Dangote Group Denies Rift with Tony Elumelu, Refutes Claims on Refinery Financing

Dangote Group Denies Rift with Tony Elumelu, Refutes Claims on Refinery Financing

The Dangote Group has dismissed as false and malicious a report alleging a rift between its President, Aliko Dangote, and Tony Elumelu, while also rejecting claims that the Dangote Petroleum Refinery was financed through personal borrowing from friends.

In a statement issued by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company described the publication as baseless, noting that neither Dangote nor the organisation made the claims attributed to them.

The Group said the report misrepresents both personal and corporate positions, stressing that suggestions of any estrangement between Dangote and Elumelu are entirely untrue. It reaffirmed that both business leaders maintain a longstanding and cordial relationship.

Addressing claims surrounding the financing of the Dangote Petroleum Refinery & Petrochemicals, the company stated that assertions the project was funded through personal loans from friends are inaccurate and misleading.

“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 read, challenging those making such allegations to provide verifiable evidence.

The company also 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 advertisements and other misleading content.

It warned that such actions pose reputational risks and could amount to fraud, urging individuals, organisations, and platforms involved in the creation or dissemination of false information to desist immediately.

The Dangote Group added that it would pursue legal action where necessary to protect its reputation and that of its leadership.

Reaffirming its corporate values, the Group said it remains committed to maintaining the highest standards of integrity while continuing to drive industrialisation, economic self-sufficiency, and sustainable development across Africa.