Femi Otedola, billionaire businessman, has accused depot licence holders of siphoning more than N2 trillion through fraudulent petrol subsidy claims during the administration of former President Goodluck Jonathan. In a statement on Monday, Otedola threw his weight behind the Dangote Petroleum Refinery (DPR) in its clash with the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), which had accused the refinery of “market-disruptive” fuel price cuts. Dangote fired back that DAPPMAN had demanded an annual subsidy of N1.5 trillion to match its gantry prices, a claim Otedola said confirmed long-standing abuses in the subsidy regime. The system was designed to benefit depot owners, and DAPPMAN members became the primary beneficiaries,” Otedola revealed. Otedola urged depot owners to sell, restructure, or move into new value chains, challenging them to pool resources and buy the Port Harcourt refinery if they truly believed in competition.