Oil War Erupts: Marketers Blast Otedola Over Dangote Comments

Oil marketers in Nigeria have pushed back against billionaire businessman Femi Otedola’s call for them to dispose of their investments in the nation’s oil sector.

Speaking on Channels Television’s The Morning Brief on Tuesday, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, described Otedola’s remarks as “insensitive” and poorly considered.

Otedola had alleged that fraudulent subsidy claims thrived under former President Goodluck Jonathan’s administration, tied largely to depot licenses—a system he argued encouraged rent-seeking and corruption rather than innovation or transparency.

The billionaire particularly targeted the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), which has recently been at odds with the Dangote Refinery. He recalled founding DAPPMAN in 2002 to empower independent depot owners, but said its current members were clinging to assets that had lost relevance.

In response, Gillis-Harry stressed that Otedola could not speak for the association. He argued that many marketers had poured billions into infrastructure across the country and could not simply discard their investments because Otedola had divested and moved on.

“Otedola’s view on scrapping existing structures is not thoughtful. He knows what it took to build those assets. While innovation is necessary, these facilities—spread across Port Harcourt, Calabar, Lagos, and other parts of Nigeria—remain critical for product distribution. Suggesting they be scrapped is advice he should reconsider,” Gillis-Harry stated.