Nigeria’s Vice President Kashim Shettima said on Monday that the country’s interests outweigh those of any trade union, warning against actions that could disrupt operations at the $20 billion Dangote Refinery.
Speaking at the 31st Nigerian Economic Summit in Abuja, themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030,” Shettima described the refinery as a “national asset” that must be protected to support economic growth.
“Aliko Dangote is not an individual; he’s an institution and a leading light in Nigeria’s economic parliament,” Shettima said. “If he had invested $10 billion in Microsoft, Amazon, or Google, he might be worth $70–$80 billion today. But he chose to invest in Nigeria, and we owe it to future generations to protect and preserve that investment.”
The Vice President’s remarks follow an industrial action by oil workers under the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over a dispute with the 650,000 barrels-per-day refinery, Africa’s largest.
Shettima urged both labour unions and private sector players to show restraint and patriotism in handling disputes, cautioning against actions that could undermine national progress.
“Nigeria is greater than PENGASSAN. Nigeria is greater than each and every one of us,” he said.
Earlier, Chairman of the Nigerian Economic Summit Group (NESG), Olaniyi Yusuf, said Nigeria’s foreign direct investment remains weak despite improvements in fiscal conditions.
Yusuf warned that how Nigeria treats domestic investors will influence foreign investor confidence, stressing the need for policy stability, investment protection, and transparent dispute-resolution mechanisms.
“Policy predictability and continuity are essential for rebuilding trust in the economy,” he said, adding that persistent inflation, high debt service, and weak investor sentiment continue to weigh on economic recovery.
The Dangote Refinery, commissioned in 2023, is expected to transform Nigeria’s energy landscape by reducing fuel imports and boosting domesticrefining capacity.