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2023 Election : Tinubu, Atiku, Obi roll out plans on economy, security

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Nigerian Bar Association (NBA) President-elect Yakubu Maikyau; All Progressives Congress (APC) vice presidential candidate Kashim Shettima; NBA President Olumide Akpata; Chairman, Technical Committee on Conference Planning Tobenna Erojikwe; Guest Speaker Chimamanda Ngozi Adichie; Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar; Edo State Governor Godwin Obaseki; Social Democratic Party (SDP) presidential candidate Prince Adewole Adebayo and Labour Party (LP) presidential candidate Peter Obi at the opening of the 2022 NBA Annual Conference in Lagos…

Shettima: APC standard bearer and I will replicate our Lagos, Borno feats
Nigeria’s unity, power devolution not negotiable, says PDP candidate
LP flagbearer promises to transform Nigeria to a productive economy
Presidential candidates of the All Progressives Congress (APC) Asiwaju Bola Tinubu, Peoples Democratic Party (PDP) Atiku Abubakar and Labour Party (LP) Peter Obi yesterday rolled out their plans on the economy and insecurity, two of the most critical problems confronting the country.

They were guests at a plenary of the ongoing 62nd Nigerian Bar Association Annual General Conference (NBA-AGC) in Lagos.

The conference theme is Bold Transitions, while the session theme was: Democratic transitions in 21st Century Nigeria: 2023 and beyond.

Nigerians have been reeling under tough economic conditions, with inflation at over 19 per cent, an all-time high in 17 years, according to the National Bureau of Statistics (NBS).

There have been frequent terror attacks, including kidnapping for ransom, insurgency, killings and farmer-herder clashes, among others.

But the presidential candidates sounded confident they would solve the problems if given the chance in 2023.

They also sold their plans on how to revamp the economy.

The flag bearers of the Social Democratic Party (SDP), Adewole Adebayo and All Progressives Grand Alliance (APGA), Peter Umeadi (former Chief Judge of Anambra State) also answered questions on their plans.

The keynote speaker, novelist Chimamanda Ngozi Adichie, said Nigeria must get its leadership choice right at the poll next year.

The session, moderated by former NBA president Olisa Agbakoba (SAN), had an estimated 13,000 lawyers in attendance physically or virtually.

‘Tinubu’ll deploy mastery of financial management’
APC vice presidential candidate and former Borno State Governor Kashim Shettima, who represented Tinubu, said the former Lagos State governor will deploy his “mastery of financial management capabilities” in revamping the economy.

He said he (Shettima) would use his eight-year experience tackling Boko Haram in Borno to deal with banditry and insurgency.

According to him, the strength of the country’s armed forces is abysmal relative to its challenges and compared to its peer countries.

He believes Nigeria’s troops need to be boosted to at least 960,000.

Shettima said: “I want us to juxtapose two scenarios. At the end of the unfortunate Nigerian civil war, the Nigerian Armed Forces ballooned to 250,000 combat troops.

”In 1970, Nigeria’s population was 55.9million, our GDP was $22billion, and our military spending was $660million representing 5.28 per cent of our GDP.

“I would like us to juxtapose the figures in 1970 with the figures for 2022. At the end of July, Nigeria’s population was 216.9 million.

“Our GDP was $455million and our total number of troops was 213,000. The percentage of our GDP that is spent on the military for security was only 0.5 per cent.”

He noted that Nigeria’s “peers across the world” such as Iraq, Israel and Turkey spend far higher percentages.

He argued that the Tinubu-Shettima ticket was the best combination to tackle Nigeria’s economic, security and other challenges because of their vast experience.

“I will handle the security and lead the troops while my principal (Bola Ahmed Tinubu), who is an economic wizard will handle the economy,” he said.

The former Borno State governor said his combination with Tinubu, if elected next year, will replicate the “wonders” they performed in Borno and Lagos states.

Shettima said: “Nigerians have the capability to see through the worn-out rhetoric and sophistry of pretentious politicians.

“Nigerians should follow the man wey know the road. From day one, we will hit the ground running. We’ll promptly address the issue of the economy, ecology, and security.

“We have the antecedents. I built some of the best schools in Nigeria. Go to Borno and see wonders; you will never believe that it is a state in a state of war.

“So, we are going to replicate our achievements in Lagos, Borno and some of the frontline states so that our nation will be a better place. The fundamental issue is pure leadership.”

Shettima urged Nigerians to consider the strengths of a Tinubu presidency as exemplified by the latter’s performance as Lagos governor and his skillset.

“He is a city boy, I am the golden boy,” Shettima said.

Reflecting on the poor state of the Lagos economy before 1999, he emphasised Tinubu’s successes in transforming the its finances.

“Now, Lagos is earning N51billion every month as its internally generated revenue. Lagos is the third largest economy in Africa,” he said.

Shettima said beside establishing an “excellent track record for performance”, Tinubu has also “mentored men and women who are excelling in different fields of human endeavours.”

He credited himself with excelling as a staff of Zenith Bank in Lagos and elsewhere, adding that he had also “mentored men who are excelling in different fields of human endeavour.”

On their economic plans, Shettima said an “important tool of growing the economy”, is “diversification of sources of our income”.

Read Also: We must stand, mobilise, pray for Tinubu to win 2023 presidency —
“Ours is a great nation in chains; chained by ineptitude, chained by corruption and chained by incapacity.

“This is why it is absolutely important to grow the economy,” he said while responding to a question by the first female Senior Advocate of Nigeria (SAN), Chief ‘Folake Solanke.

Urging Nigerians to disregard ethnicity and religion, Shettima added: “I urge you all to align yourselves with the aspirations of the APC candidate fundamentally because of his competence. He has an established track record of performance.

“Lagos is now a tourist destination of choice in the West African subregion. Lagos produces 75 per cent of the tax collections in this country and we are going to recreate the Lagos experience all over the country.

“I urge you, I beseech you, I call on you to use your rational sense of judgment, make an informed judgment on who you are going to vote for in the next dispensation.

“It is absolutely essential that you vote for competence, capacity, and for a leader who can lead us to the promised land. Yes, Asiwaju Bola Ahmed Tinubu is the man to beat.”

Atiku, referencing the country’s challenges and “negative developments in our history,” said what was important is how to tackle the problems.

He identified five key areas that require action.

Atiku said: “There are five key areas that any leadership – forget about the party – any leadership from whichever political party must confront .

“The unity of our country is very fundamental. How do we achieve the unity of our country? It’s by making sure that we give every part of this country a sense of belonging.”

He explained that despite its overwhelming victory in 1999, the PDP formed a national government inclusive of other political party members, adding that this boosted national unity.

“Then, the issue of the economy and security came in. Because we had a consensus, we had no problem dealing with the sad security challenges.

“Therefore, I believe we have had experience and it is that experience that has helped that must be brought back.

“It is only when you have this sense of belonging that we will be able to deal with the issue of security. When you deal with the issue of security, then you will now come to the economy.

“My five points that are illuminated are all interrelated from unity to security, economy to the devolution of power.”

He emphasised his belief in restructuring via power devolution.

“More resources, more power to the states,” he added.

On how to stabilise the economy, Atiku said the “multiple exchange rate,” must be “abolished.”

The PDP flag bearer said since the return of democracy in 1998/99, Nigeria has never found itself in such a critical point in its history.

“Today, we have had all the negative indices. Today, we are all disunited in the nation. We have never experienced this level of poverty.

“We have never experienced this state of insecurity. We have never experienced this level of unemployment. We have recognised all these negative development in our history.

“This is where history and experience beckon on us to make sure that we don’t get it wrong at this point otherwise if we get it wrong. I don’t know when we will ever get it right.

“I have been involved in the struggle to return this country to democracy in the time of military days.

“In fact, I can even say I was even lucky to be alive because so many of my contemporaries were killed in the struggle, but by the grace of God I have survived till this point in time,” he said.

Obi restates consumption-to-production promise
Obi lamented the numerous problems facing the country.

He restated that the “only way” to stabilise the naira is for the Nigerian economy to “move from consumption to production.”

He added: “Nigeria needs an urgent transition from being a highly insecure country to a secure country, from a disunited country to a united country, from corruption to a successful country, from a country of lawlessness to a country of law and order.

“But in all these, it is important to look at where we are today for people to understand the gravity of the journey we are going to take if we are going to transit. Where are we today?”

In his view, Nigeria had qualified to be a failed state.

According to him, 80 per cent of the country’s crude was stolen.

“Even our most important source of foreign exchange revenue, oil, is today 80 per cent stolen. That shows how bad it is.

“We are the only country apart from Venezuela (we know their own is because of sanctions) that is not meeting up with its OPEC quota.

“And you wouldn’t believe the quantity that is missing. In July, our total average quota was 1.83 million barrels a day. That means that in July, we lost 77,000 barrels per day.

“If you multiple that by 20, in 31 days it will give you 22.223million barrels of oil that we lost. This is a country that needs dollars.

“If you sell the quantity of the oil that we lost in July alone at the average of $110, it will give you $2.45bilion, meaning by our exchange rate of N550, we lost N1. 344trillion .

“That is your country; that is what we lost in one month because of stealing. It is important that we know this. “Number two item to show that we are a failed state is that you are no longer in control of our economy.

“We have an economy where over 100 million people live in poverty, our unemployment rate is one of the worst in the world because we have a combined unemployment of 50 per cent.

“Out of 200 million Nigerians, 60 per cent is supposed to be working, so we are supposed to have more than 120 million persons working but today Nigerians that are working are under 50 million, so 70 million plus of Nigerians are not working, are not productive.

“When you compare this to your productivity, you will see how low it is. But what is even worse is that we are in a total physical mess because of all these.

“Between January this year and April, the total revenue of Federal Government of Nigeria is N1.6trillion

“The expenditure is N4.7trillion. If you subtract this, we have a deficit of N3.1trillion. That shows almost 200 percent is the deficit and this is the crisis we face.”

He blamed the situation on bad leadership.

“How did we come here? It is because of leadership failure over the years.

“To come out of this, we need to have a visionary, articulated and competent leadership to start turning things around,” he said.

Umeadi urged the electorate to exercise due voter diligence in the 2023 general electioneering process as a way to strengthen Nigeria’s democratic transitions.

Adebayo said one of the ways to make the naira stable is to abolish a dual system where “one person who has a friend in the Central Bank can make $30 million dollars by buying at the official rate and selling to the hard-working people” at an increased rate.

He said: “Importers and supermarket owners should not be making more money than manufacturers and farmers.”

He added that the “convergence of official and unofficial rates” must be allowed.

Among the guests at the opening were Edo State Governor Godwin Obaseki; his Plateau State counterpart Simon Lalong; a spokesman for Atiku’s campaign organisation, Senator Dino Melaye; AIT founder, Raymond Dokpesi, Obi campaign director-general Doyin Okupe, among others.

Adichie advocates corruption-free justice system
Award-winning novelist Adichie advocated a fair, corruption-free judicial system, urging the NBA to leverage technology in judicial process and the administration of justice.

She lamented that Nigerians do not seem to have enough leaders to look up to in the current system.

In her view, young citizens were finding it difficult to have heroes for mentorship.

“We are starved of heroes. Our young people do not find people to look up to anymore,” Adichie said.

The keynote speaker argued that it was important for everyone to speak out against injustice and tyranny even if they were called troublemakers.

She said: “A bold transition must embrace audacity and innovation. They have called me troublesome. Although, it is never enjoyable to be called troublesome.

“I never set out to provoke for its sake. But I refuse to silence myself for the fear of what I might inadvertently provoke. It has always been important to me to say what I believe, to call out injustice.

“Federal and state security dragging journalists to prison is tyranny. A journalist ill-treating his domestic staff is tyranny. The rape of young boys and girls is also tyranny.

“It is tyranny when state governments do not pay pensioners until they slump and die as broken people.

“The physical harassment of lawyers and some judges is tyranny. The use of the law by some people to oppress the poor people is tyranny.”

Adiche said Nigerians must be fair in their criticisms before peace can thrive, adding that they should become responsible before holding the leaders responsible.

She said: “As long as we refuse to untangle the knot of injustice, peace cannot thrive. If we don’t talk about it, we fail to hold leaders accountable and we turn what should be transparent systems into ugly opaque cults.

“My experience made me think there’s something dead in us, in our society; a death of self-awareness and ability for self-criticism.

“There’s a need for resurrection. We cannot avoid self-criticism but criticise the government. We cannot hide our own institutional failure while demanding transparency from the government.”

While commending the NBA for traditionally defending citizens’ rights, she lamented a decline in professionalism.

She said: “Nigerians are disillusioned because they know of the decline of professionalism in some sections of the legal profession.

“As the NBA continues to fight the abuse of power, it must also look inward not to be corrupted.

“One way is to simplify the legal procedure. We deny justice when we delay justice. Technology should also be used. It is time for the full use of technology in the administration of justice.

“Today, the word ‘disruptive’ has taken on a more positive and perhaps even a more trendy connotation. It now tends to mean innovative and original especially concerning technology and access to information. Troublesome and innovative.

“They might seem opposed to each other but I will argue that these two understandings of disruptive hang their pride on the NBA.

“Many people who have abused their positions of power in Nigeria would describe the NBA as troublesome.”

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2027 Politics: Dipo Bamisaye Speaks on Tinubu, Oyebanji, Says Ekiti North Needs Aggressive Development

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Engineer Dipo Bamisaye, a Fellow of the Nigerian Society of Engineers and a seasoned infrastructure expert, has declared his intention to represent Ekiti North Senatorial District in the National Assembly.

In this exclusive interview with Publisher of Newsthumb, Sotayo Olayinka, Engr. Dipo Bamisaye speaks on his political journey, relationship with Governor Biodun Oyebanji and Senate Leader Opeyemi Bamidele, as well as his plans for infrastructure, youth empowerment, agriculture, and security in Ekiti North. He also shares his views on President Bola Ahmed Tinubu’s Renewed Hope Agenda and the future of Nigeria.

Enjoy the interview…

Good afternoon, sir. Can we meet you?

I am Engineer Dipo Bamisaye, a native of Ijesha-Isu in Ikole Local Government Area of Ekiti State. I have been actively involved in politics for about 15 to 18 years.

This is the third time I will be showing interest in representing Ekiti North Senatorial District. I contested in 2018 and also indicated interest in 2022/2023, but at the time, former Governor Kayode Fayemi advised me to step down for Senator Adetunmbi.

I have been a loyal supporter of Asiwaju Bola Ahmed Tinubu since the days of the Alliance for Democracy while I was working with ExxonMobil. Today, I am a Fellow of the Nigerian Society of Engineers and a Fellow of the Nigerian Institution of Civil Engineers.

I have spent over 30 years in the engineering and infrastructure sector, working across virtually every state in Nigeria. I have handled projects in the North, South, South-East, and South-South, especially in rural infrastructure development.

I have also worked with the World Bank Group as a consultant on the FADAMA agricultural programme. Academically and professionally, I have trained in several countries. I studied bridge construction at the University of Florida in the United States, highway transportation in Ohio, mechanized agriculture in Gauteng, South Africa, and water treatment in China and Germany.

All these experiences have prepared me for leadership and service. My desire to contest for the Senate is to complement the efforts of President Bola Ahmed Tinubu and bring development closer to the people of Ekiti North.

Beyond politics, I run the BO Charity Trust, through which I have supported communities for over 12 years. Even without holding public office, I have facilitated boreholes, transformers, and other community projects because of my passion for helping the people.

“My Love for the People Inspired Me to Join Politics”

As a technocrat and successful businessman, what attracted you to politics?

What attracted me to politics is my passion for service. People around me kept saying, “If you can do all these things without holding office, imagine what you could achieve with a political platform.”

Over the years, I have supported students with JAMB forms and educational assistance. I have also worked closely with political leaders like the Senate Leader, Senator Michael Opeyemi Bamidele, who remains my mentor. Through him, I learned a lot about leadership and governance.

If given the opportunity to serve in the Senate, I will work closely with both the President and the Governor to deliver more dividends of democracy to our people.

“Governor Oyebanji and I Share a Cordial Relationship”

What can you tell us about your relationship with Governor Biodun Oyebanji?

Governor Biodun Abayomi Oyebanji is someone I hold in very high regard. We have a cordial relationship, and we attended the same institution, Ondo State University, now Ekiti State University, Ado-Ekiti.

I admire his humility and leadership style. During the build-up to his first-term election, when many political actors were still undecided, members of the university alumni association rallied support for him. At the time, I was President of the Alumni Association and also a member of the university council.

We strongly believed in his capacity and worked tirelessly for his emergence. I also discussed extensively with Senate Leader Opeyemi Bamidele, who supported the project as well.

To further demonstrate our support, I led a group of alumni members who contributed funds to purchase his nomination form — not because he could not afford it, but because we believed in his vision for Ekiti State.

Today, we remain proud of his achievements and hopeful for his second term.

“Ekiti North Needs More Aggressive Development”

There is already an incumbent senator in Ekiti North. What new ideas are you bringing?

The incumbent senator is our brother, and this is not about personalities. However, we believe Ekiti North can do much better. Representation goes beyond lawmaking; it also involves lobbying for development projects and attracting federal presence.

Ekiti North is in dire need of infrastructure development. Many of our roads are in terrible condition. If elected, I will actively engage federal ministries and agencies to ensure projects are facilitated to our communities.

Education is another key area. Many students still travel long distances to write CBT examinations. We intend to facilitate CBT centres across communities in Ekiti North.

Agriculture is also very important because farming remains the backbone of Ekiti’s economy. We plan to introduce modern mechanized farming, support young farmers with equipment, and encourage agro-processing and light manufacturing. For instance, products like cassava and maize can be processed locally into finished products, creating jobs and boosting the economy.

Security is equally critical. Because of our proximity to northern routes, Ekiti faces security threats. We will support efforts toward improved policing and stronger security collaboration to protect our communities.

“Youth Empowerment Will Be a Major Priority”

What is your agenda for youth employment?

Youth empowerment will be one of our top priorities. Agriculture alone can employ thousands of young people if properly modernized.

Government cannot employ everyone, so our focus will be on capacity building, entrepreneurship, and innovation. We plan to introduce “Train the Trainers” programmes, especially in technology and vocational skills.

From my experience working with the World Bank Group, I understand the templates that can help young people become self-reliant and employers of labour within a short period.

“We Are Mobilising Massive Support for President Tinubu”

What role are you playing in support of President Tinubu’s administration?

We are already mobilising support for President Bola Ahmed Tinubu across the country. I am among those coordinating the “Renewed Hope Engineers,” a platform created to highlight the achievements of the President in infrastructure and development.

By June, we plan to launch activities across the 36 states and the FCT to showcase projects such as rail development, road construction, and other engineering achievements under the administration.

As an engineer, I can confidently say the President is laying foundations that will stand the test of time.

“Student Loan Scheme Is One of Tinubu’s Biggest Achievements”

What achievements of President Tinubu stand out to you most?

One major achievement is the Student Loan Scheme. Many young Nigerians previously lacked access to quality education because of financial constraints. This initiative gives students greater opportunities and independence.

I also believe it will reduce insecurity because many youths previously became vulnerable during elections due to financial hardship.

Another major achievement is infrastructure development, especially road construction. As an engineer, I understand the importance of durable concrete pavement technology being used on major roads today. Though projects may take time, the long-term benefits will be enormous for future generations.

“I Believe in Free and Fair Primaries”

What is your position on allegations of candidate imposition ahead of the primaries?

Governor Oyebanji has made it clear that he is not interested in imposing candidates. His position is simple — if consensus is possible, fine; if not, there should be free and fair primaries.

I strongly believe in democracy and transparent elections. President Tinubu himself has always encouraged fair competition within the party.

“Policies That Benefit Nigerians Deserve Support”

Some people accuse lawmakers of being rubber stamps. What is your view?

If a policy is designed for the benefit of Nigerians, I see nothing wrong in supporting it.

For example, the removal of fuel subsidy was necessary because the system was riddled with corruption. The Student Loan Bill is another important initiative that deserves support because it helps indigent students access education.

If supporting good policies is called “rubber stamping,” then so be it. What matters most is the welfare of Nigerians.

“Nigeria Needs Stronger Community and State Policing”

Lastly, what is your wish for President Tinubu and Nigeria?

My prayer is that God grants President Tinubu wisdom, strength, and good health to continue leading Nigeria.

I also strongly support the idea of state policing and community policing. Security challenges can be addressed more effectively when local communities are actively involved in protecting themselves.

With the right leadership, commitment, and cooperation, I believe Nigeria can achieve greater progress and stability.

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NRC Boosts Workforce Development with Graduation of 86 Technical Trainees

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Dr Kayode Opeifa, presenting certificate to the best student Class of 2025, Taiwo Olamide

No fewer than 86 trainees have graduated from the Railway Technical Institute (RTI), Ebute-Metta, Lagos, after completing their technical and vocational training under the collaborative skills acquisition programme between the Nigerian Railway Corporation (NRC) and the National Directorate of Employment (NDE).

Describing the ceremony as a reflection of the Corporation’s strong commitment to youth empowerment, workforce development, and nation-building, the NRC Managing Director assured the graduands of employment opportunities. He noted that they had received intensive hands-on training required to thrive in today’s competitive labour market.

He highlighted the institute’s rich legacy, stating that since its establishment in 1924, it has remained a critical hub for developing technical manpower in Nigeria. For over a century, the RTI has trained artisans, technicians, and skilled personnel in railway operations, mechanical systems, and related technical fields.

“Today, we celebrate 86 graduands who have successfully completed rigorous training in various disciplines, including electrical installation and maintenance, electronics engineering, welding and fabrication, refrigeration and air-conditioning, and automobile mechanics,” he said.
“Other areas include carpentry and joinery, computer engineering and ICT, fashion design and tailoring, painting and decoration, as well as printing technology.”

The Managing Director reaffirmed the Corporation’s commitment to repositioning the institute into a modern, efficient, and commercially viable rail training centre capable of driving national economic integration, industrial growth, and logistics efficiency.

“We are working with relevant regulatory authorities and stakeholders to reposition the institute through curriculum enhancement, infrastructure upgrades, faculty development, and strategic partnerships with both local and international institutions,” he added.
“Efforts are also ongoing to align our training with global trends in railway technology, energy transition, and transport innovation.”

He urged the graduands to uphold excellence, professionalism, innovation, and integrity as ambassadors of both the institute and the NRC.

In her remarks, the Senior Special Assistant to the President on Technical, Vocational, and Entrepreneurship Education, Dr Abiola Arogundade—represented by the Head of Strategy, Dr Abiola Isikalu—commended the NRC for revitalising the institute. She noted that technical and vocational education remains vital for youth engagement in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.

Also speaking, the Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG & EV), Barrister Ismaeel Ahmed, congratulated the NRC and RTI on the successful graduation of the 2024 and 2025 sets. He reaffirmed the initiative’s commitment to partnering with the NRC in promoting sustainable energy solutions.

“Our collaboration will continue to focus on advancing natural gas adoption, reducing fuel costs, and promoting cleaner energy, all of which require a highly skilled technical workforce,” he said.

The Vice-Chancellor of Trinity University, Yaba, Professor Clement Olusegun Kolawole, also expressed the institution’s pride in partnering with the NRC and RTI in manpower development and logistics advancement.

Earlier, the Principal of RTI, Mr Kelechi Raphael Nosike, described the graduation as a milestone event for trainees who successfully completed their three-year craft programmes across various disciplines. He noted that the training aligns with the Federal Government’s Renewed Hope Agenda, which prioritises youth empowerment through technical and vocational education.

He also appreciated the NRC management for its commitment to upgrading the institute into a higher institution of learning.

The highlight of the event was the presentation of certificates of excellence to outstanding students, including Master Fadayomi Olamide Andrew, Best Graduating Student (Class of 2024), and Master Taiwo Ayomide, Best Graduating Student (Class of 2025).

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Dangote Denies Fallout with Elumelu, Debunks Financial Support Claims

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The Dangote Group has dismissed as false and malicious claims of a rift between its President, Aliko Dangote, and the Chairman of Heirs Holdings, Tony Elumelu, and also rejected allegations that he (Dangote) solicited support for financing his refinery project.

In a statement issued on Sunday, the group described as “entirely baseless” a publication stating that Dangote had revealed why he distanced himself from Elumelu, stressing that neither the businessman nor the organisation made such remarks.

The statement, signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, said the report misrepresented both personal and corporate positions and added that there was no disagreement between the two prominent business leaders.

“The Dangote Group has become aware of a publication titled ‘Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu’, which is false, malicious, and baseless. At no time did the President or the Group make such statements or express such sentiments,” the statement read in part.

The company further dismissed claims that the multi-billion-dollar Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends, describing such assertions as inaccurate and a deliberate misrepresentation of facts.

According to the group, Dangote does not fund projects through informal personal loans, noting that any such claims should be backed by verifiable evidence.

“As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in lending arrangements of that nature. Any individual making such claims should provide verifiable evidence to substantiate them,” the statement added.

The group also clarified that there was no strain in the relationship between Dangote and Elumelu, maintaining that both men continue to enjoy a longstanding and cordial relationship despite the claims circulating in the report.

The clarification follows the circulation of a widely shared online post which alleged that Dangote fell out with Elumelu after a failed financial assistance request during the construction of the refinery.

In the post, attributed to Dangote but now disowned by the company, the author claimed that in 2021, when the refinery project was about half-completed, he ran out of funds and approached several business associates for support, including Femi Otedola, Abdulsamad Rabiu, Mike Adenuga, and Elumelu.

The post further alleged that Elumelu promised $20m but later became unreachable, while other associates reportedly raised $500m to support the project, with Otedola said to have contributed $300m.

However, the Dangote Group said such claims were fabricated and should not be attributed to its president, reiterating that the financing narrative presented in the post was false.

Beyond the disputed publication, the company raised concerns over what it described as a growing trend of fabricated statements and the unauthorised use of Dangote’s identity in digitally manipulated content.

It warned that the misuse of his name, likeness, and image in artificial intelligence-generated advertisements and other misleading materials poses reputational risks and could amount to fraud.

“Furthermore, the group notes with concern a rising pattern of fabricated statements and the unauthorised use of Aliko Dangote’s name, likeness, and image in AI-generated advertisements and other misleading content. These actions amount to reputational harm and potential fraud,” the statement said.

The company cautioned individuals, organisations, and platforms involved in creating or disseminating false information to desist immediately, warning that it would not hesitate to pursue legal action where necessary to protect its reputation and that of its leadership.

The Dangote Group reaffirmed its commitment to maintaining high standards of integrity while continuing its industrial and economic contributions across Africa, particularly in advancing self-sufficiency and sustainable development.

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