Femi Otedola, a billionaire businessman, has refuted claims that he provided funding for the Dangote Petroleum Refinery, calling them wholly untrue and an intentional attempt to deceive the people.
Contrary to rumors circulating on social media, Otedola denied having made any financial investments in the refinery in a statement issued on Monday.
He said that instead of being the refinery’s financier, he had been looking for a special allocation so that he could take part in the upcoming public offering.
“It is completely untrue to say that Femi Otedola funded the Dangote Petroleum Refinery,” he declared. Not a single kobo, dollar, or naira has been invested by him.
The truth is that Mr. Otedola has been asking for a special allocation to take part in the refinery’s upcoming public sale, which those who are spreading these allegations simply disregard.
Otedola claims that Dangote never asked for funding.
Otedola also refuted allegations that he or other well-known Nigerian businesspeople were approached by Aliko Dangote, President of the Dangote Group, to finance the refinery project.
He claims that Dangote Group is a well-organized company that can raise money for its activities without using the kind of arrangement that is being accused.
“I can categorically state that at no point did Alhaji Dangote request financing from Mr. Elumelu, Mr. Adenuga, and myself,” he declared.
The Dangote Group is a well-organized company with extensive experience obtaining structured financing for its business operations.
“Calculated Mischief”
The businessman called the article “calculated mischief,” claiming it was intended to incite conflict among prominent members of Nigeria’s corporate sector.
Otedola stated that the people named in the claim should not be included in what he described as a social media fiction because they had spent decades establishing companies, generating employment, and making investments in the Nigerian economy.
“This is calculated mischief and a deliberate attempt to sow discord and create rifts within Nigeria’s closely knit and respected private sector leadership,” he declared.
These men have spent decades investing in this country, starting businesses, and creating jobs. They should not be utilized as props in a social media hoax.
Otedola Issues a Warning Against False Information on Social Media
Otedola warned individuals responsible for the story to cease disseminating lies, saying social media shouldn’t be used to create drama or deceive Nigerians.
“To those behind this: desist immediately,” he continued. Furthermore, social media is not a tool for staged drama, according to everyone else. Nigeria deserves the truth, not falsehoods disguised as insider knowledge!
