President of the Dangote Group, Alhaji Aliko Dangote, has called for a full investigation into allegations that the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, spent about $5 million on the secondary school education of his four children in Switzerland.

Speaking during a press briefing at the Dangote Petroleum Refinery in Lekki, Lagos, on Sunday, Dangote said the alleged expenditure was difficult to reconcile with the income of a public official and should be thoroughly examined in the interest of transparency and public trust.

According to Dangote, the issue was brought to his attention by concerned individuals, and he believed that leaving such allegations unanswered could undermine confidence in Nigeria’s regulatory institutions and discourage investors.

He questioned how a public servant could afford such fees, stressing that even individuals in the private sector would be subjected to scrutiny by tax authorities if they spent such an amount.

Dangote also expressed concern over the disparity between the alleged spending and the economic realities faced by ordinary Nigerians, many of whom struggle to pay modest school fees for their children.

He noted that his own children did not attend secondary schools abroad, adding that his call was not for the removal of the regulatory chief, but for a transparent investigation that would either clear his name or confirm wrongdoing.

Dangote warned that failure to address such allegations could amount to economic sabotage, particularly at a time when Nigerians are facing economic hardship.

Beyond the education controversy, the billionaire businessman raised broader concerns about the downstream petroleum sector, accusing powerful interests of frustrating local refining in favour of fuel imports.

He criticised the regulatory environment, arguing that it discourages investment in new refineries and allows traders to wield undue influence over regulation.

Dangote stressed that regulators should not have commercial interests in the sector they oversee, warning that such conflicts undermine fairness and national development.

He reiterated his commitment to ensuring that Nigerians benefit from domestic refining, stating that his company was working to ensure that recent reductions in fuel prices at the gantry level translate to relief for consumers at filling stations.

When contacted for a response, the Nigerian Midstream and Downstream Petroleum Regulatory Authority declined to comment on the allegations.