Billionaire Aliko Dangote has provided proof to back his claim that the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, spent $5 million on his four children's foreign secondary education in Switzerland.

MyNigeria reported that Dangote made the allegation during a press briefing at the Dangote Petroleum Refinery in Lekki, Lagos, where he spoke extensively on what he described as regulatory failures and alleged corruption in Nigeria’s downstream petroleum sector.

According to Dangote, the alleged expenditure is inconsistent with the earnings of a career public servant and, if left unaddressed, could undermine public trust and investor confidence in the sector.

“I’ve actually had people making complaints about a regulator who has put his children in secondary school abroad,” Dangote said.

“That secondary school education, which is six years for four children, allegedly cost about $5 million. You cannot imagine somebody paying $5 million just to educate four children in secondary school.”

The billionaire businessman said such spending would ordinarily attract scrutiny from tax and anti-corruption authorities.

“When you look at his income, his income does not match paying this kind of fee,” Dangote added.

“Even if it’s me paying $5 million over six years for my four children, the taxman has to look at my taxes and how much I pay.”

Following claims that his allegations cannot be substantiated, Dangote issued a signed statement detailing the schools Farouk's children attend.

According to him, Faisal Farouk attends Montreux School; Farouk Jr. attends Aiglon College; Ashraf Farouk attends Institute Le Rosey; while Farhana Farouk attends La Garenne International School.

The billionaire claimed that the NMDPRA boss paid for their school for a six-year period. He then provided an estimate of the cost of schooling in Switzerland.

Estimated Secondary Education Cost

Annual Tuition, Air tickets and upkeep per child - $200,000 by 4 is $800,000.
Total living expenses per child and Air tickets for 6 years = $1,200,000 by 4 children - $4,800,000
Approximate Total Fees for Tuition and Upkeep - $5,000,000
Tertiary Education Fee for Children
Tuition, upkeep, Air Tickets and other expenses is Approximately $125,000 per annum by 4 years $500,000 x 4 children = $2,000,000
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.

According to Dangote, "Nigerians deserve to know the source(s) of these sums of 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."

ASA