Saidu Mohammed has formally withdrawn from his scheduled appointment to the Board of Directors of Seplat Energy Plc, citing potential conflicts of interest following his nomination by President Bola Tinubu as the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The withdrawal, confirmed in a statement released by Seplat Energy on Monday, marks a swift resolution to a situation that could have placed Mohammed in a position of regulating an industry in which he held a governance role.
Seplat Energy had initially announced on December 17, 2025, that Mohammed would be joining its board as an Independent Non-Executive Director, effective January 1, 2026. This appointment was intended to leverage Mohammed’s extensive experience in the oil and gas sector to bolster Seplat’s governance structure. However, later that same day, the Presidency announced Mohammed’s nomination to lead the NMDPRA, the key regulatory body overseeing the midstream and downstream sectors of Nigeria’s petroleum industry.
The NMDPRA is responsible for the technical and commercial regulation of midstream and downstream operations, including fuel distribution, pricing, and infrastructure development. Holding a directorship at a major energy company like Seplat while simultaneously heading the industry’s primary regulator would have created a significant conflict of interest, potentially compromising the impartiality required of the regulatory chief. Recognizing this, Mohammed promptly stepped aside from the Seplat role.
In a formal notification to the Nigerian Exchange Limited (NGX) and the investing public, Seplat’s Company Secretary, Mrs. Edith Onwuchekwa, stated that the company had received Mohammed’s decision to withdraw. The statement clarified that the move was necessary to allow him to focus fully on his new national assignment without ethical encumbrances. Seplat further indicated that a replacement for the vacant board position would be announced in due course.
Mohammed’s appointment as NMDPRA Chief Executive was confirmed by the Nigerian Senate on December 19, 2025. He succeeds Farouk Ahmed, who resigned earlier in the year amidst controversy and allegations of corruption and economic sabotage—allegations Ahmed has vehemently denied. Mohammed steps into the role at a critical time for Nigeria’s energy sector, which is grappling with challenges in fuel supply, pricing stability, and infrastructure deficits.
The leadership reshuffle in Nigeria’s oil and gas regulatory landscape also saw the Senate confirm Oritsemeyiwa Eyesan as the new head of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). These appointments are part of President Tinubu’s broader strategy to reform and revitalize the nation’s petroleum industry, ensuring more efficient regulation and oversight across the value chain.
Mohammed’s decision to prioritize the regulatory appointment over the corporate board seat underscores the importance of corporate governance and regulatory independence in Nigeria’s evolving energy market. By stepping away from Seplat, he clears the path to assume his duties at the NMDPRA with a clean slate, tasked with the heavy responsibility of steering the midstream and downstream sectors toward stability and growth. Seplat Energy, for its part, continues its operations as a leading indigenous energy company, now looking to fill the gap left by Mohammed’s withdrawal to maintain a robust board composition.
