Femi Otedola Hails President Tinubu & Dangote Refinery Revolution, Calls Out Outdated DAPPMAN Model
Femi Otedola Hails Dangote Refinery Revolution, Calls Out Outdated DAPPMAN Model in Explosive X Post
**Lagos, Nigeria – September 22, 2025, 10:45 AM UTC** – Billionaire businessman and industrialist Femi Otedola has ignited a firestorm in Nigeria’s energy sector with a detailed and provocative post on X, celebrating the transformative impact of Aliko Dangote’s refinery while delivering a scathing critique of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN). Shared earlier today at 10:45 AM UTC (1:45 PM WAT), the post underscores a historic shift in the country’s downstream petroleum landscape, crediting President Bola Ahmed Tinubu’s bold deregulation policy and Dangote’s execution for breaking the stranglehold of entrenched interests.
Otedola, a veteran player in Nigeria’s oil and gas scene and the founder of DAPPMAN in 2002, lauded the Dangote Refinery’s role in securing Nigeria’s energy independence since commencing operations in early 2025. “It is a historic leap for Nigeria’s economic future,” he wrote, highlighting how the 650,000-barrel-per-day facility has disrupted a market long plagued by subsidy fraud, product diversion, and smuggling. He singled out Tinubu’s full deregulation of the downstream sector—implemented in June 2024—as the political will that no other leader had mustered, shattering the grip of cabals resistant to change.
#### A Personal Perspective from the “King” of Diesel
Drawing from his own storied career, Otedola revealed his intimate knowledge of the industry, noting his reign as a diesel market leader in 2005, when he was named life patron of the Petroleum Tanker Drivers (PTD) union. He described founding DAPPMAN 23 years ago to challenge major marketers and empower independent depot owners, a mission that filled critical supply gaps in an import-driven era. However, he now argues that model is obsolete. “With Dangote Refinery supplying fuel locally, those gaps no longer exist,” he stated, advising former DAPPMAN allies to sell their idle depots—totaling over 4 million metric tons of unused storage—as scrap, echoing a trend seen in the cement industry’s local production boom.
Otedola’s post also spotlighted logistical innovations, praising Dangote’s deployment of 8,000 eco-friendly CNG trucks to replace aging fleets, reducing pollution and easing gridlock in areas like Apapa. This move, he argued, elevates the entire supply chain, a stark contrast to the “rickety trucks” still used by some operators.
#### DAPPMAN Under Fire: A Call to Adapt or Fade
The billionaire didn’t mince words when addressing DAPPMAN’s current stance. “What is DAPPMAN fighting for today? To preserve a model built on fuel imports, subsidy exploitation, and outdated infrastructure?” he asked rhetorically. He dismissed claims that depots drive employment, noting they employ just five people on average, compared to dozens at filling stations. Instead, he urged marketers to invest in retail outlets or even acquire the Port Harcourt Refinery to stay relevant, citing global trends where depots in Amsterdam and Houston are being repurposed or retired.
This critique comes amid heightened tensions between Dangote Refinery and DAPPMAN, which on September 19, 2025, demanded N1.5 trillion annually from Dangote to subsidize logistics costs—a request the refinery rejected as a relic of corrupt past regimes. The Crude Oil Refinery Owners Association of Nigeria (CORAN) has since called for collaboration to avert a supply crunch, but Otedola’s stance suggests little room for compromise.
#### Broader Context: Economic Gains and Ongoing Challenges
Otedola’s remarks align with recent economic gains, including Nigeria’s external reserves reaching $41.66 billion on September 17, 2025, bolstered by Dangote’s export of 3.23 million metric tonnes of refined products in Q3 2025. The National Industrial Court’s injunction on September 17 halting a NUPENG strike at depots further supports his narrative of a logistics chain in flux. Yet, challenges persist, with some Nigerians on X questioning whether refinery success will translate into affordable fuel, given record-high prices post-deregulation.
The post has sparked a polarized reaction online. Supporters hail Otedola’s insider perspective, with one user tweeting, “Femi speaking facts—DAPPMAN’s time is up!” Critics, however, point to the rich-poor divide, with another quipping, “The poor still wondering why this tweet is so long 😂.” Amid the discourse, Otedola’s call for adaptation resonates as Dangote’s refinery continues to reshape Nigeria’s energy future.
What’s Next?
As the energy sector navigates this seismic shift, all eyes are on how DAPPMAN will respond to Otedola’s challenge. With deregulation reducing import dependency by 90% and idle depot capacity mounting, the stage is set for a new era of competition and innovation. Otedola concluded with a lighthearted nod to his friend Aliko Dangote: “You can now go to Monaco and rest jejely like me. You’ve earned it.” For now, the battle lines are drawn, and Nigeria’s energy story is far from over.
*This blog post is based on Femi Otedola’s X post (ID: 1970077040301711819) from September 22, 2025, supplemented by recent industry developments as of 03:46 PM +03 on September 22, 2025.*
