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$5 Million Question: Dangote Exposes Farouk Ahmed’s Extravagant Spending On Children
The tension between Africa’s richest man, Aliko Dangote, and the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has intensified, with Dangote publicly disclosing detailed figures and schools allegedly attended by Ahmed’s children.....KINDLY READ THE FULL STORY HERE▶
In a circular obtained by SaharaReporters and signed by Dangote under the heading “ALLEGATION,” the billionaire directly addressed Ahmed, claiming he “spent over $5 million on his four children’s overseas secondary education in Switzerland.”
Dangote named the children as Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk, and listed the alleged institutions as Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School. The breakdown for the six-year secondary education period was estimated as follows:
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Annual tuition, airfare, and upkeep per child: $200,000
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Total for four children over six years: approximately $5,000,000
He further questioned the costs of tertiary education, citing an additional $2 million for all four children, including an alleged $210,000 for Faisal Farouk’s 2025 Harvard MBA.
Dangote framed the financial claims within a broader critique of Ahmed’s regulatory approach, accusing him of undermining Nigeria’s economy by favoring imports over local refining. He used a sharp analogy to describe the situation:
“If now you have a bakery and I have your template, I know that your cost is ₦1,000 and I’m coming to sell that bread in front of your bakery at ₦800, what does that mean? Are you paying for me or are you sabotaging me? That is sabotage.”
He added, “The key message is that I think we are allowing Farouk to destroy the economy of Nigeria. We should not allow him to continue sabotaging it.”
Dangote demanded accountability from the career public servant, urging that he be reported to the Code of Conduct Bureau. “He must have filed his returns, and he needs to explain such vast expenditure, especially considering the hardship faced by ordinary Nigerians,” Dangote stated.
Issuing a direct warning, the billionaire said, “If he denies it—and I know it will make major headlines tomorrow—I will publish, in my name, the schools they attended. In fact, I will even sue the schools to disclose the fees he paid during his children’s attendance.”
As of the latest reports, NMDPRA CEO Engr. Farouk Ahmed has not yet responded to the detailed allegations. Meanwhile, the House of Representatives has summoned both parties to appear before a joint committee to address the crisis.
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