Nigeria’s Economic Stability at Risk as Atiku Abubakar Warns of Deterred Foreign Investment

In a recent post on his social media handle, former Vice President Atiku Abubakar has expressed concern over the conflict between Aliko Dangote, President of Dangote Group, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Atiku, who was the presidential candidate of the Peoples Democratic Party (PDP) in the last general election, believes that the feud poses a significant threat to Nigeria’s energy and economic stability.

Atiku emphasized that the Dangote Refinery, the country’s largest private investment, is crucial for Nigeria’s energy needs and economic stability. The refinery, with a capacity of 650,000 barrels per day (bpd), is essential for the country’s energy independence and economic growth. He warned that if the conflict is not resolved, Nigeria risks deterring vital foreign direct investment, which is essential for driving economic growth.

Atiku’s statement comes amid a growing concern over the impact of the conflict on Nigeria’s economy. The dispute has already led to a delay in the completion of the Dangote Refinery, which was expected to boost the country’s energy production and reduce dependence on imported fuel.

The former Vice President’s warning highlights the importance of resolving the conflict and protecting significant investments like the Dangote Refinery. Atiku believes that no investor will trust a nation that undermines its key assets, and that protecting such investments is essential for attracting foreign direct investment and driving economic growth.

The conflict between Dangote and NMDPRA has sparked concern among investors and stakeholders, who fear that it could have far-reaching implications for Nigeria’s economy. The dispute is being closely watched by international investors and energy experts, who are waiting to see how it will be resolved.

In his statement, Atiku urged Nigeria to prioritize the resolution of the conflict and protect its key assets, including the Dangote Refinery. He emphasized the importance of attracting foreign direct investment and driving economic growth, and warned that neglecting significant investments like the Dangote Refinery could have devastating consequences for the country’s economy.