Aliko Dangote’s company has strongly denied reports claiming he fell out with fellow billionaire Tony Elumelu, describing the viral story as false, malicious, and misleading.
In a statement released on Sunday, Dangote Group said there was no disagreement between its President, Aliko Dangote, and the Chairman of Heirs Holdings, Tony Elumelu. The company stressed that neither Dangote nor the organisation made the comments circulating online.
The statement, signed by Group Chief Branding and Communications Officer Anthony Chiejina, rejected a widely shared report that alleged Dangote explained why he distanced himself from Elumelu. According to the company, the publication completely misrepresented both personal and corporate positions.
Dangote Group also dismissed claims that the multi-billion-dollar Dangote Petroleum Refinery was funded through personal loans from friends and associates. It described the allegation as inaccurate and a deliberate attempt to spread falsehood.
The company stated clearly that Dangote does not finance projects through informal borrowing arrangements. It added that anyone making such claims should provide verifiable proof.
Furthermore, the group reaffirmed that Dangote and Elumelu still share a cordial and longstanding relationship despite the rumours making rounds online.
The controversy followed a viral social media post that falsely claimed Dangote approached top Nigerian businessmen in 2021 for financial help after running short of funds during the refinery construction. The post mentioned names such as Femi Otedola, Abdulsamad Rabiu, Mike Adenuga, and Tony Elumelu.
It also alleged Elumelu promised $20 million before becoming unreachable, while others reportedly contributed hundreds of millions of dollars. However, Dangote Group has now dismissed the entire story as fabricated.
In addition, the company raised concern over the growing use of fake statements and unauthorised digital content involving Dangote’s identity. It warned that AI-generated adverts, manipulated images, and false narratives could damage reputations and expose the public to fraud.
Dangote Group warned individuals, platforms, and organisations spreading false information to stop immediately. It added that legal action may follow if such activities continue.
The company also reaffirmed its commitment to industrial growth, African self-sufficiency, and sustainable development through investments across the continent.
The development highlights the growing danger of misinformation in the digital era, especially when high-profile business leaders become targets of fake stories designed to attract clicks and online attention. TTYBrand Africa continues to monitor verified business news across the continent.
