Dangote Group has dismissed as false and malicious a publication alleging that its President, Aliko Dangote, distanced himself from Tony Elumelu and financed the Dangote Petroleum Refinery through personal borrowing from friends.
The Dangote Group has dismissed as “false, malicious, and baseless” a publication claiming its President, Aliko Dangote, fell out with Tony Elumelu, after a failed request for financial assistance during the construction of the multi-billion-dollar refinery.
In a statement issued by the Group Chief Branding and Communications Officer, Anthony Chiejina, and shared with PREMIUM TIMES, the company referenced a publication titled “Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu,” saying its President, Mr Dangote, never made such statements.
It said neither Mr Dangote nor the Group had at any time expressed such sentiments or suggested any form of estrangement with Tony Elumelu, the Chairman of Heirs Holdings.
“The Group categorically rejects claims that the development of the Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends,” the statement said.
It described the claims as wholly inaccurate and a deliberate misrepresentation of facts.
The disclaimer followed the circulation of a viral post alleging that Mr Dangote fell out with Mr Elumelu after a failed request for financial assistance during the construction of the multi-billion-dollar refinery.
The post triggered widespread reactions across major social media platforms, especially X, formerly Twitter.
According to the company, Mr Dangote does not fund his projects through personal borrowing from friends and does not engage in such lending arrangements.
It challenged anyone making such claims to provide verifiable evidence to substantiate them.
The company also described as false reports suggesting a breakdown in the relationship between Mr Dangote and Mr Elumelu, noting that both businessmen maintain a longstanding and cordial relationship.
The Group further raised concerns over what it described as a growing trend of fabricated statements and the unauthorised use of Mr Dangote’s name, likeness, and image in AI-generated advertisements and other misleading content.
It said such actions amount to reputational damage and potential fraud.
“All individuals, organisations, and platforms involved in the creation, publication, or dissemination of such false content are hereby put on notice to desist immediately,” the statement added.
The company warned that it would take necessary steps, including legal action where required, to protect its reputation and that of its leadership.
Dangote Group reiterated its commitment to maintaining high standards of integrity while continuing to drive industrialisation, economic self-sufficiency, and sustainable development across Africa.
Reacting to the controversy, billionaire businessman and Chairman of FirstHoldCo Plc, Femi Otedola, in a post titled “Let’s Set the Record Straight” published on his official X account on Monday, clarified that Mr Dangote never sought financial assistance from him or others during the construction of the refinery.
He referred to one of the viral posts claiming that he had financed the refinery.
“Reports claiming that Femi Otedola funded the Dangote Petroleum Refinery are completely and utterly false. He has not invested a single kobo, not one dollar, not one naira. The real story, which those peddling these lies conveniently ignore, is that Mr Otedola has actually been requesting a special allocation to participate in the refinery’s forthcoming public offer,” he wrote.
“I can categorically state that at no point did Alhaji Dangote request financing from Mr Elumelu, Mr Adenuga, or myself. The Dangote Group is a well-structured organisation that is well versed in raising structured capital for its operations,” Mr Otedola said.
He described the rumours as a calculated mischief and a deliberate attempt to create rifts and sow discord within Nigeria’s closely knit and respected private sector leadership.
“These are men who have built businesses, created jobs, and invested in this nation for decades. They deserve better than to be used as props in a social media fabrication,” he said.
He urged those peddling falsehoods to desist immediately.
“And to everyone else, social media is not a tool for manufactured drama. Nigeria deserves truth, not lies dressed up as insider information,” Mr Otedola added.
