Vice President Kashim Shettima has cautioned the Petroleum and Pure Fuel Senior Workers Affiliation of Nigeria (PENGASSAN) towards any actions able to disrupting operations on the Dangote Petroleum Refinery, describing the multi-billion-dollar facility as a strategic nationwide asset essential to Nigeria’s financial restoration.
Talking at 31 Nigerian Financial Summit (NES) organised by the Nigerian Economic system Summit Group (NESG) in Abuja, Shettima, who represented President Bola Tinubu, described Africa’s richest man, Aliko Dangote, as “not simply a person however an establishment,” whose investments proceed to outline Nigeria’s industrial panorama.
“Aliko Dangote is just not a person, he’s an establishment. And he’s the main gentle in Nigeria…. And the way we deal with this gentleman will decide how outsiders will decide us,” Shettima mentioned.
Shettima famous that Dangote may have simply chosen to speculate his wealth overseas in multinational tech giants corresponding to Microsoft, Amazon, or Google, which may have multiplied his fortune many occasions over.
Nevertheless, he counseled the industrialist’s choice to channel over $10 billion into Nigeria’s financial system — notably by way of the Dangote Refinery, which he described as a lifeline for the nation’s industrial and vitality future.
“If he had invested $10 billion in Microsoft, in Amazon, in Google, in all probability he could be price $70 to $80 billion by now. However he opted to spend money on his nation, and we owe it to future generations to jealously shield, promote, protect, and venture the pursuits of this nice Nigerian,” the vp mentioned.
VP urges labour to train warning
The Vice President urged each the labour unions and the organised non-public sector to train warning and patriotism of their engagements, emphasizing the significance of commercial concord to nationwide stability and investor confidence.
“It’s not about holding the entire nation to ransom due to a minor labour dispute. Nigeria is larger than PENGASSAN. Nigeria is larger than each one in every of us,” he mentioned.
Shettima revealed that the Federal Authorities had directed the Nigerian Financial Summit Group (NESG) to take a deeper curiosity in resolving the continued points between the Petroleum and Pure Fuel Senior Workers Affiliation of Nigeria (PENGASSAN) and the Dangote Refinery. He mentioned the federal government expects “far-reaching suggestions” from the summit to assist safeguard the refinery’s operations and the broader industrial local weather.
“It is a refinery financed by way of a mix of fairness funding, debt finance, and loans from each native and overseas banks. The refinery has to perform to salvage the debt, and we can not maintain the entire nation to ransom for points that may be amicably settled throughout the desk,” Shettima mentioned.
He reiterated that defending large-scale investments such because the Dangote Refinery was essential to sustaining financial development, job creation, and Nigeria’s worldwide repute as a secure vacation spot for enterprise.
“The federal government will proceed to take steps to guard massive business and guarantee industrial concord for the great of the nation,” he assured.
Backstory
Final week, PENGASSAN suspended its nationwide strike towards Dangote Petroleum Refinery following the intervention of the Federal Authorities.
Nevertheless, the union pressured that the suspension is just short-term and warned that industrial motion would resume with out discover if the refinery fails to honour its commitments.
PENGASSAN President, Festus Osifo, introduced the choice on Wednesday in Abuja after marathon negotiations involving authorities officers, union leaders, and representatives of the Dangote Refinery.
The Dangote Petroleum Refinery, commissioned in 2023 with a touted capability of 650,000 barrels per day, has confronted recurring disputes with oil sector unions.