Billionaire businessman and Chairman of First Bank Holding, Femi Otedola, has dismissed claims that he financed the Dangote Petroleum Refinery, describing such reports as false and misleading.
Newsonspot reports that in a statement shared via his X (formerly Twitter) account on Monday, Otedola firmly denied investing in the refinery owned by Aliko Dangote.
“Let’s set the record straight: Reports claiming that Femi Otedola funded the Dangote Petroleum Refinery are completely and utterly false. He has not invested a single kobo, not one dollar, not one naira,” he stated.
Clarifying his position, Otedola explained that rather than funding the project, he had only expressed interest in participating in the refinery’s anticipated public offer through a special allocation request.
He further addressed speculation involving other prominent business figures, noting that Dangote never sought financial support from him or other notable entrepreneurs.
“I can categorically state that at no point did Alhaji Dangote request financing from Mr. Elumelu, Mr. Adenuga, and myself,” he added.
Otedola also cautioned against the spread of misinformation, urging those responsible for circulating such claims to desist. He emphasized the need for truth and responsible use of social media.
“To those behind this: desist immediately… And to everyone else, social media is not a tool for manufactured drama. Nigeria deserves truth, not lies dressed up as insider information,” he concluded.
The clarification comes amid heightened public interest in the operations and ownership structure of the Dangote Refinery, one of Africa’s largest industrial projects.
