President of the Dangote Group, Alhaji Aliko Dangote, has publicly accused the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, of alleged financial impropriety, calling for a thorough investigation into claims surrounding his children’s foreign education.
Dangote alleged that Ahmed spent approximately $5 million on the secondary school education of his four children in Switzerland, questioning how such an amount could be funded through earnings from public service.
Speaking during a press briefing at the Dangote Petroleum Refinery in Lekki, Lagos, Dangote said the allegation, if left unresolved, could damage public trust and investor confidence in Nigeria’s oil and gas regulatory framework.
“I’ve had people raise concerns about a regulator who allegedly paid $5m for secondary school education for four children over six years,” Dangote said, adding that the figures appeared inconsistent with the income profile of a public official.
The billionaire businessman stressed that he was not calling for Ahmed’s removal but demanded transparency and accountability. He called on institutions such as the Code of Conduct Bureau to investigate the matter and establish whether any ethical or financial rules were violated.
Dangote further argued that such alleged spending raises serious questions, especially against the backdrop of widespread economic hardship faced by many Nigerians who struggle to afford basic education.
He also used the opportunity to criticise what he described as systemic regulatory failures in the downstream petroleum sector, alleging that entrenched interests benefit from fuel importation at the expense of domestic refining.
According to him, the current structure allows conflicts of interest to thrive, discouraging new investments in local refineries despite the issuance of multiple licences.
“The downstream sector must not be controlled by personal interests. A trader should not also be a regulator,” Dangote said, warning that such practices undermine national development.
He reaffirmed his commitment to ensuring that Nigerians benefit from local refining, noting that his refinery was working continuously to ensure fuel price reductions at the gantry level are reflected at retail outlets.
When contacted for a response, the NMDPRA spokesperson, George Ene-Ita, declined to comment on the renewed allegations, stating, “For now, no comment.”
It will be recalled that similar allegations were previously denied by the NMDPRA, which had described them as a smear campaign.
Punch
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