Billionaire businessman Femi Otedola has praised Africa’s richest man, Aliko Dangote, for the announcement of the first fuel shipment from the Dangote Refinery, declaring it a decisive blow to local cabals that have long profited from Nigeria’s economic struggles.
Dangote recently revealed that the refinery will release its first batch of petrol into the market within the next 48 hours, a milestone that Otedola believes marks the end of an era of economic dependence.
In a congratulatory letter to Dangote, Otedola lauded the refinery as more than just an industrial achievement, but a liberation of the nation from years of economic servitude.
“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,” he stated.
Otedola highlighted how these cabals had thrived by maintaining Nigeria’s dependency on external sources for fuel, but now, with the Dangote Refinery operational, they must confront the end of their era of easy gains.
He also extended heartfelt congratulations to President Bola Tinubu for his unwavering support, which was crucial in realizing this monumental achievement.
“This day belongs to every Nigerian who has dared to dream of a better future. Congratulations to our great nation—today, we all stand a little taller,” Otedola added.
Reflecting on their shared history, Otedola recalled their efforts 25 years ago when they attempted to transform Nigeria’s energy landscape through the Blue Star Consortium, which aimed to acquire stakes in the Kaduna and Port Harcourt refineries.
He said their vision was thwarted by the government of the day and that despite this setback, Dangote never abandoned the dream and continued to pursue it with unwavering determination.
“Now, 25 years later, here we stand on the precipice of history, with the first fuel shipment from the Dangote Refinery—a feat that is nothing short of miraculous,” Otedola remarked.
He noted that while the Kaduna and Port Harcourt refineries have remained dormant despite significant investments, Dangote’s refinery has defied skeptics and achieved what many deemed impossible.
Otedola also compared Dangote’s success in the refinery sector to his earlier revolution in Nigeria’s cement industry, predicting a similar transformation in the fuel market.
“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 warned.
Otedola expressed his deepest admiration and respect for Dangote, congratulating him and the entire board, management, and staff of Dangote Refinery on their monumental achievement.
“This is not just a victory for you but for every Nigerian who dares to dream. May this be just the beginning of even greater things to come,” he stated.
