After successfully mobilising funds for his $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 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 has declared its support for the project and hailed Dangote’s efforts.
Dangote, who 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, appealed for support for President Goodluck Jonathan’s economic transformation agenda for acceleration of the growth of the nation’s economy.
Speaking as the chairman of the third Quadrennial Delegate Conference of the National Union of 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 musters the political will to drive to its logical conclusion, the ongoing reforms in the oil and gas industry.
The Petroleum Industry Bill (PIB), according to him, was 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, Engr. Joseph Makoju, said the bill which has been designed to enhance the value of the sector for the Nigerian people, also seeks to plug identified loopholes in policies and management agreements and by so doing, improve transparency and efficiency of the sector.
Dangote, then expressed the need for a collaboration between labour unions that champion 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.