September 03, (THEWILL) – Nigerian billionaire, Femi Otedola, has extolled Aliko Dangote, President of Dangote Group, on the actualisation of his $20 billion refinery, saying “the days of bowing to foreign powers for our fuel needs are over”.
The remark follows the unveiling of petrol products by the Dangote Refinery on Tuesday, in Lagos. Speaking with newsmen, Dangote said petrol from the 650,000bpd oil refinery will hit filling stations in the next 48 hours as modalities with the Nigerian National Petroleum Company (NNPC) Limited are formalised.
The newly operational Dangote Refinery has delivered a “death blow” to the entrenched fuel import cabals that have long profited from Nigeria’s dependence on foreign oil.
In a letter to Dangote posted on his official X handle, Otedola praised the refinery’s historic achievement, heralding it as a transformative moment for the nation’s energy independence and a decisive end to the economic stranglehold that has kept Nigeria reliant on imported fuel for decades.
The letter reads:
My Dear Brother Aliko,
First and foremost, I want to extend my heartfelt congratulations to President Bola Tinubu for his unwavering support and belief in actualising this monumental achievement under his administration. 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.
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% for me and 51% 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.
While the Kaduna and Port Harcourt refineries have remained dormant, their promise unfulfilled despite billions of dollars spent on so-called turn-around 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.
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.
I am reminded of the time you revolutionised 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.
When I ventured into the depot business with Zenon, it was in response to the inefficiencies of the NNPC. Zenon pioneered the diesel business in Nigeria and quickly became the largest in the country, filling the gaps left by our inefficient system. But today, your refinery stands as a beacon of what is possible when one has the audacity to dream and the tenacity to see it through.
Aliko, you have my deepest admiration and respect. Congratulations to you and the entire board, management and staff of Dangote Refinery on this 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.
With profound respect and warmest regards,
F. Ote$
