OTEDOLA “I DID NOT FUND DANGOTE REFINERY” — CLAIMS DISMISSED AS FALSE

May 4, 2026

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By: Tajudeen Aminat

“Reports suggesting that Femi Otedola financed the Dangote Petroleum Refinery are entirely false. He has not invested any amount—no kobo, no dollar, no naira. The truth, often ignored by those spreading such claims, is that Mr. Otedola has instead been seeking a special allocation to take part in the refinery’s upcoming public offer.”

I can state unequivocally that at no time did Alhaji Dangote seek financial support from Mr. Elumelu, Mr. Adenuga, or myself. The Dangote Group is a well-structured organisation with strong expertise in raising capital for its operations. What is being circulated is a calculated attempt to mislead the public and create unnecessary tension among Nigeria’s respected private sector leaders—individuals who have spent decades building businesses, generating employment, and investing in the country. They should not be reduced to subjects of social media falsehoods.

Those responsible for spreading these claims should stop immediately. Social media should not be used to fabricate narratives or stir controversy. Nigeria deserves facts, not misinformation disguised as insider knowledge.