Billionaire industrialist Aliko Dangote has raised serious questions about regulatory integrity in Nigeria’s downstream petroleum sector following a corruption petition filed against a former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed.
In the petition submitted to anti-corruption agencies, Dangote alleged that Ahmed spent millions of dollars funding the foreign education of his children, an expenditure he said was inconsistent with the former regulator’s known earnings as a public servant.
According to the petition, Mr. Farouk’s children reportedly attended some of the world’s most expensive boarding schools, including Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School. Dangote claimed the children spent about six years each in the elite institutions.
Dangote estimated that the combined cost of tuition, international travel, accommodation and general upkeep amounted to approximately $200,000 per child annually, putting the total cost of their secondary education at about $5 million.
The petition further alleged that an additional $2 million was spent on the children’s tertiary education abroad.
This included $210,000 paid for one child’s Harvard University MBA programme in 2025.
“Nigerians deserve to know the source of these funds, especially when many parents in Mr Ahmed’s home state of Sokoto struggle to pay as little as ₦10,000 in school fees,” Dangote stated in the petition.
He argued that such expenditure raises legitimate public concerns, particularly given Ahmed’s former position as a key regulator in Nigeria’s oil and gas sector, where transparency and accountability are critical to national economic stability.
Dangote urged anti-corruption agencies to conduct a comprehensive investigation into the matter, saying it was necessary to restore public confidence in Nigeria’s regulatory institutions. He also reaffirmed his commitment to transparency and ethical standards in the oil and gas industry.
Meanwhile, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has confirmed that it will continue its investigation into Ahmed despite the withdrawal of Dangote’s petition.
In a statement issued on Wednesday, the ICPC said it was formally notified by Dangote’s legal team on January 5, 2026, that the petition had been withdrawn. However, the commission stressed that under its enabling law, once an investigation has commenced, it may proceed regardless of a petitioner’s decision to withdraw.
“The investigation will continue in the interest of transparency, accountability and the fight against corruption,” the ICPC said.
Farouk Ahmed has strongly denied all allegations levelled against him, describing them as “wild and spurious.” He has maintained that the claims are politically and commercially motivated.
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