As the rift between industrial giant, Aliko Dangote and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) deepens, President Bola Tinubu has called for restraint and unity, warning that personal or corporate interests must never eclipse Nigeria’s collective progress.
Tinubu stated this at the 31st Nigerian Economic Summit (NES) organised by the Nigerian Economy Summit Group (NESG), on Monday in Abuja.
The summit has as its theme: “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030.”
The president, represented by his vice, Kashim Shettima, revealed that government was taken steps to protect big industry to guarantee industrial harmony for the good of the nation.
According to him, Aliko Dangote is not an individual; he is an institution.
“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
“I, therefore, call for caution, retrospection and a deeper sense of patriotism from both the labour and the organised private sector in defining and improving relationship in the interest of all Nigerians.
The Federal Government recently brokered truce between the PENGASSAN and the management of Dangote Petroleum Refinery.
PENGASSAN had directed its members to stop gas supply and withdraw services from the refinery, accusing the company of terminating the employment of more than 800 of its members
Dangote Refinery, however, explained that the disengagement of workers was due to an ongoing restructuring exercise in the company.
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.
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