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Dangote refinery saved Nigeria from oil cabals – Otedola

25 years dream fulfilled, Otedola hails Dangote on petrol production

 

Billionaire businessman, Femi Otedola, has said that the commencement of petroleum production by the Dangote Refinery in Lagos has released Nigeria from the clutches of foreign powers and local oil cabals.

Otedola said this on Tuesday on his X handle while congratulating Aliko Dangote on the milestone.

On Tuesday, the President of the Dangote Group, Aliko Dangote, during a press conference, announced the official production of petrol at the 650,000 barrels per day facility, boasting that the quality of Dangote Refinery’s Premium Motor Spirit will match that of the United States, and other parts of the world.

Femi Otedola

Otedola said, “My bear brother, Aliko, first and foremost, I want to extend my heartfelt congratulations to President Bola Tinubu for his unwavering support and belief in actualising this monumental achievement under his administration. This day belongs to every Nigerian who has dared to dream of a better future. Congratulations to our great nation—today, we all stand a little taller.

“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. 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.”

Otedola also recalled him and Aliko setting up the Blue Star Consortium to acquire stakes in the Kaduna and Port Harcourt refineries; adding, “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.”

Femi Otedola Congratulates Aliko Dangote on $20bn Refinery Milestone,  Declares End to Economic Dependence - TV360 Nigeria

The businessman also warned depot owners, saying that a similar fate befell cement that one who brought cement into the country ended up useless.

“Now, with your refinery in full swing, I foresee a similar fate for fuel imports. The depot owners should take heed— it is 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.

“Aliko, you have my deepest admiration and respect. Congratulations to you and the entire board, management and staff of Dangote Refinery on this monumental achievement. This is not just a victory for you but for every Nigerian who dares to dream. May this be just the beginning of even greater things to come,” he said.

Meanwhile, Dangote has hailed President Bola Tinubu for creating the naira-for-crude initiative for local refineries.

He said, “I want to thank President Bola Tinubu for creating this idea of naira for crude and naira for the product. Doing that will give a lot of stability to the naira and remove 40 per cent of the demand for dollars. That is not just it, there is a lot of round-tripping.”

He added that it would become possible to track loaded trucks, hence making it easier to compute the national consumption.

“Now that we have this refinery working, it will show the true consumption of Nigeria. We can track each loaded truck and we will try as much as possible to track the loaded ships. Trucks, we can tell you where they are and for some of the products we have, we can tell you the consumption,” he said.

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