Dangote Refinery Will Transform Oil Sector — Otedola Warns DAPPMAN!

Dangote Refinery Will Transform Oil Sector — Otedola Warns DAPPMAN!

Reported by David Joshua | Sele Media Africa

Nigerian billionaire and oil magnate Femi Otedola has weighed in on the ongoing tension between Dangote Refinery and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), declaring that the arrival of the refinery signals an irreversible shift in Nigeria’s oil industry.

Speaking at a recent energy stakeholders’ forum, Otedola urged DAPPMAN to “innovate or perish”, stating that competition is healthy and consumers deserve better pricing and availability.

He praised Aliko Dangote for achieving what many thought was impossible — building Africa’s largest refinery, and called on oil marketers to embrace the new reality and explore collaborative strategies, rather than resisting progress.

“The era of monopolistic fuel supply and dependence on foreign imports is fading. We either evolve or get left behind,” Otedola said.

He also noted that the Nigerian economy will benefit significantly through job creation, reduced import bills, and foreign exchange savings as the refinery ramps up production.

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Marian Opeyemi Fasesan

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Marian Opeyemi Fasesan is a dynamic journalist and editorial leader committed to excellence in news reporting and storytelling. As the Managing Editor of Sele Media Africa, she ensures daily operations run smoothly while upholding the highest editorial standards. With a strong eye for detail and deep understanding of audience engagement, Marian coordinates content across platforms, guiding teams to produce compelling, timely, and credible news. Her leadership reflects the heart of Sele Media Africa’s mission—to inform, inspire, and elevate voices across the continent.

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