‘Time to Sell those Oil Depots as Scrap’ Otedola hails Dangote Refinery

Billionaire business magnate, Femi Otedola, has told owners of oil depots in the country to dismantle their depots and sell them as scrap.

Femi Otedola said this following the announcement earlier on Tuesday that Dangote Refinery is now fully ready to churn out petroleum products, including the Premium Motor Spirit also known as petrol across the country.

It was earlier reported that the President of Dangote Refinery, Aliko Dangote, on Tuesday announced the rollout of Petrol from his 650,000 barrels per day.

He had in an earlier report said that the Petrol from the refinery will be available in the Nigerian market in 48 hours depending on the Nigerian National Petroleum Company Limited.

Otedola, in a post on X, said the development has practically put an end to the business of fuel importers in the country.

“..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,” he wrote.

“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.