Otedola denies funding Dangote Refinery, plans public offer allocation
Femi Otedola insists he has not invested 'a single kobo, not one dollar, not one naira' in the Dangote Refinery, dismissing funding claims as 'completely and utterly false' in a Monday X statement. He clarified that while he never received financing requests from Dangote, he plans to seek a special allocation for the refinery's forthcoming public offer on the Nigerian Exchange Limited.
The denial follows weekend reports linking Otedola, United Bank of Africa chairman, and Globacom founder Mike Adenuga to financing the refinery - claims the Dangote Refinery also labeled false. Otedola urged social media users to stop spreading 'manufactured drama,' insisting Nigeria deserves truth over lies.
Investors should note Otedola's actual position: zero current involvement but active pursuit of public offer access. The Dangote Refinery's public listing remains pending, with no date announced for the NGX offering.