The Chairman of Integrated Oil and Gas Ltd., Capt. Emmanuel Iheanacho (rtd), has faulted the call by billionaire businessman and Chairman of Geregu Power Plc, Mr. Femi Otedola, for petroleum marketers in the country to dismantle their depots and sell them as scrap following the commencement of petrol production by Dangote Refinery.

In a statement issued on Wednesday, Iheanacho emphasised the indispensable role of depot owners in Nigeria’s fuel supply chain, particularly in the context of the delivery of petrol by the 650,000 barrels per day Dangote Refinery.

Otedola had, in a post on X on Tuesday shortly after a live broadcast by the President of Dangote Group, Aliko Dangote, who displayed samples of petrol produced from his $20 billion refinery, suggested that Nigerian depot owners should dismantle their facilities and sell them as scrap, given the arrival of Dangote’s petrol.

Iheanacho, who is also a member of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), clarified that petroleum products storage depots were a vital component of the fuel supply chain, complementing primary fuel sources.