Dangote Group Denies Rift with Elumelu Over Refinery Funds

The Dangote Group on Sunday dismissed as false and malicious a viral social media post alleging a fallout between its president, Aliko Dangote, and Tony Elumelu, chairman of Heirs Holdings, following a supposed request for financial assistance during construction of the company's multibillion-dollar petroleum refinery in Nigeria.

The post, titled "Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu," claimed that in 2021, when the refinery project was halfway complete, Dangote sought funds from business associates including Elumelu, Femi Otedola, Abdulsamad Rabiu, and Mike Adenuga. It alleged Elumelu promised 20 million but later became unreachable, while others raised 500 million, with Otedola contributing 300 million. The post spread widely on platforms like X, formerly Twitter, prompting significant online reactions.

In a statement by Group Chief Branding and Communications Officer Anthony Chiejina, the company categorically rejected the claims. "At no time did the President or the Group make such statements or express such sentiments," it said. The group emphasized that Dangote does not finance projects through personal borrowing from friends or engage in...