Former Vice President Atiku Abubakar has weighed in on the ongoing conflict between business magnate Aliko Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), describing the situation as “troubling”.
In a statement released on Tuesday, Atiku emphasized the significance of the Dangote Refinery, Nigeria’s largest private investment, to the country’s energy and economic stability. He noted that the 650,000 barrels per day refinery is crucial for meeting Nigeria’s energy needs and driving economic growth.
He tweeted, “The conflict between @AlikoDangote and @NMDPRA_Official is troubling. The Dangote Refinery, our nation’s largest private investment, is crucial for Nigeria’s energy and economic stability.
“The 650,000 bpd refinery is essential for our energy needs and economic stability, and NNPCL’s investment underscores its importance. If we neglect this, we risk deterring vital foreign direct investment.
“No investor will trust a nation that undermines its key assets. Protecting significant investments like Dangote’s is essential to attract FDI and drive our economic growth.”
Atiku expressed concern that if the conflict is not resolved, it could deter vital foreign direct investment, as investors may lose trust in the country’s ability to protect its key assets. He stressed the importance of safeguarding significant investments like Dangote’s to attract foreign investment and drive economic growth.
The former Vice President’s intervention comes as the conflict between Dangote and NMDPRA continues to raise concerns about the impact on Nigeria’s economy. The situation has sparked debate about the need for a stable investment climate to attract foreign investment and drive economic growth.
