The Dangote Group has strongly denied viral claims suggesting its flagship refinery project was funded through personal loans from associates, describing the report as misleading and without merit.
The business rejected claims made by its communications team that its president, Aliko Dangote, asked friends for financial assistance during the building of the refinery in a statement released by it. It also rejected claims of any rift with Tony Elumelu, emphasizing that the two business executives have a friendly relationship.
The controversy arose from a widely shared internet post that attributed comments to Dangote, stating he reached out to several prominent people for help during a crucial phase of the refinery project.
The post further claimed that although some people did not fulfill promised funds, others made notable donations. The business has now totally disassociated itself from those charges.
The News Chronicle reports that the refinery project was funded through structured institutional funding, not informal personal arrangements, contrary to the story spreading online. Industry insiders claim the explanation is intended to safeguard the integrity of one of Africa’s largest industrial enterprises.
The group also expressed concerns about the growing spread of false information and the illegal use of Dangote’s identity in digital advertisements, warning that it could pursue legal action against those responsible.
The company reaffirmed its focus on driving industrial growth and maintaining transparency in its operations.
