Africa's richest man and Chairman of the Dangote Group, Aliko Dangote, has accused Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), of spending $5 million on his children’s secondary education in Switzerland.
The disclosure, made via a public advertisement on Tuesday, December 16, 2024, follows a heated press briefing where Dangote accused the regulator of “economic sabotage” and living beyond his means as a public servant.
Dangote claimed the expenditure covered six years for four children—Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk—at prestigious schools including Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School.
According to the billionaire, the annual cost of tuition, airfare, and upkeep per child was $200,000, totaling $800,000 per year for all four children. Total living expenses and air travel over six years added up to $4.8 million, bringing the combined tuition and upkeep to roughly $5 million.
He also highlighted tertiary education costs, averaging $125,000 per year over four years per child, totaling $2 million. Faisal Farouk, he noted, recently completed a Harvard MBA in 2025, costing $210,000 including tuition and other expenses.
Dangote stressed that Nigerians deserve to know the source of the funds, noting: “Many parents in Sokoto cannot afford N10,000 school fees for their children and wards.”
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