Aliko Dangote, chairman of the Dangote Group, has provided more details on the profligacy of Farouk Ahmed, chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, whom he earlier accused of spending about $5 million on the secondary school education of his children in Switzerland.
In a paid newspaper advert on Tuesday, the billionaire said Ahmed paid the said amount for four of his children, covering a period of six years.
On Monday, Dangote had alleged that Ahmed Farouk “paid $5 million” to a Swiss secondary school for his children’s education, describing the act as “economic sabotage and corruption”.
Releasing details of his allegations, in the newspaper advert, Dangote listed the four children as Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk.
According to the billionaire entrepreneur, the secondary schools the children attended for a duration of six years were Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School.
Dangote also presented estimated annual tuition, living expenses, air travel, and upkeep, which were multiplied across four children and several years of study.
He said the annual cost of tuition, airfare, and upkeep per child was $200,000, which totals $800,000 per year for his four children.
The businessman further explained that the total living expenses and air tickets per child over six years was $1.2 million, amounting to $4.8 million for all four children.
Overall, Dangote estimated that the combined cost of tuition and upkeep for all the children reached $5 million.
He also listed the tertiary education expenses for Ahmed’s children, noting that tuition, upkeep, airfare, and other costs average approximately $125,000 per year over a four-year period.
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According to the billionaire, this adds up to $500,000 for four years per child, totalling $2 million for all of them.
“Faisal just finished 2025 Harvard MBA at $150,000 and $60,000 for upkeep, tickets and other incidentals. Total =$210,000 spent in 2025 for Faisal’s MBA,” he added.
Dangote said Nigerians deserve to know the source of the money “paid by a public officer while many parents in his home state of Sokoto cannot afford to pay N10,000 school fees for their children and wards”.
Meanwhile, the House of Representatives Joint Committee on Petroleum Resources has invited Dangote Refinery and the NMDPRA to resolve disagreements threatening the downstream petroleum sector.
Chairman Ikenga Ugochinyere said after an emergency Abuja meeting on Monday that rising tensions could undermine the fragile stability recently achieved.
He said the committee must act swiftly, as efforts continue to stabilise supply, pricing and regulation in Nigeria’s post-subsidy petroleum era.
“The key issue is the renewed tension arising from concerns and allegations raised by Alhaji Aliko Dangote against the NMDPRA.
“We are guarding hard-won stability; sustainable solutions require identifying critical issues, hence our invitation to Dangote and the NMDPRA leadership,” he said.
He said petitions received cover import licence issuance and whether domestic refineries can meet Nigeria’s daily petroleum demand.
Ugochinyere said all outstanding matters would be examined when refining and regulatory stakeholders appear before the committee.
Crediblenewsng.com
