Billionaire businessman, Femi Otedola, recently praised his friend and business associate, Aliko Dangote, for the successful launch of the Dangote Refinery, which boasts a capacity of 650,000 barrels per day.
Otedola took to his X handle on Tuesday to congratulate Dangote, shortly after the latter unveiled the first sample of Premium Motor Spirit commonly referred to as petrol, during a broadcast.
Reflecting on their shared journey, Otedola recalled the inception of the refinery idea 25 years ago, which aimed to reshape Nigeria’s energy sector and free the nation from its economic reliance.
“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,” Otedola reminisced. “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.”
He continued by lamenting how their initial plan was thwarted by the government at the time, describing the decision to cancel their stakes as “utterly obnoxious.”
Despite this setback, Otedola lauded Dangote’s unwavering determination, which ultimately led to the realization of their vision.
“You never gave up on the dream we shared,” Otedola stated. “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 highlighted the broader implications of Dangote’s accomplishment, particularly in ending Nigeria’s dependence on foreign fuel.
He emphasized how the refinery’s success has struck a blow against local interests who have long profited from the country’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,” Otedola said. “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 contrasted the dormant state of the Kaduna and Port Harcourt refineries with Dangote’s achievement, noting how billions of dollars spent on their maintenance had failed to deliver results.
“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.
Otedola also drew parallels between the transformation of Nigeria’s cement industry, led by Dangote, and the expected impact of the refinery on the fuel import sector. He urged depot owners to adapt to the changing landscape or risk being left behind.
“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,” Otedola remarked. “Now, with your refinery in full swing, I foresee a similar fate for fuel imports.”
He concluded by expressing gratitude to President Bola Tinubu for his support of this monumental project and emphasized the need for continued backing of Dangote’s contributions to Nigeria’s industrial and infrastructural development.
In July, Otedola had defended Dangote’s legacy, urging Nigerians to support his initiatives to ensure that the business environment remains conducive for growth.
He described Dangote as a “titan that God created specially for mankind,” whose efforts deserve recognition and support.
