Otedola Denies Funding Dangote Refinery Amid False Claims

Femi Otedola, a billionaire businessman, has publicly denied allegations that he is funding the Dangote Refinery, describing these claims as completely false and a deliberate attempt to mislead the public. In a statement released on Monday, Otedola clarified that he has not invested any money in the refinery, contrary to circulating claims on social media.

He stated that the refinery is financially structured to raise capital without needing such arrangements. Otedola criticized the reports as calculated mischief designed to create tension among respected figures in Nigeria's private sector.

He emphasized his long-term commitment to building businesses, creating jobs, and investing in the Nigerian economy, urging the public to refrain from spreading falsehoods. Otedola's statement comes amid discussions about the refinery's upcoming public offer, in which he seeks special allocation to enable his participation.