By Emeka Blast 
Femi Otedola Slams ₦1bn Lawsuit on Umar Sani Over Petroleum Subsidy Claims
In a bold move to defend his reputation, billionaire businessman Femi Otedola has instructed his lawyers to file a N1 billion libel lawsuit against Umar Sani, former spokesperson to ex-Vice President Namadi Sambo, following explosive accusations that Otedola profited from the infamous petroleum subsidy scam through his company, Zenon Petroleum and Gas Ltd.
The legal escalation comes amid a heated public spat triggered by Otedola’s recent criticisms of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), which he co-founded, for allegedly clinging to a “corrupt model built on subsidy fraud and obsolete infrastructure.” Sani fired back in a scathing statement on social media, alleging that Otedola himself reaped massive benefits from the subsidy regime during the Goodluck Jonathan administration, claiming over N2 trillion was siphoned through dubious claims and that Zenon controlled up to 90% of diesel imports under the scheme.
Dismissing the claims as “malicious lies” and a “calculated smear campaign,” Otedola vehemently denied any involvement, asserting that Zenon Petroleum and Gas Ltd. exclusively dealt in diesel—a deregulated product ineligible for subsidies at the time—and never traded in Premium Motor Spirit (PMS), the only fuel qualifying for claims under the Petroleum Subsidy Fund (PSF). In a detailed rebuttal shared across his platforms, the philanthropist and Chairman of Geregu Power Plc revealed his pivotal role as the whistleblower who first exposed the subsidy fraud to then-President Jonathan in 2012, crediting himself with alerting the administration to the “monumental fraud” perpetrated by economic saboteurs.
“If I were complicit in subsidy theft, would I be the one to raise the alarm and blow the whistle on myself? That alone should question the motive of Umar Sani,” Otedola wrote, labeling Sani’s remarks as either “mischief” exploiting public ignorance or a “blatant display of gross ineptitude.” He further recounted how, after going public as the whistleblower, some perpetrators retaliated by attempting to falsely implicate him during the House of Representatives probe led by Farouk Lawan—a reference to the infamous 2012 sting operation where Otedola famously provided marked cash to Lawan, leading to the lawmaker’s bribery conviction.
The controversy reignited debates over Nigeria’s fuel subsidy era, with Otedola urging President Bola Tinubu to declassify the full Aigboje Aig-Imoukhuede panel report from the Jonathan era. “Let the report be made public so the real subsidy thieves can be unmasked. Nigerians deserve to know the truth about those who looted public funds under the PSF scheme,” he demanded, emphasizing that he has “nothing to hide” and has chronicled his side of the story in his recently published memoir, Making It Big.
Otedola, a key ally of Africa’s richest man Aliko Dangote amid the ongoing Dangote Refinery tussle with DAPPMAN, vowed to pursue the suit relentlessly. “Because of these deliberate lies and unfounded allegations, I have instructed my lawyers to file a ₦1 billion libel suit against Umar Sani. People must learn that reputations are not to be toyed with for cheap propaganda and also to serve as a deterrent for other mischief makers in the future. I will go to every extent that this is achieved.”
Sani, who served as Special Adviser (Media) to Sambo during the Jonathan administration, has yet to respond publicly to the lawsuit threat. The feud underscores lingering tensions over the subsidy scandal, which drained billions from Nigeria’s coffers and fueled widespread protests in 2012.
As the case heads to court, it promises to dredge up fresh details on one of the country’s most notorious financial controversies. Legal experts anticipate a high-profile battle, with Otedola’s deep pockets and Sani’s political connections setting the stage for a courtroom showdown.
