Dangote vs NMDPRA: No investor will trust a nation that undermines its key assets – Atiku

Former Vice-President Atiku Abubakar has waded into the controversy between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), saying no investor will trust a nation that undermines its key assets. The opposition leader in a post on his verified verified Facebook account posted that the 650,000 bpd refinery is essential for […]

Former Vice-President Atiku Abubakar has waded into the controversy between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), saying no investor will trust a nation that undermines its key assets.

The opposition leader in a post on his verified verified Facebook account posted that the 650,000 bpd refinery is essential for our energy needs and economic stability, saying it is essential to drive the nation’s economy.

He said the ongoing impasse is capable of affecting foreign direct investment to the country.

Recall that Aliko Dangote had earlier disclosed how a cabal was blocking his moves to import crude and how it has been difficult to get products.

But the situation took a worse turn when the NMDPRA said the government was yet to license the Dangote refinery to begin operations, even casting aspersions at the quality of the product.

At an interactive session with House of Representatives members led by the speaker at the weekend, Dangote countered the claim, saying the diesel from his refinery is of a very high standard.

Commenting on the rift, Atiku said, “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.”