Otedola hails Dangote Refinery as game-changer, credits Tinubu for fuel deregulation

By Olakunle Oke

Billionaire businessman Femi Otedola has described the Dangote Refinery as a historic leap for Nigeria’s energy independence and a decisive transformation of the country’s petroleum sector.

In a statement, Otedola congratulated Aliko Dangote on the refinery’s success since operations commenced, saying it represents a landmark achievement for domestic fuel production.

He credited President Bola Ahmed Tinubu for executing full downstream petroleum deregulation, describing the move as a singular act that “has broken the grip of entrenched interests and ushered in a new era of transparency, healthy competition, and customer-centric service delivery.”

Otedola emphasised that the reform marks a decisive break from a sector long plagued by rent-seeking, subsidy fraud, product diversion, and smuggling, laying the foundation for a more efficient and accountable energy market.

He warned that entrenched cabals continue to attempt to block reform, but stressed that history has shown change cannot be stopped.

Otedola recalled founding the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) in 2002 to challenge dominant marketers and provide independent depot owners a fair platform.

He detailed how the original depot model, designed to fill supply gaps, is now obsolete.

Otedola highlighted the broader impact on logistics, noting that Dangote’s operations have helped eliminate gridlock around Ibafon, Tincan, and Apapa.

He also praised the deployment of 8,000 new CNG-powered trucks for nationwide distribution, which reduce pollution and improve efficiency compared with older trucks.

Otedola added: “More than just producing fuel, Aliko has elevated the entire logistics chain. When I say the game has changed, I speak from deep experience.”