Businessman Femi Otedola has advised depot owners to get set to sell them off as scraps just as he praised his friend Aliko Dangote whose refinery begins to push out its products after months of delay.
Dangote’s fuel from his $20 billion refinery in Lagos is expected to hit NNPC filling stations nationwide in the coming days.
In a social media post, Mr Otedola warned oil depot owners to sell or lose their money, stating that the refinery will revolutionise the industry.
“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,” Otedola wrote.
He said the 650,000 barrels per day facility has dealt a death blow to local cabals.
“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.
“I am reminded of the time you revolutionized the cement industry in Nigeria. Ships that once brought in cement turned into rusting relics, scraps of a bygone era.
“Now, with your refinery in full swing, I foresee a similar fate for fuel imports. The depot owners should take heed—it’s 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,” he said.