Nigeria TV Info 

Dangote Allegations May Scare Away Foreign Investors, PETROAN Warns

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that allegations made by billionaire industrialist Aliko Dangote against the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) could discourage foreign investors from committing funds to Nigeria’s oil and gas sector.

PETROAN, in a statement, said while stakeholders have the right to raise concerns, such sensitive issues should be addressed through appropriate regulatory and legal channels to avoid damaging investor confidence. The association stressed that public disputes involving key regulators could project Nigeria as an unstable investment destination.

According to PETROAN, the oil and gas industry relies heavily on policy stability, strong institutions and mutual trust between investors and regulators. It cautioned that prolonged public disagreements may create uncertainty, slow down reforms in the downstream sector and affect the inflow of foreign direct investment.

The association urged all parties involved to engage constructively, emphasizing the need to protect Nigeria’s economic interests while ensuring transparency and accountability within regulatory agencies.