Dangote Refinery Has Freed Nigeria From Oil Cabals, Economic Slavery – Femi Otedola

Billionaire businessman Femi Otedola praised his friend and business partner, Aliko Dangote, for the successful launch of his 650,000 barrels-per-day refinery.

Otedola congratulated Dangote on social media shortly after the first sample of petrol was unveiled from the refinery.

He stated that the idea for the refinery was born 25 years ago, aiming to transform Nigeria’s energy sector and free the country from economic dependence.

Reflecting on their past efforts, Otedola recounted their attempt to acquire stakes in the Kaduna and Port Harcourt refineries through the Blue Star Consortium, which was thwarted by the government.

Despite this setback, Dangote pushed forward with his vision, and now, 25 years later, the Refinery is operational, marking a historic moment for Nigeria.

He said, “Aliko, it feels like just yesterday, but it has been 25 long years since we first set our sights on transforming Nigeria’s energy landscape. I remember vividly when we set up the Blue Star Consortium to acquire stakes in the Kaduna and Port Harcourt refineries—20 per cent for me and 51 per cent for you.

“We were ready to change the game, but fate had other plans. The government of the day, in an act I can only describe as utterly obnoxious, cancelled our stakes and thwarted our vision. But, as always, you refused to be deterred. You never gave up on the dream we shared. You carried the torch forward, igniting a spark that has today become a roaring flame.

“And 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 commended Dangote not only for building the refinery but for ending Nigeria’s reliance on foreign fuel and dealing a severe blow to local groups who profited from the country’s dependency.

The businessman highlighted how these groups must now face the reality of their declining influence.

He said, “You have dealt a death blow to the so-called local cabals who have fattened themselves for years, feeding off our nation’s economic dependency.

These cabals, who have grown rich by keeping Nigeria in a perpetual state of reliance, must now face the reality that their era of easy gains is coming to an end.”

He also noted that, while other refineries in the country remain inactive despite significant investments, Dangote has achieved what many thought was impossible.

Otedola compared this accomplishment to how Dangote revolutionized the cement industry, envisioning a similar transformation for fuel imports.

“While the Kaduna and Port Harcourt refineries have remained dormant, their promise unfulfilled despite billions of dollars spent on so-called turnaround maintenance, you have achieved what many said was impossible.

“You have beaten all the sceptics, silenced the naysayers, and proved wrong those who doubted your resolve, even those who never wanted this project to succeed,” he added.

He urged depot owners to adapt to the changes, suggesting they dismantle their depots while they still have value.

He also alluded to how Dangote revolutionised the cement industry in the country, stressing that he envisages a similar transformation with the refinery.

“I am reminded of the time you revolutionised the cement industry in Nigeria. Ships that once brought in cement have 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 scrap while the market is still high. The world has changed, and those who do not adapt will be left behind.”

Otedola also expressed gratitude to President Bola Tinubu for his support in making this “monumental project” a reality.

KanyiDaily recalls that Dangote Refinery began distributing its first batch of Premium Motor Spirit (PMS), known as petrol, from its 650,000 barrels-per-day facility on Tuesday.