Chairman of the Dangote Group, Aliko Dangote, has alleged that Farouk Ahmed, the Chief Executive Officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), spent about $5 million on the secondary school education of his children in Switzerland.
Dangote made the allegation in a paid newspaper advert published on Tuesday, expanding on claims he had earlier raised on Monday, which he described as an act of “economic sabotage and corruption.”
Details of the Alleged Expenditure
According to Dangote, the $5 million covered the education of four of Ahmed’s children over a six-year period. He identified the children as Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk.
Dangote also listed the Swiss schools allegedly attended by the children, including Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School.
He claimed that the estimated costs included tuition fees, accommodation, air travel, and general upkeep, calculated across the four children and several years of study.
Cost Breakdown Presented by Dangote
The billionaire businessman stated that the annual cost per child for tuition, airfare, and upkeep was about $200,000, amounting to $800,000 per year for all four children.
He further alleged that combined living expenses and travel costs over six years totaled $1.2 million per child, translating to $4.8 million for the four children. Based on these calculations, Dangote estimated the overall secondary education cost at approximately $5 million.
Alleged Tertiary Education Expenses
Dangote also highlighted what he described as the tertiary education expenses of Ahmed’s children. According to him, tuition, upkeep, airfare, and related costs averaged $125,000 per year over a four-year period, totaling $500,000 per child and $2 million for all four children.
He specifically mentioned that Faisal Farouk recently completed an MBA at Harvard University in 2025, claiming that the programme cost $150,000, with an additional $60,000 spent on upkeep, travel, and other incidentals.
“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,” Dangote stated.
Call for Public Accountability
Dangote argued that Nigerians deserve to know the source of such funds, especially, according to him, when many parents in Ahmed’s home state of Sokoto struggle to pay as little as ₦10,000 in school fees for their children.
As of the time of filing this report, Farouk Ahmed and the NMDPRA have not issued an official response to the allegations.
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