The Dangote Group has strongly refuted what it describes as false and malicious claims surrounding the financing of its flagship refinery project, while also dismissing reports of a supposed rift between its President, Aliko Dangote, and fellow business leader Tony Elumelu.
In a statement issued by the company’s Group Chief Branding and Communications Officer, Anthony Chiejina, the organisation clarified that neither Dangote nor the Group had made any statements suggesting a breakdown in relations with Elumelu. The report in question, it said, was entirely baseless and misrepresented both personal and corporate positions.
Addressing widespread speculation about the funding of the Dangote Petroleum Refinery, the Group categorically rejected assertions that the multibillion-dollar project was financed through personal borrowing from friends.
According to the statement, such claims are not only inaccurate but also a deliberate distortion of facts.
“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 company stated, challenging those making such allegations to provide verifiable evidence.
The clarification comes amid increasing public scrutiny of large-scale infrastructure financing in Nigeria, particularly projects tied to national energy security and industrial growth.
The company also addressed rumors of a personal or professional fallout between Dangote and Elumelu, firmly stating that both leaders maintain a longstanding and cordial relationship.
The clarification aims to put to rest speculation that has circulated across digital platforms, suggesting tensions between two of Africa’s most prominent business figures.
Beyond the financing controversy, the Dangote Group raised alarm over a growing trend involving the unauthorised use of Dangote’s identity in AI-generated advertisements and misleading digital content.
The company warned that such practices not only damage reputations but may also constitute fraud, particularly where they mislead the public or investors.
In a firm caution, the Group called on individuals, organisations, and media platforms involved in the dissemination of false information to cease immediately, noting that it would not hesitate to pursue legal action where necessary.
Reaffirming its corporate stance, the Dangote Group emphasized its commitment to integrity, transparency, and responsible business practices as it continues to drive industrialisation, economic self-sufficiency, and sustainable development across Africa.
