Dangote Group has denied claims that its founder, Aliko Dangote, has fallen out with Tony Elumelu, describing the reports as false and malicious.
The rebuttal follows a viral post on X alleging that Dangote had accused Elumelu of failing to fulfil a $20 million financial assistance promise during the construction of the Dangote Refinery.
... further claimed that Dangote sought support from other business leaders, including Femi Otedola, Abdulsamad Rabiu and Mike Adenuga, and that some of them collectively raised $500 million for the project.
However, in a statement issued on Saturday, Anthony Chiejina, group chief branding and communications officer of Dangote Group, dismissed the claims, stating that the content was fabricated.
“At no time did the president or the group make such statements or express such sentiments,” the company said, adding that the post titled ‘Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu’ is “false, malicious, and baseless.”
The company also rejected claims that the Dangote Petroleum Refinery & Petrochemicals project was financed through personal loans from friends.
“Aliko Dangote does not borrow from friends to fund projects,” the statement noted.
“These assertions are wholly inaccurate and constitute a deliberate misrepresentation of facts.”
The group challenged anyone making such claims to provide verifiable evidence to support them.
It also dismissed suggestions of any strained relationship between the two billionaires, emphasising that both businessmen maintain a cordial relationship.
“Equally false are suggestions of any estrangement between Aliko Dangote and Mr Tony Elumelu, with whom he maintains a longstanding and cordial relationship,” the statement added.
The company further expressed concern over what it described as the growing misuse of Dangote’s identity in digital content, including fabricated statements and AI-generated materials.
“These actions amount to reputational harm and potential fraud,” the company said, warning individuals and organisations responsible for such content to desist or face legal action.
The group reiterated its commitment to maintaining high standards of integrity while continuing to drive industrialisation and economic development across Africa.