Dangote/NNPC Saga: A Friend Like Otedola

By Darlington Nwobodo

“Real friends are the ones you can count on no matter what. The ones who go into the forest to find you and bring you home.”

             – Morgan Matson

In the midst of controversy raging between Dangote Refinery and NNPCL officials regarding operationality of the 650,000 capacity refinery, there is a rare virtue that I have observed with keen interest in the whole unfolding imbroglio: the essence of true friendship! a friend that sticks out his neck to defend interest of a friend when it is not convenient to do so, especially against government in power.

Femi Otedola, chairman of Geregu Power PLC, is that dependable friend, ally and business partner! The friendship between Alhaji Aliko Dangote and Femi Otedola is not one united by wealth alone, but rooted in deep ideology and shared philosophy of business, investing and patriotism! It is a friendship that transcended tribal and religious differences.

It is a relationship fueled by that burning desire to see Nigeria become an industrial hub of Africa via strategic investment in critical aspects of the nation’s economy. No wonder these two friends have their tentacles spread in the lifewire of the economy, like power, banking, maritime, cement, oil, gas, sugar, fertilizer, etcetera.

Some Nigerians might be wondering why Femi Otedola has been very vocal in defending interest of Dangote Refinery in the face of obvious conspiracy by some unscrupulous elements in the oil and gas industry to sabotage the biggest single train refinery in the world! It is because Femi Otedola understands Aliko Dangote’s struggle.

The struggle is a quest propelled by the vision to make Nigeria self-sufficient in refined petroleum products, but it has been the toughest business battle in the entrepreneurial voyage of the colossus behind Dangote Group. This battle to liberate Nigeria from the claws of oil cartel that makes a fortune from Nigeria’s pain cum misery did not start today.

It has been a turbulent voyage on the sea of uncertainty riddled with sharks, whales, leviathans, doing everything possible, covertly and overtly to tumble this ship manned by Alhaji Aliko Dangote, African most decorated industrialist! To him, the desire to stop importation and make Nigeria self reliant in refined petroleum products is a life goal he has dedicated rest of his life to accomplish.

In the midst of this struggle ably led by Alhaji Aliko Dangote, is an uncommon friend and dependable ally in the person of Femi Otedola. Ote$ as he is fondly called has been sticking together with his friend, united with the common vision to emancipate Nigeria from protracted energy crisis. He has been standing shoulder-to-shoulder with the African richest man, even in challenging times like this.

Almost twenty years ago, a consortium led by Alhaji Aliko Dangote and his “lieutenant” Femi Otedola made bold move to buy Port Harcourt and Kaduna Refineries, respectively, during the twilight of President Obasanjo’s administration via privatization, but this great effort was reverted by successive government of President Musa Yar’Adua, thereby taking the nation back to square one.

It was a pathetic case of the hand of Esua and voice of Jacob. The oil cartel milking Nigeria dry through importation of refined petroleum allegedly made sure the deal did not see the light of the day. It became still birth. Almost two decades after this unfortunate reversal, Nigeria has wasted billions of dollars in Turn Around Maintenance (TAM) on those refineries without commensurate result, while our foreign reserves is hemorrhaging as a result of importation of petroleum products.

Alhaji Dangote and his ally, Otedola, suffered setback in their patriotic quest to free the nation from oligopolistic stronghold of oil mafia that does not want our refineries to work for their own selfish interests at the expense of the country. The duo did not give up on the idea of making Nigeria self reliant in production of refined petroleum products.

From the ashes of the obstacle encountered by the consortium, Dangote Refinery was born! It became a child of necessity. Throughout this tumultuous journey of building the biggest refinery in Africa, Femi Otedola, has always been beside his friend providing support at and when due. He has never shy away from throwing his weight in support of an ally whenever it is necessary.

Everyone with a vision to do wonders and leave an indelible mark on the sands of time needs a reliable friend, ally like Femi Otedola. It is a genuine friendship founded on business philosophy to unleash industrial cum economic potentials of giant of Africa. And it has stood test of times!

Ralph Waldo Emerson succinctly captured it in his postulation: “When friendship are real, they are not glass threads or frost work, but the solidest things we can know.” It explains why Femi Otedola, has taken it upon himself to appeal for government support for a humongous project like Dangote Refinery that has the potential to end the nation’s over fifty-two years of petroleum crisis.

In a scintillating piece written by Femi Otedola in defense of Dangote Group, he espoused the cogent reasons for a third world country like ours in dire need of industrialization to cherish and support industrial heavyweights like Aliko Dangote, instead of vilifying them just to satisfy myopic entrenched interest of few who want to keep everyone economically hostage in perpetuity.

As at last count, the wittingly crafted viral article by Femi Otedola had gathered over 1.6 million views on Twitter (X) alone. In the write-up, the quintessential billionaire investor highlighted nationalist virtues vis-a-vis entrepreneurial acumen of his friend, Alhaji Aliko Dangote, who he referred as “The Visionary”.

He wrote: “My brother, the Visionary, has built the largest single train refinery in the world, not in Kano, but in Lagos State. He is the owner of the second-largest sugar refinery in the world, also in Lagos State, and the largest cement factory in the world, not in Kano, but in Kogi State.”

Femi Otedola did not stop there, he went further to remind those in corridors of power strategic roles Dangote Group is playing in the economy via job creation, tax contribution, wealth production, fixing critical infrastructure, etcetera, and how government in other climes support their great industrialists to grow economies of their respective countries.

He wrote: “Aliko Dangote is also the largest private sector employer of labor in the country, and his companies are among the largest taxpayers. In fact, the Dangote Group often pays more in taxes than the top banks combined. If not for him, we would still be importing cement. His contributions extend beyond industrial facilities to critical infrastructure, having built major roads such as the Apapa Oshodi-Owonrosoki Express Road, Wharf Road, and the Obajana-Kabba Road.”

Femi Otedola has shown what true friendship is made of and meant for. He has proven to be a dependable ally ready to stand together with his trusted friend in a moment of crisis of confidence not minding whose ox is gored. Otedola is a friend whose commitment and loyalty in the time of trouble can never be questioned. He has shown this priceless virtue again and again.

A friend like Femi Otedola is worth more than mines of diamond!

*Nwobodo writes via chidieberenwobodo@yahoo.com