The Dangote Group has strongly refuted claims suggesting a fallout between its President, Aliko Dangote, and Chairman of Heirs Holdings, Tony Elumelu, describing the reports as false and malicious.
In a statement issued on Sunday and signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company said a widely circulated publication alleging that Dangote distanced himself from Elumelu was “entirely baseless” and misrepresented both personal and corporate positions.
According to the statement, neither Dangote nor the organisation made any remarks suggesting a disagreement between the two prominent Nigerian businessmen. It stressed that their relationship remains cordial and longstanding.
“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,” the statement said.
The company also dismissed allegations that the multi-billion-dollar Dangote Petroleum Refinery & Petrochemicals project was financed through personal loans from friends. It described the claims as inaccurate and a deliberate distortion of facts.
The group maintained that Dangote does not rely on informal borrowing to fund projects, insisting that any such assertions must be backed by verifiable evidence.
“As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in such arrangements,” the statement added.
The clarification follows a viral online post, falsely attributed to Dangote, which claimed that he sought financial assistance from business associates during the refinery’s construction. The post alleged contributions from notable figures, including Femi Otedola, Abdulsamad Rabiu, and Mike Adenuga, as well as a purported $20 million pledge from Elumelu.
However, the Dangote Group dismissed the claims as fabricated, reiterating that the financing narrative is untrue and should not be linked to its president.
Beyond the specific allegations, the company expressed concern over a growing trend of misinformation and the misuse of Dangote’s identity in AI-generated advertisements and other misleading content. It warned that such actions pose reputational risks and could amount to fraud.
The group further cautioned individuals and platforms spreading false information to desist immediately, noting that it would pursue legal action where necessary to protect its reputation.
Reaffirming its commitment to integrity, the Dangote Group said it remains focused on its industrial and economic contributions across Africa, particularly in promoting self-sufficiency and sustainable development.
