The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has announced that it will begin an immediate investigation into corruption allegations made by Aliko Dangote, President of Dangote Industries Limited, against Farouk Ahmed, Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The anti-graft agency confirmed receiving a petition from Dangote, who through his lawyer, accused Ahmed of unethical conduct and living far beyond his official means.
In a statement issued on Tuesday, December 16, ICPC’s spokesperson, John Odey, said the petition had been formally acknowledged and would be thoroughly examined.
“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,” Odey said.
“The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated,” he added.
Earlier, Dangote had accused Farouk Ahmed of spending $5 million on his children’s secondary education in Switzerland, saying such expenditure was inconsistent with his legitimate earnings.
READ ALSO: Dangote Petitions ICPC Against NMDPRA Boss Over Alleged $7m Corruption
“I am not calling for his removal, but for a proper investigation,” Dangote said, adding that “He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians.”
The industrialist said he was prepared to present evidence to the ICPC, the Code of Conduct Bureau, and other anti-corruption agencies to support his claims.
At a press briefing held Sunday at the Dangote Petroleum Refinery, Dangote also accused the NMDPRA under Ahmed’s leadership of sabotaging efforts to strengthen domestic refining through its continued issuance of fuel import licences.
He alleged that the regulator’s decisions have discouraged investment in Nigeria’s refining sector and maintained the country’s dependence on imported fuel.
“Licences covering about 7.5 billion litres of petrol have been issued for the first quarter of 2026,” he said, adding that such actions threaten the viability of domestic refiners and modular plants.
Dangote described the situation as one driven by entrenched interests profiting from fuel importation, insisting that the practice undermines local production and national economic growth.
He announced that the Dangote Refinery had further reduced its pump price, promising petrol would not sell above ₦740 per litre starting Tuesday in Lagos, following a drop in its ex-depot price to ₦699.
The MRS filling stations, he said, would be the first to enforce the price reduction.