Billionaire investor Femi Otedola has denied claims that he helped finance the Dangote Petroleum Refinery, saying he has not put any money into the project.

He made the clarification in a statement shared on his X account on Monday, describing the reports as false and misleading.

Rumours had suggested that Otedola, alongside Mike Adenuga and Tony Elumelu, funded the refinery. The refinery’s management had earlier dismissed the claim.

Otedola explained that while he has not invested in the refinery, he intends to participate in its planned public share offer on the Nigerian Exchange Limited. He noted that he has been seeking a special allocation to buy into the project when the offer opens.
He also stated that Aliko Dangote never approached him or the other businessmen mentioned for financial support.

Otedola urged the public to avoid spreading unverified information, stressing the need for accuracy over speculation on social media.