Vice President Kashim Shettima says Nigeria is bigger than any trade union.
Shettima stated this in Abuja on Monday at the Nigerian Economic Summit (NES31), themed: “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030”.
While stating that Dangote Refinery must be protected at all cost, he added that the $20 billion facility is a national asset that must be supported to function.
Shettima’s comment comes on the heels of the industrial action by oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over dispute with the 650,000 barrels per day Dangote Refinery.
He said, “Aliko Dangote is not an individual, he’s an institution, and he’s a leading light in Nigeria’s economic parliament. And how we treat this gentleman will determine how outsiders will judge us. If he had invested $10 billion in Microsoft, Amazon, or Google, he probably 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 protect the interests of this great Nigeria.
“I wish to call for caution, retrospection, and a deeper sense of patriotism from both labour and the organised private sector in defining and improving the relationship between labour and industry in the interest of maintaining our steadily improving economic fortunes. 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.”
Earlier in his remarks, Olaniyi Yusuf, Chairman of the Nigerian Economic Summit Group (NESG), noted that Nigeria’s foreign direct investment remains weak despite slight improvements in fiscal conditions.
Yusuf said that the way Nigeria treats its domestic investors will serve as a signal to foreign investors assessing the credibility and stability of the country’s business environment.
He stressed that policy predictability, investment protection and transparent mechanisms for resolving business disputes are critical to rebuilding trust in the economy.
“How we treat domestic investors will provide the right signals for foreign investors,” Yusuf said.
He urged the government to prioritise clarity and continuity in economic policy.
The NESG chairman, however, noted that while Nigeria’s fiscal condition had improved, the economy continues to face persistent inflationary pressures, high debt-service obligations, and subdued investor sentiment.