Femi Otedola: “Congratulations to my dear brother, Aliko Dangote, on the success achieved so far since the Dangote Refinery commenced operations. It is a historic leap for Nigeria’s energy independence and economic future.
“But more importantly, credit must go to President Bola Ahmed Tinubu for doing what no other leader before him had the political will to execute, the full deregulation of the downstream petroleum sector. This singular act has broken the grip of entrenched interests and ushered in a new era of transparency, healthy competition, and customer-centric service delivery. In a sector long plagued by rent-seeking, subsidy fraud, product diversion, and smuggling, this reform marks a decisive break from the past and lays the foundation for a more efficient and accountable energy market.
“Yet despite this progress, there are still voices clinging to the old ways. Voices determined to resist change, even when it’s clear the tide has turned.
“I’ve followed recent commentary around fuel supply issues and feel compelled to provide some perspective, especially as it relates to the future of this country, which remains threatened by entrenched cabals who still believe they can block the winds of reform.
“But history has shown time and again: you can delay change, frustrate it, even sabotage it but you can never stop it. I founded DAPPMAN in 2002 (23 years ago) with a clear mission, to challenge the dominance of the major marketers and give independent depot owners a fair platform to thrive.
“I personally structured the group, appointing the late George Enenmoh, then MD of Ascon Oil, as Chairman, while I served as Vice Chairman and Sayyu Dantata as Secretary. At the time, depot ownership was strategic. We were filling critical supply gaps left by an inefficient system.
“But times have changed. Many of the original players have exited the scene, and those left are clinging to assets that no longer reflect today’s business realities . I advised some of them as far back as last year to sell their depots as scrap while they still had value.
“Nigeria now has over 4 million metric tons of storage capacity, most of it idle. With the Dangote Refinery now supplying fuel locally, the old business model is crumbling.
“Zenon Oil pioneered the modern diesel business in Nigeria and grew to become the largest supplier in the country. We built depots to store our imported diesel because the market was import-driven and riddled with inefficiencies. But with Dangote’s refinery fully operational, those gaps no longer exist.
“We now have domestic production and local supply efficient, reliable, and proudly Nigerian. Furthermore, we must not fail to recognise the attendant benefits of eliminating the grid lock around the Ibafon , Tincan and Apapa areas due to the operations of the Dangote Refinery.
“More than just producing fuel, Aliko has elevated the entire logistics chain. He has purchased 8,000 brand new CNG eco-friendly trucks that will distribute across the country with less pollution and fewer breakdowns, unlike the aging, rickety trucks still used by some operators.
“I know this business intimately. I was king of it and at the peak of it in 2005 (20 years ago) , I was conferred with the life patron of the PTD union by Mr Akinlaja. So, when I say the game has changed, I speak from deep experience.”