Renowned social commentator and publisher of Ovation Magazine, Dele Momodu, has cautioned the Federal Government against discouraging local and foreign investors from doing business in Nigeria.
He expressed concern over the ongoing dispute between the Nigerian Midstream and Downstream Petroleum Authority and Dangote Refinery, which he believes is affecting the refinery’s owner, Aliko Dangote.
Momodu made his comments on Channels Television’s Politics program on Monday, emphasizing the need for a favorable business environment that encourages investment and promotes economic growth.
He urged the government to resolve the dispute amicably, ensuring that the interests of both parties are protected.
“It’s almost like it is a crime to be an investor in Nigeria. I saw the reports in the Financial Times, Bloomberg and others. It will not help Nigeria.
“I don’t know who has grudges to bear with him. He should call him into a bedroom. Let them go and settle it behind closed doors. We cannot afford to wash this dirty linen in public. It is going to boomerang for all of us. That is my attitude.
“I believe this man has invested so much in Nigeria, just like other people. We have a lot of good businessmen in Nigeria who are doing great things. We should encourage them and not allow them to run away. Now, he said one of his friends is laughing at him because he warned him not to put all his eggs in one basket.
“I have seen other countries where Dangote invested. I have been to his plants in Ethiopia, Zambia and Tanzania. I can see the effort those countries are making to accommodate him there. We should not chase our businessmen away.
“I am sure other business people in Nigeria are watching. They might say, ‘hey, if this can happen to Dangote, it can happen to me.’ And everybody will be scared. We should not create this panic. We can’t afford this at this time,” Momodu warned.
The Minister of State for Petroleum Resources, Heineken Lokpobiri, has reportedly convened a crucial meeting with key stakeholders, including businessman Aliko Dangote and NMDPRA leadership, to address the ongoing disputes affecting the supply of crude to the Refinery.
But Momodu insisted that it would be a shame for Nigeria to allow its oil sector players and stakeholders to be washing their ‘dirty linen’ in public while the world looks on.
He said, “The whole social media is awash and abuzz with the issue of this Dangote refinery issue. Instead of me rehashing what people are saying, let me just tell you my own solution. Mr President, in this season of anomie in Nigeria, you need all the friends you can get in the private sector.
Momodu’s concerns come as the Federal Government intervenes in the dispute, highlighting the importance of supporting investors and promoting economic growth.
The Dangote Refinery, one of the largest in Africa, has been a significant investment in Nigeria’s energy sector, and the government’s support is crucial for its success.
By fostering a supportive business environment, Nigeria can attract more investments, create jobs, and drive economic development.
