The Digest:
In his upcoming book, Femi Otedola recounts a fiery confrontation with President Obasanjo after deregulation of diesel led to a nationwide shortage. Obasanjo accused Otedola of misleading him, while the businessman defended his actions, claiming competitors spread false information.
Key Points:
- Obasanjo erupted in anger after the diesel shortage followed deregulation.
- Otedola assured Obasanjo that the private sector could manage supply, but competitors misled the president.
- Otedola was called a “stupid boy” and faced Obasanjo’s fury at 2 am.
- The businessman claimed he had supplies ready and presented evidence to Obasanjo.
- To combat misinformation, Otedola planned to publicly advertise diesel availability.
- Otedola’s book, Making It Big, receives praise from global leaders like Ngozi Okonjo-Iweala.
- The book releases on August 18, 2025.
Otedola’s book provides a behind-the-scenes look at a crucial moment in Nigerian history, shedding light on the challenges of deregulation and the power dynamics at play. The confrontation with Obasanjo marks a turning point in Nigerian business history.
Sources: TheCable, FO Books
