Atiku Abubakar, the former Vice President of Nigeria, has expressed concerns regarding the ongoing conflict between Aliko Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Thank you for reading this post, don't forget to subscribe!Posting on his verified Facebook account, Abubakar stressed the immense significance of the Dangote Refinery to Nigeria’s energy and economic stability.
Abubakar emphasized that the Dangote Refinery, which stands as the nation’s largest private investment with a capacity of 650,000 barrels per day (bpd), is crucial for fulfilling Nigeria’s energy requirements and ensuring economic stability. He highlighted that the Nigerian National Petroleum Corporation Limited’s (NNPCL) investment in the refinery further underscores its vital role in the country’s energy sector.
He stated that the ongoing conflict between Aliko Dangote and the NMDPRA is deeply troubling, noting that the refinery’s capacity and significance cannot be overstated. The 650,000 bpd facility is essential not only for meeting the nation’s energy needs but also for maintaining economic stability. The NNPCL’s involvement in the project signifies its importance to Nigeria’s future.
Abubakar warned of the severe repercussions that could arise from neglecting such a pivotal project. He pointed out that undermining a key asset like the Dangote Refinery would diminish investor confidence, making it difficult for Nigeria to attract the foreign direct investment (FDI) necessary for economic growth.
He cautioned that ignoring this issue could deter essential foreign direct investment. No investor, he argued, would trust a country that fails to protect its significant assets. Ensuring the security and success of major investments like Dangote’s refinery is critical to attracting FDI and driving economic development.
Hear him: “The conflict between Aliko Dangote and NMDPRA 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.”
