25 years dream fulfilled, Otedola hails Dangote on petrol production
Billionaire business mogul Femi Otedola has lauded his friend and business partner, Aliko Dangote, for the full-scale operation of his refinery with a capacity of 650,000 barrels per day.
Otedola congratulated Dangote on Tuesday on his X handle, shortly after Dangote spoke in a broadcast to unveil the first sample of Premium Motor Spirit, commonly known as petrol.
According to the billionaire, the refinery idea was conceived 25 years ago to transform the country’s energy landscape and liberate Nigerians from the economic dependence that has been holding the country back.
“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.
“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,” he said.
He also noted the significant blow Dangote has dealt to “local cabals” who, he claimed, have been profiting from the nation’s economic dependence.
“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.
“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 also alluded to how the President of the Dangote Group 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.”
He further appreciated President Bola Tinubu for his support towards the realisation of what he described as a “monumental project”.
The PUNCH reported in July that Otedola explained why Nigerians should support Dangote by creating an environment that enables businesses to thrive.
He argued that Dangote’s contributions, which extend beyond industrial facilities to critical infrastructure, must be recognised and supported by all means.
Otedola, who rose in defence of his friend and business ally, described Dangote as a “titan that God created specially for mankind”.
