Dangote Alleges $5m Swiss School Fees, Accuses NMDPRA Boss of Economic Sabotage
Africa’s richest man and President of the Dangote Group, Aliko Dangote, has made sweeping allegations against the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, accusing him of unexplained wealth, economic sabotage, and regulatory actions allegedly aimed at undermining Nigeria’s domestic refining capacity.
Speaking at a press briefing in Lagos attended by newsmen, Dangote claimed that Engr. Ahmed spent over $5 million on school fees to educate his children in elite secondary schools in Switzerland, an expenditure he said could not be justified by the earnings of a lifetime public servant. Akahi News gathered that the allegations have intensified an already simmering controversy surrounding petroleum imports, regulation, and the operations of the Dangote Petroleum Refinery.
$5 Million Swiss Education Allegation Raises Questions
Dangote alleged that the NMDPRA boss sponsored four of his children through prestigious Swiss secondary schools over a six-year period, paying tuition fees totalling about $5 million. According to Dangote, such spending raises serious ethical and financial questions given Engr. Ahmed’s career entirely within the public sector.
“The regulator Farouk put four of his children through elite secondary schools in Switzerland and paid tuition fees of $5 million over a six-year period on his children’s education. However, his income as a public servant does not match his ability to pay those fees,” Dangote said.
He further questioned the source of the funds, stating: “He has worked all his life in the public sector, so how did he make such an amount of money to educate his children overseas and pay such a huge amount of money?”
Akahi News notes that Dangote stressed he was not passing judgement but calling for due process and transparency.
Call for Investigation by Code of Conduct Bureau
Dangote openly called on the Code of Conduct Bureau (CCB) and other relevant authorities to investigate the NMDPRA CEO to determine whether his declared earnings align with his alleged lifestyle and expenditure.
“Let the legal process take its place. The CCB needs to see if his salary matches the $5 million spent on his children’s school fees,” Dangote said.
“He must not compromise his government job at the cost of Nigerians, especially when many families cannot pay N100,000 school fees in Sokoto State where he comes from.”
According to Akahi News, Dangote maintained that accountability within regulatory institutions is critical to restoring investor confidence and protecting Nigeria’s economy.
Alleged Economic Sabotage Through Petrol Import Licences
Beyond the financial allegations, Dangote accused the NMDPRA leadership of economic sabotage, alleging that the authority approved massive petrol import licences despite significant local refining capacity.
Dangote claimed that import licences covering approximately 7.5 billion litres of Premium Motor Spirit (PMS) were issued for the first quarter (Q1) of 2026, a move he said undermines local refiners and discourages domestic production.
“The downstream must not be destroyed by one person for personal interest,” Dangote stated, warning that excessive imports distort the market, weaken local capacity, and ultimately harm Nigeria’s economy.
Akahi News learnt that Dangote argued such policies force local refiners to buy crude oil at a premium while competing with imported petrol that may be subsidised or deliberately encouraged through regulatory approvals.
Dangote Refinery Output Figures Disputed
The NMDPRA had earlier disclosed that the Dangote Petroleum Refinery evacuated an average of 23.52 million litres per day of PMS in November, noting that the figure fell short of the planned domestic supply target of 35 million litres per day.
However, Dangote strongly disputed the regulator’s figures, insisting that the authority was only reporting evacuated volumes, not total production.
“There is more than enough to supply the market,” Dangote said, stressing that production capacity at the 650,000 barrels-per-day refinery is sufficient to meet domestic demand if allowed to operate in a fair and supportive regulatory environment.
Akahi News gathered that the Dangote Refinery remains one of the largest industrial investments in Africa and a cornerstone of Nigeria’s strategy to reduce fuel imports and conserve foreign exchange.
Regulatory Uncertainty Scaring Away Investors
Dangote further lamented that regulatory uncertainty and alleged corrupt practices have discouraged foreign participation in Nigeria’s downstream sector.
“Very few foreigners are operating in Nigeria’s downstream sector because of regulatory uncertainty and corruption,” he said, adding that reckless issuance of import licences sends the wrong signal to investors.
He warned that continued policy inconsistencies could erode Nigeria’s chances of becoming a regional refining hub and achieving long-term energy security.
A High-Stakes Allegation With National Implications
While Engr. Farouk Ahmed has yet to publicly respond to the allegations as of the time of filing this report, Akahi News notes that Dangote’s claims, if substantiated, could have far-reaching implications for Nigeria’s oil and gas regulatory framework.
Dangote concluded by insisting that no individual should be allowed to “destroy the economy of Nigeria,” reiterating his call for an independent investigation.
“I will not be able to afford sending four of my kids to school abroad for six years for $5 million in Switzerland,” he said.
By Joseph Iyaji | Akahi News
Joseph Iyaji is a journalist, educator, and founder of Akahi G. International, Akahi Tutors, and Akahi News. Read more about him here.
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