Billionaire businessman Femi Otedola has advised depot owners to dismantle them and sell as scraps while the market is still high, pointing out that the days of the relevance of local depots, which have traditionally relied on fuel imports to meet domestic demand, were numbered with the commencement of petrol production by the Dangote Refinery.
This is just as he lauded, Aliko Dangote for his role in advancing Nigeria’s economic independence through the successful commencement of operations at the refinery.
Otedola, in a post shared on his X account, highlighted Dangote’s achievements and their significance for the country’s energy sector.
“I am reminded of the time you revolutionized the cement industry in Nigeria. Ships that once brought in cement turned into rusting relics, scraps of a bygone era. Now, with your refinery in full swing, I foresee a similar fate for fuel imports.
“The depot owners should take heed—it’s time to dismantle those depots and sell them as scraps while the market is still high. The world has changed, and those who do not adapt will be left behind,” he stated.
Continuing, Otedola said: “You have not just built a refinery; you have liberated us from the chains of economic dependence that have held this nation back for far too long. The days of bowing to foreign powers for our fuel needs are over, thanks to your vision and determination.
“You have dealt a death blow to the so-called local cabals who have fattened themselves for years, feeding off our nation’s economic slavery. These cabals, who have grown rich by keeping Nigeria in a perpetual state of dependence, must now face the reality that their era of easy gains is coming to an end…”
He recalled when he and Dangote formed the Blue Star Consortium, aiming to acquire stakes in the Kaduna and Port Harcourt refineries, noting that despite setbacks and the cancellation of their stakes by the government at the time, Dangote remained relentless in his commitment to their vision of transforming Nigeria’s energy landscape.
“You never gave up on the dream we shared,” Otedola said, adding, “Aliko, you have my deepest admiration and respect.”
He pointed out that those who do not adapt to the new realities of Nigeria’s energy sector may struggle to survive.
