Otedola and Dangote Group Refute Refinery Funding Rumours

Billionaire Femi Otedola has dismissed claims that he financed the Dangote Petroleum Refinery. He insisted he did not invest “a single kobo” and only sought a special allocation for the project’s upcoming public offer. Otedola clarified that neither Aliko Dangote nor other business leaders such as Tony Elumelu or Mike Adenuga requested funding from him. The Dangote Group also issued a statement calling the reports false and misrepresentative. Both statements highlight the group’s strong capital structure and warn against the spread of unverified information. They emphasise the need for responsible use of social media and caution that false claims could lead to legal consequences.

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