Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it will commence immediate investigation into the allegations of corruption against Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The anti-graft said it has received the petition submitted against Ahmed by the President of the Dangote Industries Limited, Alh. Aliko Dangote.
John Odey, the spokesman of the commission, vowed that the petition will be duly investigated.
Daily Trust had earlier reported that the business mogul, through his lawyer submitted a petition, demanding the arrest and prosecution of the NMDPRA boss.
Reacting via terse statement, Odey said, “The Independent Corrupt Practices and Other Related Offences Commission (ICPC) writes to confirm that it received a formal petition today Tuesday 16th December, 2025 from Alhaji Aliko Dangote through his lawyer.
“The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated.”
Dangote had accused Ahmed of living above his means, saying he used $5 million to sponsor his children secondary education in Switzerland.
“I am not calling for his removal, but for a proper investigation,” Dangote said, adding, “He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians.”
He urged the Code of Conduct Bureau and other relevant agencies to investigate the matter, adding that he was prepared to provide evidence to support his claims if challenged.
Speaking at a press conference on Sunday at the Dangote Petroleum Refinery, Dangote accused the leadership of the NMDPRA of frustrating local refining through the continued issuance of petroleum product import licences, despite growing domestic refining capacity.
According to Dangote, the regulator’s actions have sustained Nigeria’s dependence on fuel imports and discouraged investment in local refining.
He claimed that import licences covering about 7.5 billion litres of Premium Motor Spirit (PMS) had reportedly been issued for the first quarter of 2026, even as local refiners struggle to operate profitably.
Dangote warned that continued importation of refined products was harming local production and placing modular refineries on the brink of collapse. He also criticised what he described as entrenched interests benefiting from fuel imports at the expense of national development.
On pricing, Dangote assured Nigerians that the pump price of PMS would fall further, announcing that petrol would sell at no more than ₦740 per litre from Tuesday, starting in Lagos, following a reduction in the refinery’s gantry price to ₦699 per litre. He said MRS filling stations would be the first to implement the new price.
He added that the refinery had reduced its minimum purchase requirement to enable more marketers to participate and was prepared to deploy its Compressed Natural Gas (CNG) trucks nationwide to ensure affordability.
Dangote maintained that Nigerians would ultimately benefit from domestic refining, even as fuel importers incur losses. He reiterated plans to list the Dangote Petroleum Refinery on the Nigerian Exchange to allow Nigerians to own shares in the facility.
“This refinery is for Nigerians first. I am not giving up,” he added
