Billionaire business mogul Femi Otedola has called on oil depot owners across the country to dismantle their depots and sell them as scrap.
Otedola’s remarks come after the announcement earlier on Tuesday that the Dangote Refinery is now fully operational and ready to produce petroleum products, including Premium Motor Spirit (PMS), commonly known as petrol, for distribution nationwide.
Aliko Dangote, President of Dangote Refinery, announced the refinery’s production capacity of 650,000 barrels per day.
He also mentioned that petrol from the refinery would be available in the Nigerian market within 48 hours, depending on the Nigerian National Petroleum Company Limited.
In a post on X, Otedola stated that this development marks the end of the fuel import business in Nigeria.
He wrote, “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 continued, “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.”
