The Major Energies Marketers Association of Nigeria (MEMAN) has stated that the downstream petroleum sector will miss Farouk Ahmed following his resignation as Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Executive Secretary Clement Isong described Ahmed as a highly professional regulator who successfully guided the industry through challenging transitions.
Ahmed, the pioneer chief executive, oversaw the statutory merger of the Department of Petroleum Resources and Petroleum Equalisation Fund into NMDPRA without job losses.
Isong highlighted the complexity of integrating staff into a unified culture amid subsidy removal and Petroleum Industry Act implementation.
He commended Ahmed for maintaining fuel supply stability through four peak demand seasons without widespread scarcity.
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The MEMAN official praised Ahmed’s role in establishing structures for gas commercialisation and providing mature leadership during deregulation.
Isong expressed sadness at Ahmed’s departure amid allegations from Aliko Dangote, noting the loss of valuable experience as local refining grows.
MEMAN welcomed incoming Chief Executive Saidu Mohammed, a seasoned practitioner with refinery and depot management background.
Isong urged the new leader to prioritise transparency, data publication, and evidence-based decisions for regulatory credibility.
This transition ensures continuity in overseeing Nigeria’s deregulated downstream market, balancing competition, pricing volatility, and sector development.
