Billionaire industrialist Aliko Dangote has called for a formal investigation into the financial conduct of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) boss, Farouk Ahmed, following allegations that the regulator spent around $5 million (about ₦7.5 billion) on the secondary school education of his four children in Switzerland.
Speaking at a press briefing in Lekki, Lagos on Sunday, Dangote insisted that the claimed expenditure on foreign education was inconsistent with the expected earnings of a public servant. He urged that Ahmed should appear before the Code of Conduct Tribunal and provide clear explanations to Nigerians on how such funds were acquired.
Dangote also linked the controversial school fees to broader concerns about corruption and economic sabotage within the downstream petroleum sector, arguing that the absence of transparency could erode public trust and investor confidence. According to him, ordinary Nigerians struggle to pay basic school fees, a stark contrast to the alleged lavish spending by a senior regulator.
While emphasizing that he was not calling for Ahmed’s outright removal, the Dangote Group president said a proper investigation was necessary to determine whether the regulator’s income matched the claimed expenditure. He added that if Ahmed denies the allegation, steps should be taken to compel the Swiss schools to disclose the payments made for his children’s education.
The controversy comes amid ongoing tensions between Dangote and the NMDPRA over import policies and regulatory practices in Nigeria’s petroleum sector.
