The Dangote Group has refuted recent online reports alleging a dispute between its founder, Aliko Dangote, and United Bank for Africa chairman Tony Elumeli, as well as claims that the Dangote Petroleum Refinery & Petrochemicals was funded through personal loans from friends.
In a statement released on Saturday, the group’s spokesperson, Anthony Chiejina, described the circulating story titled “Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumeli” as false, malicious and baseless. The statement affirmed that neither Aliko Dangote nor the company has made any such comments, and that no rift exists between the two businessmen, who have maintained a long‑standing, cordial relationship.
The press release also rejected allegations that the multi‑billion‑dollar Dangote Petroleum Refinery & Petrochemicals project was financed through informal borrowing from personal acquaintances. “Aliko Dangote neither finances his projects through personal borrowing nor engages in such lending arrangements,” the group wrote, adding that any party making these accusations must provide verifiable evidence.
In addition to the disputed personal‑finance narrative, the Dangote Group highlighted a broader pattern of fabricated statements and the unauthorised use of Aliko Dangote’s name, likeness and image in artificial‑intelligence‑generated advertisements and other misleading content. The group warned that such actions constitute reputational harm and potential fraud.
The statement concluded with a formal notice to individuals, organisations and platforms involved in creating, publishing or disseminating the false material: they must cease these activities immediately. The Dangote Group said it will pursue all available legal remedies to protect its reputation and that of its leadership.
Founded in 1981, the Dangote Group is Africa’s largest conglomerate, with interests spanning cement, sugar, salt, flour, and recently, petroleum refining. The Dangote Petroleum Refinery & Petrochemicals, situated in Lagos, is projected to become the continent’s biggest integrated refinery, with a capacity of 650,000 bbl per day. Its successful completion is seen as a key driver of Nigeria’s economic self‑sufficiency and a catalyst for broader industrialisation across the region.
The group’s swift repudiation of the rumours underscores the sensitivity of corporate reputations in an era of rapid digital content creation. By reiterating its commitment to transparency and integrity, the Dangote Group aims to mitigate misinformation while continuing its expansion plans.
Stakeholders and observers are advised to rely on official communications from the Dangote Group for accurate information regarding its projects and leadership. Further legal action may be pursued against parties found responsible for the alleged defamation.
