Femi Otedola, a notable Nigerian businessman and close associate of Aliko Dangote, has urged oil importers to take decisive steps in response to the groundbreaking achievement marked by the Dangote Refinery. In a heartfelt letter addressed to Aliko Dangote, Otedola congratulated him on the refinery’s successful shipment of fuel, a significant milestone for a project that has been in the making for 25 years.
“This day belongs to every Nigerian who has dared to dream of a better future,” Otedola wrote, commending Dangote for his steadfast commitment and determination.
“You have not just built a refinery; you have freed us from the economic dependence that has hindered this nation for far too long,” he continued.
Otedola reflected on their initial venture with the Blue Star Consortium, which sought to acquire stakes in Nigeria’s Kaduna and Port Harcourt refineries. Despite their ambition and plans, their efforts were thwarted by government actions at the time. “We were prepared to revolutionize the sector, but circumstances didn’t align with our vision,” he recalled.
“The government of the day, in what I can only describe as an utterly objectionable act, nullified our stakes and obstructed our plans. However, you, as always, remained undeterred,” Otedola noted, highlighting Dangote’s resilience.
He emphasized that the Dangote Refinery symbolizes a monumental shift in Nigeria’s journey towards economic and energy self-sufficiency.
“The days of depending on foreign powers for our fuel needs are over,” Otedola declared. He further stated that Dangote’s achievement has “struck a severe blow to the local cabals who have thrived for years on Nigeria’s economic vulnerabilities.
“Drawing a parallel to his own experiences with the Zenon Oil depot business, Otedola suggested that current depot owners should reconsider their positions given the market’s transformation brought about by the Dangote Refinery.
“Depot owners should take note, it’s time to dismantle those depots and sell them off as scrap while the market conditions are still favorable,” he advised.“The world has evolved, and those who fail to adapt will inevitably be left behind.”
Otedola’s remarks underline the far-reaching impact of the Dangote Refinery, not only in enhancing Nigeria’s energy sector but also in challenging entrenched economic practices and norms.
“You have proved all the doubters wrong, silenced the critics, and defied those who never wanted this project to succeed,” he wrote, expressing his deep admiration for Dangote’s persistence.
As Nigeria celebrates this monumental achievement, the industry is keenly observing the potential shifts in market dynamics and economic policies that may follow.
“This victory is not just yours but belongs to every Nigerian who dreams big,” Otedola concluded.
