Nigerian billionaire businessman Femi Otedola has dismissed claims linking him to the financing of the Dangote Petroleum Refinery, describing the reports as “completely and utterly false.”
In a strongly worded statement, Otedola said he had not invested “a single kobo, not one dollar, not one naira” in the refinery, contrary to widespread speculation on social media.
He clarified that while he has shown interest in participating in the refinery’s forthcoming public offer, this should not be misconstrued as prior financial involvement in the project.
Otedola further revealed that at no time did Africa’s richest man, Aliko Dangote, seek financial support from him or other prominent business figures, including Tony Elumelu and Mike Adenuga.
According to him, the Dangote Group remains a “well-structured organisation” with the capacity to independently raise capital for its large-scale operations.
He accused those spreading the claims of attempting to create division among Nigeria’s business elite, warning that such narratives are “calculated mischief” aimed at sowing discord within the private sector.
“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,” he said.
Otedola also cautioned the public against misinformation, urging Nigerians to rely on verified facts rather than unsubstantiated claims circulating online.
The clarification comes amid growing public interest in the Dangote Refinery and its ownership structure, as well as expectations surrounding its anticipated public offering.
