Tinubu’s Regulatory Shake-Up Amid Dangote's Oil Clash

Nigerian President Bola Tinubu seeks Senate confirmation for new oil and gas regulatory heads after their predecessors' abrupt exits. This follows tensions involving Aliko Dangote over fuel import issues, prompting a reshuffle in Africa's top oil producer. Governance concerns and allegations mar the regulatory landscape.

Nigerian President Bola Tinubu has urged the Senate to confirm two new leaders for the country's oil and gas regulatory bodies. This move comes after the recent unexpected resignations of the previous heads during a conflict between one of the agencies and Aliko Dangote, Africa's wealthiest individual.

The nominations aim to stabilize the regulatory environment following the departure of Gbenga Komolafe and Farouk Ahmed, who were leading the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority respectively. Dangote accused Ahmed of enabling low-cost fuel imports that threaten his and other local refineries.

This regulatory reshuffle occurs at a pivotal time for Nigeria, Africa's largest oil producer, plagued by uncertainty and supply challenges. The tension escalated when Dangote filed a petition against Ahmed, raising governance issues and allegations of financial misconduct.

(With inputs from agencies.)