Otedola Criticizes Depot Owners in Dangote Faceoff - Calls for Market Adaptation
Femi Otedola, a Nigerian billionaire, intervened in the faceoff between Dangote Refinery and Depot Petroleum Products Marketers Association of Nigeria (DAPPMAN) by writing a strong letter. Otedola criticized depot owners for clinging to an outdated model that no longer adds value in Nigeria's deregulated oil market, especially with the rise of Dangote Refinery.
He founded DAPPMAN in 2002 to empower independent depot owners but now believes the model is redundant. Otedola warned that the Dangote Refinery could burden consumers and urged depot owners to adapt to the changing market dynamics for the benefit of the Nigerian economy.
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