Billionaire businessman Aliko Dangote has escalated his accusations against the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, by releasing specific details of the regulator's alleged multi-million-dollar spending on his children's foreign education.
In a statement issued on Monday, December 15, 2025, Dangote alleged that Ahmed spent over $5 million on secondary education alone for his four children at elite Swiss boarding schools over approximately six years, including tuition, upkeep, air tickets, and other expenses.
The named children and their alleged schools are:
Faisal Farouk: Montreux School
Farouk Jr.: Aiglon College
Ashraf Farouk: Institut Le Rosey
Farhana Farouk: La Garenne International School
Dangote further claimed an additional $2 million was spent on the four children's tertiary education over four years (approximately $125,000 per annum per child, including upkeep and travel).
Specifically for 2025, he alleged $210,000 was expended on Faisal's Harvard MBA programme, comprising $150,000 in tuition and $60,000 for upkeep, tickets, and incidentals.
The allegations stem from an ongoing feud over petroleum sector regulation, with Dangote questioning how a career public servant could afford such expenditures, calling it inconsistent with declared income and a potential conflict of interest.
Dangote has demanded a probe by authorities like the Code of Conduct Bureau and threatened legal action against the schools to compel disclosure of payment records if the claims are denied.
As of now, Farouk Ahmed and the NMDPRA have not responded to the latest details. The accusations revive similar claims first raised by civil society groups in July 2025, which were previously dismissed by the agency as baseless.
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