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Dangote Denies Rift With Elumelu, Dismisses Refinery Loan Claims

by Present Nigeria
May 3, 2026
in Business
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The Dangote Group has addressed viral claims suggesting a rift between its president, Aliko Dangote, and fellow businessman Tony Elumelu, describing the reports as false and misleading.

In a statement issued by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company warned individuals, organisations, and platforms involved in the creation, publication, or dissemination of such false content to desist immediately.

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The company stated that claims suggesting Dangote Petroleum Refinery & Petrochemicals was funded through personal loans from friends are false and amount to a deliberate misrepresentation of facts.

The company said, “As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in lending arrangements of that nature. Any individual making such claims should provide verifiable evidence to substantiate them.”

Regarding the alleged estrangement between Aliko Dangote and Tony Elumelu, the group described it as “equally false”, adding that the two maintained a longstanding and cordial relationship.

Furthermore, the Group also condemned the rising pattern of fabricated statements and the unauthorised use of Aliko Dangote’s name, likeness, and image in AI-generated advertisements and other misleading content.

The Group said, “These actions amount to reputational harm and potential fraud.”

The Group said it will take appropriate steps, including legal action where necessary, to protect its reputation and that of its leadership.

“Dangote Group remains committed to upholding the highest standards of integrity, while continuing to drive industrialisation, economic self-sufficiency, and sustainable development across Africa,” the statement concluded.

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PRESENT, a credible online newspaper from the cell of Red Carpet Communications Limited, is published by an experienced and profoundly resourceful journalist, Yemi Olowolabi.
It leads in lucid presentation of trending stories and breaking news in Politics, Business, Economy, Entertainment, Sports, Lifestyles and Other Features.
With a heritage of in-depth coverage and adept leverage of core professionals, PRESENT is the trusted witness of the news.

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