NaijNaira
Femi Otedola has publicly thrown his weight behind Aliko Dangote in the ongoing clash with the Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN — www.naijnaira.com reports.
In his words, Dangote’s refinery represents a “historic leap for Nigeria’s energy independence and economic future.”
According to Premium Times, Otedola, who founded DAPPMAN in 2002, criticised the group for clinging to obsolete fuel import systems that no longer serve the country.
He applauded President Bola Tinubu for full deregulation of the downstream sector, calling it the end of subsidy fraud, smuggling, and rent-seeking.
Otedola argued that depots were once necessary but have now become liabilities with over 4 million metric tons of idle capacity across Nigeria.
He explained that filling stations, not depots, create real jobs, stressing that “a depot might employ five people, while one station can feed dozens of households.”
Otedola dismissed DAPPMAN’s demand for a ₦1.5 trillion subsidy from Dangote Refinery, insisting such costs would only punish consumers.
He urged members to pivot into retail outlets or consider buying struggling refineries rather than resist change.
“Aliko’s refinery is not the problem, it is the solution,” Otedola concluded.
