Refinery financing report false, no dispute with Elumelu — Dangote group

The Dangote Group has dismissed as false and malicious a report alleging a fallout between its President, Aliko Dangote, and Tony Elumelu over refinery financing.

In a statement issued by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company said neither Dangote nor the organisation made the claims attributed to them, describing the publication as a misrepresentation of both personal and corporate positions.

The group also refuted suggestions that the Dangote Petroleum Refinery was financed through personal borrowing from friends, calling the assertion inaccurate and misleading.

According to the statement, Dangote does not fund his projects through informal personal loans or similar arrangements, adding that such claims lack credible evidence.

The company further clarified that there is no rift between Dangote and Elumelu, noting that both business leaders maintain a long-standing cordial relationship.

It also expressed concern over what it described as a growing trend of fabricated statements and the unauthorised use of Dangote’s name and image in AI-generated advertisements and other 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, stressing that it would take appropriate legal action 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.