Vice President Kashim Shettima has cautioned the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) against any actions capable of disrupting operations at the Dangote Petroleum Refinery, describing the multi-billion-dollar facility as a strategic national asset crucial to Nigeria’s economic recovery.
Speaking at 31 Nigerian Economic Summit (NES) organised by the Nigerian Economy Summit Group (NESG) in Abuja, Shettima, who represented President Bola Tinubu, described Africa’s richest man, Aliko Dangote, as “not just an individual but an institution,” whose investments continue to define Nigeria’s industrial landscape.
“Aliko Dangote is not an individual, he is an institution. And he is the leading light in Nigeria…. And how we treat this gentleman will determine how outsiders will judge us,” Shettima said.
Shettima noted that Dangote could have easily chosen to invest his wealth abroad in multinational tech giants such as Microsoft, Amazon, or Google, which could have multiplied his fortune many times over.
However, he commended the industrialist’s decision to channel over $10 billion into Nigeria’s economy — particularly through the Dangote Refinery, which he described as a lifeline for the country’s industrial and energy future.
“If he had invested $10 billion in Microsoft, in Amazon, in Google, probably he might be worth $70 to $80 billion by now. But he opted to invest in his country, and we owe it to future generations to jealously protect, promote, preserve, and project the interests of this great Nigerian,” the vice president said.
VP urges labour to exercise caution
The Vice President urged both the labour unions and the organised private sector to exercise caution and patriotism in their engagements, emphasizing the importance of industrial harmony to national stability and investor confidence.
“It’s not about holding the whole nation to ransom because of a minor labour dispute. Nigeria is greater than PENGASSAN. Nigeria is greater than each and every one of us,” he said.
Shettima revealed that the Federal Government had directed the Nigerian Economic Summit Group (NESG) to take a deeper interest in resolving the ongoing issues between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Dangote Refinery. He said the government expects “far-reaching recommendations” from the summit to help safeguard the refinery’s operations and the broader industrial climate.
“This is a refinery financed through a combination of equity investment, debt finance, and loans from both local and foreign banks. The refinery has to function to salvage the debt, and we cannot hold the whole nation to ransom for issues that can be amicably settled across the table,” Shettima said.
He reiterated that protecting large-scale investments such as the Dangote Refinery was crucial to sustaining economic growth, job creation, and Nigeria’s international reputation as a safe destination for business.
“The government will continue to take steps to protect big industry and ensure industrial harmony for the good of the nation,” he assured.
Backstory
Last week, PENGASSAN suspended its nationwide strike against Dangote Petroleum Refinery following the intervention of the Federal Government.
However, the union stressed that the suspension is only temporary and warned that industrial action would resume without notice if the refinery fails to honour its commitments.
PENGASSAN President, Festus Osifo, announced the decision on Wednesday in Abuja after marathon negotiations involving government officials, union leaders, and representatives of the Dangote Refinery.
The Dangote Petroleum Refinery, commissioned in 2023 with a touted capacity of 650,000 barrels per day, has faced recurring disputes with oil sector unions.
