Aliko Dangote, chairman of the Dangote Group, has alleged that Farouk Ahmed, chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), spent about $5 million on the secondary school education of his children in Switzerland.
In a paid newspaper advert on Tuesday, the billionaire said the amount was paid for four of Ahmed’s children over a six-year period.
Dangote had on Monday accused Ahmed of having “paid $5 million” to Swiss secondary schools for his children’s education, describing the action as “economic sabotage and corruption”.
In the advert detailing his allegations, Dangote listed the children as Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk. He said they attended Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School over six years.
According to Dangote, the estimated annual cost of tuition, airfare, living expenses, and upkeep per child was $200,000, amounting to $800,000 per year for the four children.
He added that total living expenses and air travel per child over six years came to $1.2 million, translating to $4.8 million for all four.
Overall, Dangote estimated that the combined cost of tuition and upkeep for the children’s secondary education reached $5 million.
The businessman also listed tertiary education expenses, saying tuition, upkeep, airfare, and other costs averaged about $125,000 per year over four years. He said this amounted to $500,000 per child, totalling $2 million for all four.
“Faisal just finished 2025 Harvard MBA at $150,000 and $60,000 for upkeep, tickets and other incidentals. Total = $210,000 spent in 2025 for Faisal’s MBA,” Dangote said.
He added that Nigerians deserve to know the source of the funds “paid by a public officer while many parents in his home state of Sokoto cannot afford to pay N10,000 school fees for their children and wards”.