Ahmed Replies to Dangote’s Allegations, Defends Education Funding, Invites Full Probe of His Finances

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, has responded to allegations surrounding the funding of his children’s foreign education, stating that the claims overlook verifiable financial facts and misrepresent his personal and professional history. In a detailed statement, Ahmed maintained that his children’s education was financed through a combination of merit-based scholarships, long-established family education trust funds, and personal savings accumulated over more than three decades of public service.

The response follows claims attributed to businessman Aliko Dangote, suggesting that about $5 million was spent on Swiss secondary education for Ahmed’s children. Ahmed described the figures as misleading, stressing that they were presented without proper context and failed to acknowledge legitimate and traceable sources of funding that predated his appointment as NMDPRA chief executive.

Education Funding: Scholarships, Family Trusts and Personal Savings

Ahmed disclosed that three of his four children benefited from merit-based scholarships that covered between 40 and 65 per cent of their tuition costs. According to him, the awards were strictly based on academic performance and were not influenced by his public office. He noted that all relevant documentation exists and can be made available to authorised investigators.

Beyond scholarships, Ahmed explained that education trust funds established by his late father, a businessman who died in 2018, provided additional support. He said these funds were set up in line with long-standing family traditions that emphasise collective investment in education, particularly for younger generations.

The NMDPRA chief added that the remaining expenses were covered through his personal savings, built over 30 years of uninterrupted service in Nigeria’s petroleum regulatory institutions, beginning with his entry into the civil service in 1991. He argued that when scholarships, family contributions and long-term savings are properly accounted for, his personal financial obligation is consistent with his professional standing and length of service.

Ahmed:Transparency, Remuneration and Asset Declarations

Addressing questions about his income, Ahmed stated that his annual remuneration, estimated at about ₦48 million including allowances, is publicly disclosed in the NMDPRA’s audited financial statements. He added that his assets have been declared annually to the Code of Conduct Bureau, in compliance with public service regulations.

He further authorised the educational institutions attended by his children to release relevant financial records to authorised investigators, expressing confidence that such disclosures would disprove allegations of illicit funding. Ahmed also dismissed suggestions that unlawful funds could have been used to pay foreign school fees, noting that overseas institutions require payments from legitimate and traceable sources.

In a move aimed at reinforcing transparency, Ahmed formally invited the Code of Conduct Bureau, the Economic and Financial Crimes Commission and the National Assembly to investigate both his finances and his conduct as a regulator. He pledged full cooperation, stating that every income source, investment and significant expenditure is documented and available for scrutiny.

Regulatory Independence and Industry Reforms

Ahmed linked the emergence of the allegations to intensified enforcement of the Petroleum Industry Act by the NMDPRA. He said recent regulatory actions have included stricter licensing requirements, enhanced fuel quality enforcement, transparent pricing mechanisms and the open publication of supply and import data.

According to him, regulatory independence often generates friction with commercial interests that benefited from past opacity in the sector. He stressed that decisions such as granting import licences were taken strictly in line with the law to ensure national energy security, particularly when domestic supply is insufficient.

Reaffirming his commitment to transparent and independent regulation, Ahmed said personal attacks would not deter him from discharging his statutory responsibilities. He maintained that his career, spanning several administrations and economic cycles, has been guided by the principle that Nigeria’s national interest must always come before personal or commercial considerations.