October 06, (THEWILL) — Vice President Kashim Shettima has warned that Nigeria’s economic future could be in jeopardy if the country continues to undermine or politicise the efforts of indigenous investors, particularly Africa’s richest man, Aliko Dangote.
Speaking on Monday during the opening of the 2025 Nigerian Economic Summit held in Abuja, Shettima emphasised that no nation can attain sustainable development without protecting those who invest their resources in its growth.
The remarks came amid a recent labour dispute between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
Tasking labour unions and the organised private sector to exercise restraint and patriotism in resolving industrial disputes, the Vice President, however, cautioned against any threats to the Dangote Refinery, which he described as a national asset.
He said Dangote’s investments in refining, manufacturing, and agriculture represent a profound statement of faith in the Nigerian economy that must be respected and supported.
“Aliko Dangote, he’s not an individual, he’s an institution, and he’s a leading light in Nigeria’s economic parliament. And how we treat this gentleman will determine how outsiders will judge us. If he had invested $10 billion in Microsoft, in Amazon, or in 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.
“Nigeria is greater than PENGASSAN. Nigeria is greater than each and every one of us. I’m not coming to you as a partisan. 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,” he cautioned
The Vice President described Dangote’s contribution to industrialisation as a patriotic effort that has created thousands of jobs and advanced Nigeria’s quest for self-sufficiency in key sectors. He warned that constant attacks or unfair criticism of such investors could discourage future private investments and weaken public confidence.
“We cannot afford to vilify those who commit their wealth and energy to building this nation. When we protect and encourage our investors, we are safeguarding our collective future”, he said.
The Vice President emphasised that while Nigeria continues to attract foreign capital, the strength of its economy rests on the resilience and vision of local entrepreneurs who invest despite infrastructure and policy challenges.
Shettima cited the Dangote Refinery as an example of transformative investment capable of reshaping Nigeria’s energy sector and positioning the country for industrial growth. According to him, such a project deserves consistent policy support and institutional protection rather than undue controversy or obstruction.
He urged government agencies, regulators, and political leaders to maintain fairness and transparency in their engagements with the private sector, noting that predictable policies and a stable business climate are vital to economic recovery.
Shettima reaffirmed the Tinubu administration’s commitment to creating a friendly environment for investors, saying government reforms are designed to promote innovation, enhance productivity, and attract both local and foreign capital.
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