Nigerian businessman, Mr Femi Otedola, has dismissed reports suggesting he has a stake and financed the Dangote Petroleum Refinery, describing the allegation as completely false.
The billionaire, who is a close ally of Mr Aliko Dangote, the owner of the $20 billion oil facility, clarified in a statement on Monday that those behind such claims were spreading misinformation and attempting to create division among leading Nigerian business figures.
His clarification came a day after the Dangote Group addressed viral claims suggesting a financing rift between its president, Mr Dangote, and fellow businessman, Mr Tony Elumelu.
He wrote, “Let’s set the record straight. Reports claiming that Femi Otedola funded the Dangote Petroleum Refinery are completely and utterly false. He has not invested a single kobo, not one dollar, not one naira.”
He added that, “The real story, which those peddling these lies conveniently ignore, is that Mr Otedola has actually been requesting a special allocation to participate in the refinery’s forthcoming public offer.”
Mr Otedola further explained that Mr Dangote did not request financial support from Mr Elumelu, Mr Mike Adenuga, or himself, a statement that aligns with a clarification issued by the Dangote Group’s Chief Branding and Communications Officer, Mr Anthony Chiejina.
The company also warned individuals, organisations, and platforms involved in creating, publishing, or disseminating such false content to desist immediately.
Mr Otedola said, “I can categorically state that at no point did Alhaji Dangote request financing from Mr Elumelu, Mr Adenuga and me. The Dangote Group is a well-structured organisation that is well-versed in raising structured capital for its operations.
“This is calculated mischief and a deliberate attempt to create rifts and sow discord within Nigeria’s closely knit and respected private sector leadership. These are men who have built businesses, created jobs, and invested in this nation for decades. They deserve better than to be used as props in a social media fabrication.”
“To those behind this: desist immediately.. And to everyone else, social media is not a tool for manufactured drama. Nigeria deserves truth, not lies dressed up as insider information,” Mr Otedola warned.
