Dangote’s Oil Refinery Rekindles Hope for Industrialisation – DG MINILS

The Director General Micheal Imoudu National Institute for Labour Studies , (MINILS) Mr Issa Aremu, has described the inauguration of the 650,000 barrels per day (BPD) Dangote Oil Refinery as “the most singular positive development narrative changer” for Nigeria and Africa since independence and end of colonialism.

Mr Aremu made this observation in a statement while congratulating Alhaji Aliko the President of the Dangote Group on the inauguration of the $25 billion investment, the most expensive industrial complex in Africa.

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Aremu observed that the historic commissioning has further confirmed Alhaji Aliko as Africa’s consistent and resilient Africa’s Industrializer who has shown “there is a long but rewarding walk to Africa’s re-Industrialization and economic growth.”

“Undoubtedly the richest man in the continent, but what increasingly marks Aliko out is his consistent commitment and trade mark of value addition and beneficiation to the abundant raw materials in the continent and creation of much needed mass employment for African workers” Aremu said.

According to the Director General, Dangote Group of Industries “is fast changing the narrative of the continent from that of ‘resource curse’ to resource beneficiation, value addition and mass employment through industrialization”.

Aremu said the refinery inauguration taking place on the eve of inauguration of the new President elect Asiwaju Bola Ahmed Tinubu with renewed hope agenda of posterity and mass job creation.

“The point cannot be overstated; the future of Africa lies in Industrialisation which means the process of transforming raw materials, with the aid of labour and capital goods, into consumer goods and capital new capital goods. The advantages of industrialization include, creation of sustainable mass decent jobs, lessening of dependency on imports, thus saving scarce foreign exchange and enhanced government revenue through company taxes.”

Aremu called for a robust pan-African partnership for “politics of development” between governments at all levels, between private sector and organised labour adding that Dangote refinery shows that Africa’s development renaissance lies in cooperation and participation.

He said the strong point of the refinery when fully operational is the positive impact of hundreds of thousands of direct and indirect sustainable decent jobs against the background of youth unemployment and underemployment.

The refinery which was commissioned on Monday by President Muhammadu Buhari, is expected to meet 100per cent of Nigeria’s demand for all refined products.

N.O