Dangote Group has dismissed as “false and malicious” a publication alleging that the Dangote Petroleum Refinery was financed through personal borrowing from friends, describing the claims as inaccurate and a deliberate misrepresentation of facts.
Group Chief Branding and Communications Officer, Anthony Chiejina, in a statement on Sunday, also denied that its President, Aliko Dangote, distanced himself from Tony Elumelu, describing the report as entirely baseless.
The company said neither Dangote nor the Group made the claims attributed to them, stressing that the publication misrepresents both personal and corporate positions.
The clarification followed the circulation of a widely shared online post, which alleged that Dangote fell out with Elumelu after a failed financial assistance request during the construction of the refinery.
In the post, attributed to Dangote but now disowned by the company, the author claimed that in 2021, when the refinery project was about half-completed, he ran out of funds and approached several business associates for support, including Femi Otedola, Abdulsamad Rabiu, Mike Adenuga, and Elumelu.
The post further alleged that Elumelu promised $20m but later became unreachable, while other associates reportedly raised $500m to support the project, with Otedola said to have contributed $300m.
However, the Dangote Group said such claims were fabricated and should not be attributed to its president, reiterating that the financing narrative presented in the post was false.
“As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in lending arrangements of that nature,” the statement said, adding that any such claims must be supported by verifiable evidence.
Dangote Group further clarified that there is no rift between Dangote and Elumelu, noting that both business leaders maintain a longstanding and cordial relationship.
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The company also raised concern over a growing pattern of fabricated statements and the unauthorised use of Dangote’s name, likeness, and image in AI-generated advertisements and other misleading content, warning that such actions pose reputational risks and may constitute fraud.
It cautioned individuals and platforms involved in the creation and dissemination of false information to desist immediately, adding that it would pursue appropriate legal action where necessary to protect its reputation and that of its leadership.
Dangote Group reaffirmed its commitment to the highest standards of integrity while continuing to drive industrialisation, economic self-sufficiency, and sustainable development across Africa.
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