Obi Weighs in on Dangote, Farouk $5m School Fees Allegation, Says Funds Can Transform Basic Education

Chuks Okocha in Abuja

The presidential candidate of Labour Party (LP) in the 2023 election, Mr. Peter Obi, yesterday, offered his perspective on the controversy surrounding allegations that former Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, spent about $5 million on the secondary education of his children abroad.

Obi said the amount, if invested locally, could have made a significant impact in reducing Nigeria’s out-of-school children population and strengthening the country’s education system.

He made the remarks in a post, titled, “The Farouk Controversy and the Question of Public Responsibility,” shared on his official X handle.

Obi observed that a businessman Aliko Dangote, President of the Dangote Group, had alleged that Ahmed spent about $5 million on the education of his four children in Switzerland, and had called for a full investigation and public explanation.

“At current exchange rates, $5 million is approximately N7.5 billion. In a country with over 18 million out-of-school children — the highest number in the world — such allegations raise questions about proportionality, public trust, and moral responsibility,” Obi wrote.

He stressed that the issue was not about parents investing in their children’s education, but about the scale and context of such spending when linked to a public official in a country grappling with widespread poverty and inequality.

He stated, “Education is one of the greatest legacies a parent can give a child. No reasonable person begrudges parents for investing in their children’s future.

“The concern here is the moral implication when such resources exist alongside massive educational deprivation.”

Obi outlined what he described as a hypothetical alternative use of N7.5 billion within Nigeria’s education sector.

He said the amount could fund the construction of 25 school blocks at N35 million each, accommodating about 6,000 students annually.

He said each school block could employ 18 teachers, creating jobs for about 450 teachers nationwide. With a proposed monthly salary of N125,000 per teacher, the annual wage bill would amount to N675 million.

Obi further explained that after accounting for construction and first-year salaries, the remaining funds could be invested in government bonds, generating returns sufficient to cover maintenance, learning materials, utilities, meals, and recurring salaries, thereby creating what he described as a self-sustaining education system.

“In simple terms, the amount allegedly spent on the education of four children could establish a self-funding education ecosystem that educates 6,000 Nigerian children every year and employs 450 teachers,” he said.

The former Anambra State governor reiterated his long-held position that public office holders must be guided by prudence, accountability, and a strong sense of public responsibility, especially in a country facing severe social and economic challenges.