Billionaire Femi Otedola has praised Aliko Dangote for the launch of his $20 billion refinery in Lagos.
Otedola hailed the 650,000 barrels per day facility as a game-changer for Nigeria’s fuel industry.
In a social media post, Otedola declared that Nigeria’s days of relying on foreign powers for fuel are over. He said the refinery, now producing aviation fuel, diesel, and petrol, marks the end of economic dependence that has held the nation back.
“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.”
He advised depot owners to consider dismantling their facilities, predicting a similar fate for fuel imports as befell cement imports.
“I am reminded of the time you revolutionized 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.
Otedola concluded by congratulating Dangote and his team, calling the refinery a victory for all Nigerians who dare to dream.
