Olufemi Adewole
Olufemi Adewole is the Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN). He has been vocal in his condemnation of the Nigerian government's naira-for-crude oil transaction framework, arguing that it poses significant risks to the country's foreign exchange stability and could deter foreign direct investment. Adewole emphasizes the importance of maintaining international standards in oil transactions, which are traditionally conducted in US dollars due to their stability. He has expressed concerns that linking crude oil sales to the naira could exacerbate existing economic challenges, potentially leading to capital flight and hindering Nigeria's economic growth.
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Recent news mentions
Olufemi Adewole is the Executive Secretary of DAPPMAN who expressed concern over the rising tension in the oil and gas industry.
NUPENG Shuts Depots Nationwide as Dangote Refinery Talks Sta
Nigeria· 2025-09-09
Olufemi Adewole is the Executive Secretary of DAPPMAN who signed a statement regarding the impact of NMDPRA's measures on fuel smuggling.
Fuel Smuggling Down 35%: NMDPRA's ImpactNigeria· 2025-07-14
Olufemi Adewole is the Executive Secretary of DAPPMAN who clarified the production issues of the refineries.
Marketers kick as P’Harcourt refinery faces shutdown for maintenanceNigeria· 2025-05-24
Olufemi Adewole is the Executive Secretary of DAPPMAN and confirmed the association's members can only buy petrol from the Dangote Petroleum Refinery.
NNPCL refineries not producing enough petrol – DAPPMANNigeria· 2025-05-19
Olufemi Adewole is the Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria and has commented on the refinery's capacity.
Dangote tackles marketers, insists on capacity to meet fuel demandNigeria· 2025-05-12
Olufemi Adewole is the Executive Secretary of DAPPMAN who raised concerns about the potential monopoly of the Dangote Refinery.
DAPPMAN raises the alarm over Dangote refinery's potential market controlNigeria· 2025-05-09
Olufemi Adewole is the Executive Secretary of DAPPMAN who disagreed with the naira-for-crude deal, citing risks to Nigeria’s foreign exchange stability.
Fuel importers may run out of business soon – RefinersNigeria· 2025-04-20
Olufemi Adewole highlighted concerns over the volatility of the naira, emphasising that crude oil transactions are traditionally carried out in US dollars due to its stability and global acceptability.
Petrol price hike looms as talks drag, imports riseNigeria· 2025-03-27
Olufemi Adewole has condemned the sale of crude oil in naira by the Federal Government to the Dangote Petroleum Refinery.
Depot owners condemn naira-for-crude dealNigeria· 2025-03-25