Dangote Group has strongly rejected claims regarding the financing of its flagship refinery project and reports of a personal fallout between its President, Aliko Dangote, and fellow business leader Tony Elumelu, describing the allegations as “false, malicious, and baseless.”
In an official statement issued by the company’s Group Chief Branding and Communications Officer, Anthony Chiejina, the conglomerate said neither Dangote nor the organisation made the statements attributed to them, stressing that the publication misrepresents both personal and corporate positions.
The company also dismissed assertions that the Dangote Petroleum Refinery was financed through personal borrowing from friends, calling the claims inaccurate and misleading.
“As a matter of principle, Aliko Dangote does not finance projects through personal borrowing from friends or informal lending arrangements,” the statement said, adding that any such allegations must be backed by verifiable evidence.
Addressing speculation about a rift between Dangote and Elumelu, the Group reiterated that both business leaders maintain a longstanding and cordial relationship, rejecting suggestions of any estrangement.
The company further raised concerns 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 advertisements and misleading digital content. It warned that such actions could pose reputational risks and potentially amount to fraud.
Dangote Group cautioned individuals and platforms involved in the dissemination of false information to desist immediately, noting that it is prepared to pursue legal action where necessary to protect its reputation and leadership.
The clarification comes as the Group continues to position the refinery—one of Africa’s largest industrial projects—as central to Nigeria’s energy security and broader push for industrialisation and economic self-sufficiency.
