Engineer Saidu Mohammed has formally withdrawn from his planned appointment to the board of Seplat Energy Plc, following his nomination and Senate confirmation as the new chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Seplat had announced on December 17 that Mohammed would join its board as an independent non-executive director effective January 1, 2026.
However, on the same day, President Bola Tinubu nominated him to head the NMDPRA, a powerful regulatory agency overseeing fuel distribution, pricing, and infrastructure across Nigeria.
The dual roles immediately raised concerns about conflict of interest, prompting Mohammed to step aside from the Seplat appointment.
In a statement signed by Seplat’s company secretary, Edith Onwuchekwa, the company confirmed receiving formal notification of Mohammed’s withdrawal.
“Seplat Energy has received formal notification from Engineer Mohammed withdrawing his acceptance of the appointment to the Board of Seplat Energy due to the resulting conflict of interest,” the statement read.
The company congratulated him on his national assignment and pledged support for his leadership in the petroleum sector.
Regulatory Integrity and Industry Oversight
The NMDPRA, created under the Petroleum Industry Act (PIA) of 2021, plays a critical role in ensuring fair competition, monitoring downstream pricing, and safeguarding consumer interests.
Having its CEO simultaneously sit on the board of a major private operator like Seplat would have raised questions about impartiality and regulatory capture.
His appointment comes at a turbulent time for Nigeria’s petroleum sector. The resignation of his predecessor, Farouk Ahmed, amid allegations of economic sabotage and corruption, highlighted the challenges facing regulators tasked with stabilising fuel supply and enforcing transparency.
Mohammed’s leadership will be closely watched as Nigeria grapples with issues such as subsidy removal, rising pump prices, and the integration of Dangote Refinery’s output into the domestic market.
Wider Shake-Up in Petroleum Regulation
Mohammed’s confirmation by the Senate on December 19 was part of a reshuffle in Nigeria’s regulatory body.
On the same day, lawmakers also confirmed Oritsemeyiwa Eyesan as CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Together, the two appointments is a significant change in leadership across agencies responsible for implementing the PIA and driving reforms in both upstream and downstream segments.
Mohammed’s engineering background and prior experience in Nigeria’s oil sector could help restore confidence in the NMDPRA.
His immediate priorities are expected to include tackling fuel distribution bottlenecks, strengthening monitoring of marketers, and ensuring that Nigeria’s midstream and downstream infrastructure aligns with the government’s energy transition goals.
Seplat has indicated it will update the market in due course regarding a replacement for the vacant board position.
With Nigeria’s petroleum industry at a crossroads—balancing local refining capacity, subsidy reforms, and foreign investment—the performance of Mohammed and Eyesan will be pivotal in shaping the sector’s trajectory in 2026 and beyond.
Rate, Like 👍, Comment 💬, Share this article, Follow us on our social media handles, and Submit your own story to get featured and earn rewards!
WhatsApp Channel
Telegram Channel
