Africa’s richest businessman and President of Dangote Industries Limited, Aliko Dangote, has expanded his allegations against the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, accusing him of spending millions of dollars on his children’s foreign education and living beyond his legitimate means.
Dangote made the fresh allegations while addressing journalists at the Dangote Petroleum Refinery, where he reiterated claims that the leadership of the NMDPRA was undermining domestic refining through the continued issuance of import licences for petroleum products. He alleged that the regulatory authority was colluding with international traders and oil importers to frustrate local refineries, an action he described as economic sabotage.
In a statement released on Monday, Dangote alleged that Ahmed spent over $5 million on secondary education for his four children in Switzerland. According to him, the children attended elite institutions including Montreux School, Aiglon College, Institute Le Rosey, and La Garenne International School, spending about six years each in the schools.
Dangote claimed that the combined cost of tuition, air travel, and upkeep amounted to about $200,000 per child annually, with total living expenses estimated at $1.2 million per child over six years. He put the overall cost of their secondary education at approximately $5 million.
The billionaire industrialist further alleged that an additional $2 million was spent on tertiary education for the four children over four years. He added that one of Ahmed’s children, Faisal, reportedly completed a 2025 MBA programme at Harvard University, with tuition and related expenses amounting to about $210,000.
Dangote questioned the source of the funds used to finance the education, arguing that Nigerians deserved transparency from a public official, particularly at a time of widespread economic hardship. He noted that many parents in Ahmed’s home state of Sokoto struggle to pay modest school fees for their children.
As of the time of filing this report, Ahmed could not be reached for comments.
Meanwhile, the House of Representatives Joint Committees on Petroleum Resources (Downstream and Midstream) have intervened in the dispute, summoning both Dangote and the NMDPRA leadership. The committees also directed an immediate halt to public exchanges, warning that continued confrontation could destabilise Nigeria’s downstream petroleum sector, which has only recently begun to experience relative stability.
