The importance of resolving conflicts between investors and governments in a confidential manner is a crucial issue for economic development and market stability. In a recent interview with Fatshimetrie, the famous columnist Dele Momodu stressed the need to find private solutions to disputes between major economic players and the State.
Momodu highlighted the potentially damaging case of the standoff between the Dangote refinery and federal authorities, calling for a discreet resolution of these disputes. According to him, inviting the parties concerned to resolve their differences in private would avoid the harmful fallout of a public escalation. He suggested a more discreet approach, saying: “He should invite her into a room. Let them sort this out behind closed doors. We can’t afford to air this dirty laundry in public. It could backfire.” against all of us. That’s my position.”
Highlighting Dangote’s substantial investments in Nigeria and other countries, Momodu stressed the importance of supporting local businessmen and not discouraging them. He pointed out that other entrepreneurs might be deterred from investing if they believe that even an iconic figure like Dangote may face difficulties with the authorities.
Momodu warned of the potential broader implications for Nigeria’s business climate: “Other business leaders in Nigeria are watching. They might say, ‘Well, if it can happen to Dangote, it can happen to me too .’ And everyone would be scared. We shouldn’t create this panic. We can’t afford that right now.”
Meanwhile, Minister of State for Petroleum Resources, Heineken Lokpobiri, convened a meeting with key stakeholders, including Aliko Dangote, to address the lingering disputes over the refinery. This initiative announces a possible resolution of tensions and demonstrates the government’s commitment to promoting a constructive business climate conducive to investment.
Awareness of the impact of public conflicts on the image of the national economy and on the perception of investors is essential to promote a healthy and attractive economic environment. By promoting discretion and diplomacy in resolving disputes, Nigeria will strengthen its reputation as a reliable actor and encourage sustainable and mutually beneficial investment.