$9 Billion Refinery Project: Dangote Seeks Stakeholders’ Cooperation

Posted by African Examiner Business News Monday, October 21st, 2013

The African Examiner

Following the successful mobilization of $9 billion investment in refining and petrochemical sub sector of the petroleum industry, President of Dangote Group, Aliko Dangote has declared that only an enabling environment provided by all stakeholders in the industry will ensure meaningful investment in local oil and gas industry and ensure sustainable growth and development of the nation’s economy.

President of Dangote Group, Aliko Dangote

Engr. Joseph Makoju, while speaking on behalf of Aliko Dangote as the Chairman of the third Quadrennial Delegate Conference of the National Union of Petroleum and Natural Gas Workers (NUPENG) in Port-Harcourt over the weekend, warned that the dream to refine and produce petroleum products for exports will not come to fruition unless the Federal Government musters the political will to deal with issues threatening investments in the oil sector and drive to its logical conclusion the ongoing reforms in the industry.

Also speaking on the Petroleum Industry Bill (PIB), the business magnate said the PIB is a bold initiative aimed at correcting flaws in the industry and likewise address structural, policy and managerial issues in the Nigerian oil and gas sector.

He further said, when signed into law, PIB will eliminate corruption and will ensure a reform that will make the industry more to social and economic needs of both Nigerians and the investors in the sector. 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.”

While addressing the gathering on “Reforms in the Oil and Gas Industry” said that 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 to invest in growing the economy.” Aliko Dangote was honoured by the union with an award recognising his exemplary initiative and industrialism in pioneering local private refinery in Nigeria.

He further shared insights on the Dangote Refinery/Petrochemical/Fertilizer complex which will the largest in Africa.

“At the conclusion of the project, Dangote Refinery will meet 100 percent 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 catalyze 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.”

In his address, President of the Nigeria Labour Congres (NLC), Abdulwahab Omar said Dangote has proven to be a real industrialist, desirous of prosperity for the people and their nation with the establishment of refinery, petrochemical and fertilizer plants that will break the odds and establish industries that employs thousands of people despite the many challenges being faced by investors in establishing industries.

Speaking also, the President of NUPENG, Igwe Achese said the union decided to give award to Dangote because of his steadfastness in fulfilling his commitment towards establishing a functional private refinery hitherto thought to be wishful thinking, but today has been vindicated with massive fund garnered recently for the purpose. He said Dangote is the only Pan-African investor Nigeria could 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.