The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has urged for enhanced protection and support for local industries. This comes as the organization praised the federal government’s involvement in the dispute between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Dangote Refinery.
Dele Oye, NACCIMA’s National President, emphasized the importance of safeguarding local industries in a statement released to Vanguard.
Oye highlighted that local industries are vital for economic progress, citing their role in job creation, economic diversification, domestic supply stability, technological advancement, innovation, increased GDP, and foreign exchange savings.
“Supporting local industries like Dangote Refinery goes beyond ensuring market competitiveness. It involves securing domestic supply, fostering global competitiveness, enhancing local economic linkages, creating jobs, reducing foreign exchange expenditures, and strengthening the Naira. Undermining such significant local industries is detrimental to our national interests,” Oye said.
He stressed that protecting local industries involves more than just shielding them from foreign competition. It requires creating a supportive environment that enables them to flourish and contribute to the country’s economic well-being.
Oye also commended Minister of State for Petroleum Resources, Heineken Lokpobiri, for organizing a high-level meeting with key stakeholders including Aliko Dangote, President of Dangote Group; Farouk Ahmed, Chief Executive of NMDPRA; Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC); and Mele Kyari, GCEO of the Nigerian National Petroleum Corporation Limited (NNPCL), aimed at addressing the issues surrounding Dangote Refinery.
“The Dangote Refinery is a remarkable achievement and a symbol of African innovation and entrepreneurship. It is vital for Nigeria’s industrial sector and economic growth. NACCIMA believes that undermining such a crucial project is counterproductive to Nigeria’s development goals,” Oye added.
He called on all parties to resolve their differences through private, constructive dialogue to promote a collaborative environment that encourages investment and supports local industries.
