AFTER successfully mobilising funds for his $9 billion investment in refining and petrochemical sub-sector of the petroleum industry, president of Dangote Group, Alhaji Aliko Dangote, has declared that only an enabling environment provided by all stakeholders in the industry remains a panacea for any meaningful investment in the local oil and gas industry, for the growth and development of the nation’s economy.
This is even as the organised labour declared its support for the project and hailed his business doggedness and pioneering effort aimed at ridding the nation of waste of resources, through importation of refined products by commencing establishment of local refinery that will guarantee sufficient local consumption and export.
Just as he called on the government to muster necessary political will to deal with issues threatening investments in the oil sector, so that other investors would have confidence to come on board, he appealed for President Goodluck Jonathan’s support as regards economic transformation agenda for acceleration of the growth of Nigeria’s economy.
Speaking as the chairman at the third Quadrennial Delegates’ Conference of the National Union f Petroleum and Natural Gas Workers (NUPENG), in Port Harcourt, at the weekend, the business magnate warned that the dream to refine and produce petroleum products for exports would not come to fruition, unless the Federal Government mustered the political will to drive to its logical conclusion the ongoing reforms in the oil and gas industry.
Dangote was honoured by the union, as he was also given an award by the union as an exemplary and true industrialist and pioneer of local private refinery.
The Petroleum Industry Bill (PIB), according to him, is a bold step that was initiated to correct perceived flaws in the industry, as it was intended to address structural, policy and managerial issues in the Nigerian oil and gas sector.
The Dangote Group president, who was represented by his Chief of Staff, Mr Joseph Makoju, said the bill, which had been designed to enhance the value of the sector for the Nigerian people, also sought to block identified loopholes in policies and management agreements and by so doing, improve transparency and efficiency of the sector.
He said: “When the PIB is fully signed into law, it is expected to address observed weaknesses and abuses by operators and stakeholders, eliminate corruption and restructure the industry, in order to make it more responsive to social and economic needs of both Nigerians and investors in the sector.”
“It is now generally accepted that successful passage and signing of the PIB into law is vital to the growth and development of the Nigerian petroleum industry. Amongst other things, it will help address gas flaring, which is a perennial and highly contentious issue in the industry and by improving the empowerment and buy-in of host communities, it will ultimately curtail youth restiveness in the Niger Delta region.”
Dangote then expressed the need for a collaboration between labour unions which championed the interest of workers and the Organised Private Sector (OPS), noting that this was necessary to ensure that both the privatised industries and those established by individuals, function at optimal levels.
Addressing the gathering on “Reforms in the Oil and Gas Industry: Catalyst for National Growth and Development, What Prospect for the Attainment of Decent Work Agenda?”, Dangote said the labour unions play crucial roles in the economy.
“You are the voice of the workers in the oil and gas sector, which is the mainstay of the nation’s economy. This, therefore, places enormous responsibility on you to enhance the stability of the economy and create a peaceful and enabling environment that will attract investors like the Dangote Group to invest in growing the nation’s economy. You have performed excellently well in this regard and you deserve special commendation.
“It may be of interest to this particular assembly to learn that the refinery and petrochemical complex, as well as the fertiliser plants, shall be served by an off-site truck parking stop, built entirely to international standards with the linkage of all its amenities and communication to the complex. A communication and electronic monitoring system will be established on each land access route to the complexes to ensure there will be no chaotic traffic congestion near the complexes. The project will be the largest refinery/petrochemical/fertiliser complex in Africa.
“At the conclusion of the project, Dangote Refinery will meet 100 per cent of local demand for refined fuel products, while polypropylene, which is used in the manufacture of agro-sacks, poly bags and other industrial products, will catalyse the birth of new and allied industries. We are estimating that the project will engage up to 25,000 people over a four-year construction period and will create about 3, 500 permanent jobs when completed,” he said.
In his address, president of the Nigeria Labour Congres (NLC), Abdulwahab Omar, said Nigerian workers would continue to be grateful to Dangote for his penchant to break the odds and establish industries that employs thousands of people, despite the many challenges being faced by investors in establishing industries.
He stated that Dangote had proven to be a real industrialist desirous of prosperity for the people and the nation, with the establishment of refinery, petrochemical and fertiliser plants, saying he deserved cooperation from the government and the organised labour to make him succeed.
Speaking also, the President of NUPENG, Igwe Achese, said the union decided to give award to Dangote, because of his steadfastness in promising and fulfilling it, pointing out that when he first mentioned the move to establish refinery, many thought it was a fluke, but today, he has been vindicated with massive fund garnered recently for the purpose.
He said Dangote was the only pan-African investor Nigeria could be boast of having established his presence in many African countries.
Achese assured that his union would be ready to contribute in any capacity to make the investment a reality as soon as possible, because ultimately, his union members would be beneficiaries.
Speaking in the same vein, the Deputy Governor of Rivers State, Tele Ikuru who represented governor Rotimi Amaechi thanked Dangote for his many investments in the country and that more investors like him would change the economy of Nigeria and take it to a great height.