VP Shettima calls Dangote refinery a national asset, urging Nigerians to protect it following a brief strike by oil union PENGASSAN.

Vice President Kashim Shettima has described Africa’s richest man, Aliko Dangote, as an institution and declared the $20 billion Dangote refinery a critical national asset that must be “jealously protected.”

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Speaking at the 2025 Nigerian Economic Summit held in Abuja on Monday, the Vice President highlighted the refinery’s central role in Nigeria’s push for economic stability and industrial self-sufficiency.

The 650,000-barrel-per-day Dangote Refinery, located in Lagos, is considered the largest single-train refinery in the world and a key pillar of the federal government’s plan to reduce fuel imports and stimulate domestic refining.

“Aliko Dangote is not just an individual — he is an institution and a leading light in Nigeria’s economic parliament. The way we treat him sends a clear message to foreign investors.

If he had invested $10 billion in Amazon or Microsoft, he’d be worth $70–$80 billion today. But he chose Nigeria.”

“We owe it to future generations to jealously protect, promote, and preserve this national asset.”

His remarks come just days after industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) disrupted operations at the refinery over the alleged dismissal of 800 unionised workers.

The strike was called off after the intervention of Labour Minister Muhammad Dingyadi and National Security Adviser Nuhu Ribadu.

While calling for resolution of disputes through dialogue, Shettima warned both labour unions and the private sector against actions that could undermine national progress.

“I wish to call for caution, retrospection, and patriotism from both labour and the organised private sector. It’s not about holding the nation to ransom over a minor industrial dispute,” he said.

“Nigeria is greater than PENGASSAN. Nigeria is greater than each and every one of us.”

The Vice President’s remarks were met with applause from stakeholders at the summit, where discussions centred around the country’s economic recovery, investment climate, and structural reforms.

The Dangote Refinery is expected to significantly reduce Nigeria’s dependency on imported fuel*, potentially saving the country billions in foreign exchange annually.

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Its success is also seen as a litmus test for large-scale industrial investment in Africa’s most populous nation, amid ongoing efforts to attract foreign direct investment and boost local production across sectors.