The Chairman of the Dangote Group,
Aliko Dangote, stated that the CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, reportedly spent around $5 million on the secondary education of his children in Switzerland.
In a paid newspaper advertisement on Tuesday, Dangote said the amount allegedly covered six years of schooling for four of Ahmed’s children.
On Monday, Dangote had accused Ahmed of spending $5 million on a Swiss school, describing the expenditure as an act of “economic sabotage and corruption.”
On Monday, Dangote had accused Farouk of paying $5 million to a Swiss secondary school for his children’s education, calling the act “economic sabotage and corruption.”
In the release, Dangote provided details of his allegations, naming the four children as Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk.
He also stated that over a six-year period, the children attended Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School.
According to the billionaire, the children attended Montreux School, Aiglon College, Institut Le Rosey, and La Garenne International School over a six-year period.
Dangote also provided estimates for annual tuition, living expenses, air travel, and upkeep, which he calculated across all four children and the full duration of their studies.
He stated that the annual cost of tuition, airfare, and upkeep per child was $200,000, totaling $800,000 per year for all four children.
Dangote further explained that over six years, the combined living expenses and air travel per child amounted to $1.2 million, bringing the total for all four children to $4.8 million.
Dangote estimated that the combined cost of tuition and upkeep for all four children totaled $5 million.
He further detailed their tertiary education expenses, noting that annual tuition, living costs, airfare, and other fees averaged about $125,000 per child.
This, he said, amounts to $500,000 per child over four years, or $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,” he added.
Dangote stated that Nigerians have the right to know the source of the funds “spent by a public officer while many parents in his home state of Sokoto cannot afford even N10,000 in school fees for their children.”
