Scholarships, Savings Fund My Children’s Education – NMDPRA Chief Replies Dangote

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has responded to allegations regarding the funding of his children’s education, insisting that the claims overlook verifiable financial facts and the independent nature of his role as a petroleum sector regulator.

In a statement signed by him, Ahmed said his children’s schooling was financed through a combination of merit-based scholarships, family education trust funds and personal savings built over more than 30 years in public service.

Reacting to allegations by Aliko Dangote that about $5 million was spent on his children’s secondary education in Switzerland, Ahmed described the figures as “misleading” and taken out of context.

“The allegation that I spent $5 million on my children’s education is presented without context and ignores verifiable sources of funding that have existed long before my appointment as chief executive,” he said.

Ahmed disclosed that three of his four children received merit-based scholarships covering between 40 and 65 per cent of their tuition fees, stressing that the awards were strictly based on academic performance.

“These were merit-based scholarships. The documentation exists and is available to any authorised investigation,” he stated.

He added that additional funding came from education trust funds set up by his late father before his death in 2018, describing the arrangement as part of a long-standing family tradition that prioritises education.

“My late father, a businessman, set up education trust funds for his grandchildren in keeping with our cultural practice of collective family investment in education,” Ahmed said.

According to him, the balance of the fees was paid from his personal savings, accumulated since he joined the civil service in 1991 and served continuously in Nigeria’s petroleum regulatory institutions.

“When scholarships, family contributions and my own savings accumulated over three decades are properly accounted for, my personal financial obligation is entirely consistent with my professional standing,” he noted.

Ahmed said his annual remuneration, estimated at about ₦48 million including allowances, is publicly disclosed in the NMDPRA’s audited accounts, adding that his assets are declared annually to the Code of Conduct Bureau.

“Every income source, investment and significant expenditure is documented and available for scrutiny,” he said.

He also authorised the schools attended by his children to release relevant financial records to investigators, expressing confidence that such disclosures would clear him of any wrongdoing.

“I hereby publicly authorise all educational institutions my children have attended to disclose financial records. The facts will speak for themselves,” he said.

Ahmed dismissed claims that illegal funds could have been used to pay foreign school fees, noting that overseas institutions require payments from legitimate and traceable sources.

“Schools abroad do not accept funds that are not legitimately earned,” he said.

Addressing the timing of the allegations, Ahmed said they emerged amid intensified enforcement of the Petroleum Industry Act by the NMDPRA, including tighter licensing, improved fuel quality control, transparent pricing and public disclosure of supply and import data.

“As a regulator, our duty is to act in the national interest, not to protect commercial preferences. Regulatory independence will always create friction with interests that benefited from opacity,” he stated.

He explained that measures such as issuing import licences were taken strictly within the law to ensure energy security.

“Granting import licences when domestic supply is insufficient is not sabotage; it is a statutory obligation under the Petroleum Industry Act,” Ahmed said.

The NMDPRA boss formally invited the Code of Conduct Bureau, the Economic and Financial Crimes Commission and the National Assembly to probe his finances and regulatory actions, pledging full cooperation.

“Investigate thoroughly, examine every claim and scrutinise every transaction. My record, both financial and professional, will withstand any legitimate inquiry,” he said.

Ahmed reaffirmed his commitment to transparent and independent regulation, stressing that personal attacks would not deter him from carrying out his statutory duties in the interest of Nigeria’s energy security.

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