At Dangote Refinery, Lagos, on December 14, 2025, Aliko Dangote raised serious concerns about public spending.
He immediately questioned how NMDPRA boss Engr. Farouk Ahmed could afford $5 million for four children’s Swiss education.
“Even my children attended Nigerian secondary schools,” Dangote said, highlighting the stark contrast in opportunity and spending.
Moreover, one of Ahmed’s children has graduated from Harvard, demonstrating the scale of the extravagant school fees.
Governance And Accountability
Dangote argued that such personal spending raises wider concerns about governance, credibility, and Nigeria’s downstream oil sector.
He insisted, “His income does not match paying this kind of fee; even tax authorities would examine my finances.”
Meanwhile, many Nigerians, especially in Sokoto, struggle to pay even ₦100,000 for secondary school fees each year.
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Consequently, this disparity fuels public resentment and weakens trust in government institutions across the country.
Dangote actively urged the Code of Conduct Bureau (CCB) to review Ahmed’s asset declarations carefully and thoroughly.
Furthermore, he promised, “If he denies the allegations, I will publish details and even involve the school to confirm fees.”
Conflicts And Sector Challenges
Dangote also criticised conflicts of interest, explaining that regulators with commercial stakes create systemic problems in the industry.
He blamed such conflicts for weakening domestic refineries, distorting fuel pricing, and discouraging foreign investment in Nigeria.
Additionally, Nigeria’s oil sector faces scrutiny over $850 billion allegedly unreturned between 1996 and 2014, raising serious concerns.
Similarly, SERAP demanded explanations for a reported ₦500 billion shortfall in oil revenue remittances to the Federation Account.
Finally, Dangote stressed that wealth exceeding reasonable public-service income is not private; it endangers public trust.
