Africa's richest man, Aliko Dangote, has intensified his ongoing feud with Nigeria's petroleum regulator by publicly accusing Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), of corruption and economic sabotage, alleging that Ahmed spent approximately $5 million on secondary school fees for his four children in Switzerland.
Speaking at a press briefing on Sunday at the Dangote Petroleum Refinery in Lekki, Lagos, the billionaire businessman claimed the extravagant expenditure covering six years of education was incompatible with the legitimate earnings of a public servant, raising questions about potential conflicts of interest and compromised regulatory oversight in the downstream oil sector.
"I've had people making complaints about a regulator who has put his children in secondary school in Switzerland, and that secondary school education for four children cost $5 million," Dangote said.
He contrasted this with his own choices, noting that even his children attended secondary schools in Nigeria, and highlighted the struggles of ordinary Nigerians, particularly in Ahmed's home state of Sokoto, where many parents cannot afford basic school fees.
Dangote called for a thorough investigation, possibly by the Code of Conduct Bureau or Tribunal, insisting Ahmed should explain the source of the funds.
"If he denies it, I will not only publish what he paid as tuition in those secondary schools, but I will also take legal steps to compel the schools to disclose the payments made by Farouk," he warned.
The allegations revive similar claims made earlier in 2025 by activists and civil society groups, who accused Ahmed of using illicit funds for his children's elite education abroad.
At the time, NMDPRA dismissed those accusations as a "smear campaign" based on falsehoods.
Dangote framed the personal allegations within broader criticisms of NMDPRA's policies, accusing the agency of colluding with international oil traders and importers to undermine domestic refining by continually issuing import licences for petroleum products.
"What is happening amounts to economic sabotage," he stated, warning that unchecked imports threaten jobs, investment, and Nigeria's energy security.
The industrialist also alleged that NMDPRA misrepresented the refinery's production capacity and allowed substandard imports, while domestic refiners face disadvantages like paying premium prices for Nigerian crude.
As of Monday morning, Farouk Ahmed had not responded to requests for comment on the latest accusations.
NMDPRA's spokesperson also declined to comment when contacted.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
Who will investigate him & what will the present government that thrives on corruption do? Dead on arrival.
ReplyDelete