The Dangote Group has dismissed as false and malicious claims of a rift between its president, Aliko Dangote and the chairman of Heirs Holdings, Tony Elumelu , and denied allegations that Dangote sought personal financial support for his refinery project.
In a statement issued Sunday and signed by its Group Chief Branding and Communications Officer, Anthony Chiejina the company described as “entirely baseless” a publication claiming Dangote explained why he distanced himself from Elumelu.
“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 statement said.
The company said the report misrepresented both personal and corporate positions and stressed there is no disagreement between the two business leaders.
It also rejected claims that the multibillion-Dangote Petroleum Refinery and Petrochemicals was financed through personal borrowing from friends, describing the assertion as 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. Any individual making such claims should provide verifiable evidence to substantiate them,” the statement said.
The group said Dangote and Elumelu continue to maintain a longstanding and cordial relationship despite reports suggesting otherwise.
The clarification follows the circulation of a widely shared online post alleging that Dangote fell out with Elumelu after a failed request for financial assistance during the construction of the refinery.
The post, which the company disowned, claimed that in 2021, when the refinery project was about half completed, Dangote sought support from business associates, including Femi Otedola, Abdulsamad Rabiu, Mike Adenuga and Elumelu.
It further alleged that Elumelu promised $20 million but later became unreachable, while other associates reportedly raised $500 million, with Otedola said to have contributed $300 million.
The Dangote Group said the claims were fabricated and should not be attributed to its president.
The company also raised concerns over what it described as a growing trend of fabricated statements and the unauthorized use of Dangote’s identity in digitally manipulated and artificial intelligence-generated content.
It warned that the misuse of his name, likeness and image in misleading materials poses reputational risks and could amount to fraud.
The group urged individuals and organizations involved in creating or disseminating false information to desist, warning it would pursue legal action where necessary to protect its reputation and that of its leadership.
It reaffirmed its commitment to maintaining high standards of integrity while continuing its industrial and economic contributions across Africa.
