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Amid the lingering dispute between Dangote Refinery and the national oil regulator, Nigerian billionaire, Femi Otedola, has called on the Federal Government to support local investors and visionary leaders in the business sector like Aliko Dangote.
In a lengthy post on Tuesday, July 23, 2024, Otedola made a case for the government’s support for Dangote and other 'local champions.'
Describing the richest man in Africa as a “titan that God created specially for mankind,” Otedola said Dangote “has broken every boundary in worldwide business and industry.”
He said the business mogul “has built the largest single train refinery in the world and the “second-largest sugar refinery in the world.”
“Additionally, he has established one of the second-largest fertilizer plants in the world, soon to surpass the biggest one in Qatar,” he added.
Otedola stressed that Dangote is the largest private-sector employer of labour in Nigeria, adding that his companies are among the largest taxpayers.
“In Nigeria, we have our own titans, and it is imperative that we recognize and support them. Aliko Dangote has broken every boundary in worldwide business and industry.
“His contributions are not just a testament to his brilliance but a beacon of what is possible when vision meets opportunity. Supporting local champions like Dangote is crucial for our national development and economic independence,” the billionaire said.
What's Otedola reacting to?
Otedola’s post is a reaction to the scrutiny Dangote Refinery is currently facing from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The head of the agency, Farouk Ahmed, had recently accused Dangote Refinery of producing fuel with high sulfur levels.
Ahmed also accused Dangote of plotting to monopolise the oil industry, adding that the alleged move could threaten the country’s energy sector.
Reacting, Dangote vowed to halt his investment in steal to prevent accusations of being branded a monopoly.