Dismantle Your Depots, Sell Them As Scraps–Otedola Tells Nigerian Oil importers

Nigeria’s billionaire business mogul, Femi Otedola, has warned owners of oil depots in the country to dismantle and sell their depots as scrap.

Otedola’s disposition is predicated on the cherry news earlier on Tuesday that Dangote Refinery is now fully ready to churn out petroleum products, including the Premium Motor Spirit otherwise called petrol across the country.

Recall that the President of Dangote Refinery, Aliko Dangote, on Tuesday announced the rollout of Petrol from his 650,000 barrels per day facility.

Dangote added that Petrol from the refinery will be available in the Nigerian market in 48 hours depending on the Nigerian National Petroleum Company Limited.

Following this development, Femi Otedola, in a post on X, said the development has practically changed narrative in the business of fuel importation in Nigeria. In his context

“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.

“Now, with your refinery in full swing, 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 said.

The current debacle in the Nigerian oil sector has left little to desire as citizens especially transporters continue to pay through their noses like the head of a camel passing through the eye of a needle with consequential inflation.

Will the Tinubu led federal government assuage plights of the masses in this critical sector of economy, time will tell.