By PRESIDENT of Dangote Industries Limited, Aliko Dangote, has released detailed information to support his earlier allegation questioning how Farouk Ahmed, Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), financed the overseas secondary school education of his children, which he claimed amounted to about $5 million.
In a newspaper advertisement published on Tuesday, Dangote stated that the sum covered school fees and related expenses for four of Ahmed’s children over a six-year period in Switzerland.
The publication followed Dangote’s allegation on Monday that Farouk Ahmed had paid $5 million to Swiss secondary schools for his children’s education. Dangote said the claim raised serious concerns and called for an investigation into the NMDPRA leadership over what he described as a possible compromise of the regulatory agency against the interests of Nigerians.
In the advertisement, Dangote identified the children as Faisal Farouk, Farouk Jr., Ashraf Farouk and Farhana Farouk.
He also listed the institutions they reportedly attended within the six-year period as Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School.
According to Dangote, who is also the owner of the 650,000 barrels-per-day Dangote Refinery and Petrochemicals, the estimated costs included tuition, living expenses, air travel and general upkeep for the four children over several years.
He stated that the annual cost of tuition, airfare and upkeep per child was estimated at $200,000, bringing the total annual cost for the four children to $800,000.
Dangote further claimed that living expenses and air tickets per child over six years amounted to $1.2 million, which translates to $4.8 million for the four children.
Based on these calculations, he estimated that the combined cost of tuition and upkeep for the period amounted to approximately $5 million.
Dangote also outlined the alleged expenses for the children’s tertiary education, stating that tuition, upkeep, airfare and other related costs averaged $125,000 per year over four years. According to him, this amounts to $500,000 per child and a total of $2 million for all four children.
Providing further details, Dangote said:
“Faisal just finished a 2025 Harvard MBA at $150,000, with $60,000 spent on upkeep, tickets and other incidentals. Total = $210,000 spent in 2025 for Faisal’s MBA.”
Dangote argued that Nigerians deserve to know the source of funds used by a public officer to finance such expenses, especially “at a time when many parents in his home state of Sokoto cannot afford to pay ₦10,000 school fees for their children and wards.”
As of the time of filing this report, Stonix News could not independently verify the claims. Neither Farouk Ahmed nor the NMDPRA had issued any official response to the allegations made by Dangote.
