President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has broadened his allegations against the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, claiming he has expended millions of dollars on his children’s education abroad.
On Sunday, Mr. Dangote accused Mr. Ahmed of economic sabotage, asserting that it undermines domestic refining in Nigeria.
At a press conference held at the Dangote Petroleum Refinery, he alleged that the NMDPRA leadership colludes with international traders and oil importers to hinder local refining by continuing to issue import licenses for petroleum products.
Mr. Dangote contended that Mr. Ahmed is living beyond his legitimate means, stating that four of his children attend secondary schools in Switzerland at costs amounting to several million dollars. This expenditure raises significant concerns about potential conflicts of interest and the integrity of regulatory oversight within the downstream petroleum sector.
In a statement issued on Monday, Mr. Dangote further alleged that Mr. Ahmed has spent over five million dollars on tuition fees for his children’s secondary education in Switzerland.
Mr. Dangote detailed the names of the children and their respective schools: Faisal Farouk at Montreux School; Farouk Jr. at Aiglon College; Ashraf Farouk at Institute Le Rosey; and Farhana Farouk at La Garenne International School. He noted that the four children have completed six years each at these institutions.
According to him, the estimated costs for secondary education, including annual tuition, air tickets, and upkeep per child, total $200,000, summing to $800,000 for four children. He further indicated that the total living expenses per child for six years are estimated at $1,200,000, leading to $4,800,000 for all four children.
“The approximate total fees for tuition and upkeep amount to $5,000,000,” he asserted.
Additionally, Mr. Dangote alleged that Mr. Ahmed expended $2,000,000 on tertiary education over four years for his four children, noting that $210,000 was specifically spent on Faisal’s 2025 Harvard MBA.
“Tuition, upkeep, air tickets, and other expenses for tertiary education total approximately $125,000 annually; over 4 years, this equals $500,000 for four children, totaling $2,000,000. Faisal just concluded the 2025 Harvard MBA at $150,000, with $60,000 for upkeep, tickets, and other incidentals. The total for Faisal’s MBA in 2025 is $210,000.”
Mr. Dangote raised questions about the origins of these funds, highlighting the economic struggles in Mr. Ahmed’s home state, where many parents find it difficult to pay N10,000 school fees.
“Nigerians deserve to know the source(s) of this money, especially when many parents in his home state of Sokoto cannot afford to N10,000 in school fees for their children,” he emphasized.
Mr. Ahmed was unavailable for comment at the time of this report on Monday night.
Previously, the House of Representatives’ Joint Committees on Petroleum Resources (Downstream and Midstream) summoned both individuals and called for an immediate cessation of public disputes.
The committees stated that this intervention aims to prevent escalation of tensions that could destabilize Nigeria’s downstream petroleum sector, which has recently begun to experience relative stability.”
