The Dangote Group has dismissed as “false and malicious” a viral publication claiming that the Dangote Petroleum Refinery was financed through personal borrowing from friends, describing the allegations as inaccurate and a deliberate distortion of facts.
In a statement issued on Sunday, Group Chief Branding and Communications Officer Anthony Chiejina said neither the company nor its President, Aliko Dangote, made the claims attributed to them, adding that the report misrepresented both personal and corporate positions.
The clarification followed the circulation of an online post alleging that Dangote had fallen out with businessman Tony Elumelu after an alleged failed request for financial assistance during the refinery’s construction.
The post, which the company disowned, also claimed that in 2021 Dangote approached several business associates—including Femi Otedola, Abdulsamad Rabiu, Mike Adenuga, and Elumelu—for funding support after running short of capital, with specific figures cited regarding alleged contributions.
Dangote Group, however, rejected the narrative in its entirety, insisting that it was fabricated and should not be linked to its president.
“As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in such lending arrangements,” the statement said, stressing that any such claims must be backed by verifiable evidence.
The company also denied reports of any rift between Dangote and Elumelu, noting that both business leaders maintain a longstanding and cordial relationship.
It further expressed concern over what it described as a growing trend of fabricated statements and the unauthorised use of Dangote’s name, image, and likeness in AI-generated and misleading content, warning that such practices pose reputational risks and could amount to fraud.
The group cautioned individuals and platforms involved in spreading false information to desist, adding that it would take legal steps where necessary to protect its reputation and leadership.
Dangote Group reaffirmed its commitment to integrity, while continuing its focus on industrialisation, economic self-sufficiency, and sustainable development across Africa.
