The Dangote Group has dismissed reports suggesting a fallout between its President, Aliko Dangote, and Tony Elumelu, Chairman of Heirs Holdings, describing the claims as false and misleading.
In a statement issued on Sunday, the company also refuted allegations that Dangote sought personal financial assistance from associates to fund the multi-billion-dollar Dangote Petroleum Refinery & Petrochemicals.
Signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, the statement said a widely circulated publication claiming Dangote had distanced himself from Elumelu was “entirely baseless” and did not reflect the position of either the businessman or the organisation.
“At no time did the President or the Group make such statements or express such sentiments,” the statement noted, adding that there is no disagreement between the two business leaders.
The group further rejected claims that the refinery project was financed through informal personal loans from friends, describing the narrative as inaccurate and a misrepresentation of facts. It stressed that Dangote does not rely on such funding arrangements and challenged those making the claims to provide verifiable evidence.
According to the company, the relationship between Dangote and Elumelu remains cordial, contrary to reports suggesting a breakdown linked to alleged financial dealings during the refinery’s construction.
The clarification follows the circulation of a viral post that claimed Dangote approached several high-profile business figures for financial support when the refinery project faced funding challenges. The post, which has since been disowned by the company, alleged contributions from prominent individuals and suggested that Elumelu failed to fulfill a promised financial commitment.
However, the Dangote Group described the claims as fabricated and warned against attributing such statements to its president.
The company also raised concerns over what it described as a growing trend of misinformation, including the unauthorised use of Dangote’s identity in artificial intelligence-generated content and advertisements.
It cautioned individuals and platforms against spreading false information, warning that legal action may be taken to protect its reputation and that of its leadership.
Reaffirming its commitment to transparency and integrity, the group said it remains focused on driving industrial growth and economic development across Africa.
