Refinery Financing: Dangote Group Slams False Claims on ‘Rift’ with Elumelu

By Love Oyedokun

Dangote Group has dismissed as false and malicious a publication alleging that its President, Aliko Dangote, distanced himself from Tony Elumelu, describing the report as entirely baseless.

Cablenews24 reports that  in a statement issued by its Group Chief Branding and Communications Officer, Anthony Chiejina, 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 Group also rejected assertions that the Dangote Petroleum Refinery was financed through personal borrowing from friends, describing the claims as inaccurate and a deliberate misrepresentation 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 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.

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.

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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.

READ FULL STATEMENT BELOW

PRESS STATEMENT

The Dangote Group has become aware of a publication titled “Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu,” which is false, malicious, and baseless. At no time did the President or the Group make such statements or express such sentiments.

The Group categorically rejects claims that the development of the Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends. These assertions are wholly inaccurate and constitute a deliberate misrepresentation 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. Any individual making such claims should provide verifiable evidence to substantiate them. Equally false are suggestions of any estrangement between Aliko Dangote and Mr Tony Elumelu, with whom he maintains a longstanding and cordial relationship.

Furthermore, the Group notes with concern a rising pattern of fabricated statements and the unauthorised use of Aliko Dangote’s name, likeness, and image in AI generated advertisements and other misleading content. These actions amount to reputational harm 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 Group will take appropriate steps, including legal action where necessary, to protect its reputation and that of its leadership.

Dangote Group remains committed to upholding the highest standards of integrity, while continuing to drive industrialisation, economic self sufficiency, and sustainable development across Africa.

Anthony Chiejina

Group Chief Branding and Communications Officer

Dangote Industries Limited

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