For months, the battle between Aliko Dangote, Africa’s richest man, and Nigeria’s petroleum regulators has been a war of technicalities: sulfur content, import licenses, and refinery yields.
But this week, the conflict took a jagged, deeply personal turn that has transfixed a nation grappling with its worst economic crisis in a generation.
Mr. Dangote has moved beyond the boardroom, launching a high-stakes public campaign against Farouk Ahmed, the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
In a series of extraordinary public broadsides and a formal petition to anti-graft investigators, Mr. Dangote has accused the nation’s top fuel regulator of living a “Swiss-funded” lifestyle far beyond the reach of a career civil servant.
The Million-Dollar Ledger
The center of the storm is a detailed graphic, bearing Mr. Dangote’s signature, that has circulated widely across Nigerian media and social platforms.
It purports to itemize the secondary and tertiary education expenses of Mr. Ahmed’s four children at some of the world’s most elite institutions, including Aiglon College and Institut Le Rosey in Switzerland.
The “allegation” document claims that Mr. Ahmed spent over $5 million on secondary education alone—a figure that includes $200,000 annually per child for tuition and upkeep.
It further alleges that one son, Faisal, recently completed an MBA at Harvard University with a 2025 price tag of $210,000 for a single year.
“Facts don’t lie,” the document declares, before pivoting to a potent political message: “Nigerians deserve to know the source(s) of these sums… while many parents in [Ahmed’s] home state of Sokoto cannot afford to pay ₦10,000 school fees.”
Petitions and Resignations
The allegations are the latest escalation in a bitter dispute over Mr. Dangote’s new $20 billion oil refinery.
Mr. Dangote has accused the NMDPRA of “economic sabotage,” claiming the agency is intentionally granting import licenses to international traders to undermine his domestic production.
By targeting Mr. Ahmed’s personal finances, Mr. Dangote is attempting to frame a technical policy dispute as a moral crusade against corruption.
Reports emerged on Wednesday that Mr. Ahmed, along with another top oil official, resigned following the news that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has officially opened an investigation into the petition filed by Mr. Dangote.
Before Mr. Ahmed’s resignation, a civil society organisation, Empowerment for Unemployed Youth Initiative (EUYI), staged a peaceful protest at the headquarters of the ICPC and the Economic and Financial Crimes Commission (EFCC) in Abuja, calling for a swift and transparent probe of Mr. Ahmed.
This article was edited with AI and reviewed by human editors
