Shola Akinyele
Africa’s richest man and industrialist, Aliko Dangote, has reignited his public feud with Nigeria’s petroleum regulators after accusing the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, of allegedly funding an education lifestyle that does not match his official income.
Speaking at a press conference on Sunday, Dangote alleged that Ahmed spent about $5 million on secondary school education alone for four of his children in Switzerland, describing the figures as inconsistent with the regulator’s earnings and deserving of investigation.
Dangote questioned how such fees could be afforded, stressing that even wealthy individuals are subject to scrutiny by tax authorities. He argued that if he personally paid such an amount for his own children’s education, the tax authorities would be justified in probing the source of the funds.
Drawing a sharp contrast, Dangote referenced the situation in Sokoto State, Ahmed’s home state, where he said many families struggle to pay as little as ₦100,000 in annual school fees, leaving numerous children out of school. He described the disparity as troubling and called for transparency.
The billionaire also linked the allegations to broader concerns about corruption and sabotage within Nigeria’s oil and gas sector. He claimed that vested interests within regulatory institutions were working against the success of his $20 billion Dangote Refinery, Nigeria’s flagship industrial project, through questionable import licenses, regulatory bottlenecks, and systemic sabotage.
Dangote further alleged that the refinery has suffered losses of up to $82 million due to theft, insisting that corruption in the oil sector is more complex than even drug trafficking networks because of the number of actors involved.
“Nigeria should be the refining hub of sub-Saharan Africa,” Dangote said, adding that the country has both the crude oil and refining capacity to supply West and Central Africa if local refineries are allowed to function optimally.
He called for a full investigation into the allegations against Ahmed, stating that any official found guilty of wrongdoing must be prosecuted to restore confidence in the sector.
As of the time of filing this report, Farouk Ahmed has not publicly responded to the allegations. The renewed accusations have intensified debate over regulatory integrity, accountability, and the ongoing struggle to reform Nigeria’s petroleum industry.
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