By Adekunle Adekoya
What amounted to an earthquake occurred in the oil sector in the week ending today. Mallam Farouk Ahmed, Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, fell from his Olympian heights and his resignation from office was suddenly announced after a meeting with the President at the Presidential Villa Wednesday evening. In unclear circumstances, Engr. Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, also resigned his job.
The earthquake coming from Alhaji Aliko Dangote, President of Dangote Industries and operator of the largest single train refinery in Africa started with tremors on Sunday when Africa’s richest man accused Farouk Ahmed’s NMDPRA of economic sabotage, alleging that regulatory actions were undermining local refining capacity in Nigeria.
