“With the Dangote Refinery now supplying fuel locally, the old business model is crumbling. Zenon Oil pioneered the modern diesel business in Nigeria and grew to become the largest supplier in the country.
He also spoke on the benefits of the Dangote Refinery to the Nigerian economy.
“We built depots to store our imported diesel because the market was import-driven and riddled with inefficiencies. But with Dangote’s refinery fully operational, those gaps no longer exist. We now have domestic production and local supply efficient, reliable, and proudly Nigerian. “Furthermore, we must not fail to recognise the attendant benefits of eliminating the gridlock around the Ibafon , Tincan, and Apapa areas due to the operations of the Dangote Refinery. More than just producing fuel, Aliko has elevated the entire logistics chain.
“He has purchased 8,000 brand new CNG eco-friendly trucks that will distribute across the country with less pollution and fewer breakdowns, unlike the aging, rickety trucks still used by some operators. I know this business intimately. I was king of it and at the peak of it in 2005 (20 years ago) ,
“I was conferred with the life patron of the PTD union by Mr Akinlaja. So, when I say the game has changed, I speak from deep experience,” he said.
Otedola’s interference followed DAPPMAN recently accusing the Dangote Refinery of an attempt to monopolise the downstream sector.
According to them, Dangote’s constant slashing of petrol pump prices was far from patriotism, but a mere business strategy of sidelining other marketers in the business.
At the heart of the controversy is Dangote’s newly purchased 4000 Compressed Natural Gas trucks for direct distribution of petrol to filling stations nationwide.
