15
Dec
Dec
DANGOTE ACCUSES PETROLEUM REGULATOR BOSS OF CORRUPTION, ALLEGES $5 MILLION SWISS SCHOOL FEES FOR CHILDREN
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CapitalTimesNews / 2 months
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- 3 min read
Africa’s wealthiest man, Aliko Dangote, has publicly accused the chief executive of Nigeria’s downstream petroleum regulator of corruption, alleging he paid five million dollars for his children’s secondary school education in Switzerland. Dangote called for an immediate investigation into the official’s finances. During a press briefing at his refinery in Lekki, Lagos on Sunday, Dangote alleged that Farouk Ahmed, the CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), spent the enormous sum on six years of secondary education for four of his children. Dangote described the alleged expenditure as completely inconsistent with the income of a career public servant and a direct threat to public trust in regulatory institutions. “I’ve had people actually complaining about a regulator who put his children in secondary school, and that secondary school education, which is six years, four of them cost Nigeria five million dollars,” Dangote stated. He challenged Ahmed to provide a public explanation, asking, “He must come and explain to Nigerians how he paid five million dollars for six years of his four children’s education”. Contrasting this with his own choices and the plight of ordinary Nigerians, Dangote noted, “My children went to secondary school in Nigeria. They did not go outside Nigeria to attend secondary school”. He further highlighted the economic hardship in Ahmed’s home state, saying, “From where he comes from, people are struggling to pay ₦100,000 for secondary school fees. Many children are at home because their parents cannot afford that amount”. Dangote demanded a formal probe by anti-graft agencies, specifically naming the Code of Conduct Bureau. He clarified he was not seeking Ahmed’s immediate removal but insisted on accountability. “I am not calling for his removal,” Dangote said. “What I am asking for is a proper investigation. He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians”. The businessman issued a stern warning if the allegations are denied, threatening legal action to compel transparency. “If he denies it, I will not only publish what he paid as tuition in those secondary schools, but I will also sue the schools to disclose how much he paid for the entire period,” Dangote vowed. This corruption allegation is set against the backdrop of a protracted feud between Dangote and the NMDPRA. Dangote used the same press conference to accuse the regulator of “economic sabotage,” claiming it is colluding with international traders to frustrate local refining by issuing excessive fuel import licenses. He argued this undermines Nigeria’s domestic refining capacity, including his own $20 billion refinery. “There are powerful interests in the oil sector,” Dangote alleged. “It is troubling that African countries continue to import refined products despite long-standing calls for value addition and domestic refining. The volume of imports being allowed into the country is unethical and does a disservice to Nigeria”. The NMDPRA has not yet responded to the specific $5 million school fees allegation. The BBC reported that the agency’s spokesperson declined to comment when contacted. This is not the first time such claims have surfaced; a similar allegation was made by a group in July 2025, which the NMDPRA dismissed at the time as a “false allegation” and an “orchestrated smear campaign”. Beyond the regulator conflict, Dangote also made a significant announcement on fuel pricing, stating that petrol would sell for no more than N740 per litre starting Tuesday in Lagos, following a reduction in the gantry price from his refinery to N699 per litre.