Billionaire businessman Femi Otedola has intervened in the dispute between the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and the Dangote Refinery, urging marketers to restructure rather than resist change.

In a statement on Monday, Otedola advised DAPPMAN to consider acquiring the Port Harcourt Refinery to remain relevant, instead of clinging to what he described as an outdated fuel import model.

“What is DAPPMAN fighting for today? To preserve a model built on fuel imports, subsidy exploitation, and obsolete infrastructure? That era is fast disappearing,” Otedola said.

He dismissed claims that depots drive job creation, noting that they employ very few people compared to filling stations. He argued that with Nigeria refining fuel locally, depots have become redundant, just as bulk cement carriers became obsolete when Nigeria began producing cement domestically.

“Instead of resisting progress, they should consider selling, restructuring, or investing in new value chains. They could even come together to buy the Port Harcourt Refinery and test their competitiveness,” he advised.

Otedola praised Dangote Refinery’s investment and President Bola Tinubu’s deregulation reforms, describing them as transformative steps for transparency, efficiency, and Nigeria’s energy independence. He recalled founding DAPPMAN in 2002 but said its relevance had now faded.

He further highlighted the refinery’s impact on reducing gridlock in Lagos ports and its investment in 8,000 eco-friendly CNG trucks for nationwide distribution.

His comments followed DAPPMAN’s recent accusation that Dangote was using petrol price cuts to edge out competitors and monopolise the downstream market.