• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Moghalu Says Dangote Refinery Drama Dims Nigeria’s Economic Prospects

by Chibuzo Ukaibe
11 months ago
in Politics
Moghalu
Share on WhatsAppShare on FacebookShare on XTelegram

Following the revelations and intrigues generated by the impasse over crude supply to Dangote Refinery, former presidential candidate of Young Progressive Party (YPP), Prof Kingsley Moghalu, has said Nigeria has little economic prospects in the immediate future.

Advertisement

He, however, said the prospects will improve when more selfless and competent leaders arrive on the social, political and economic scenes.

President of Dangote Group, Aliko Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) alongside Nigeria National Petroleum Company Limited (NNPCL), were locked in a messy dispute, ranging from monopoly allegations to supply of crude the refinery, substandard fuel imports and ownership of blending plants in Malta.

Moghalu, a former deputy governor of Central Bank of NIgeria (CBN), said it is deeply unfortunate that Nigeria has been experiencing economic failure due to loyalties to vested interests and unholy ties between “business” and government.

The political economist said  the impasse over the refinery would make investors and potential investors see Nigeria as a truly risky business environment.

RELATED

JUST-IN: Dalori Resumes As APC Acting Chairman, Presides Over NWC Meeting

JUST-IN: Dalori Resumes As APC Acting Chairman, Presides Over NWC Meeting

2 hours ago
JUST-IN: Wike Revokes PDP National Secretariat Land

BREAKING: Policemen Lay Siege To PDP Headquarters, Stop Planned BoT, NEC Meetings

2 hours ago

Reacting to the unfolding event on his X handle, Moghalu said, “The @nnpclimited v @AlikoDangote saga is a sad tale of how successive governments of Nigeria have failed to create a real economy that generates wealth for its citizens. Our economy might work only for a very few who get rich while Nigerians continually get poorer. #Rentseeking

“The economic failure of Nigeria’s leaders because of loyalties to vested interests and unholy ties between “business” and government is deeply unfortunate. @NigeriaGov is, and has been unable, either to stimulate through effect economic policy a set of strategic oligopolies across sectors under which smaller businesses and supply chains thrive, making up a successful national economy as in South Korea. Neither has the government, on the other hand, been able to create a truly competitive, level playing field for business in Nigeria so that wealth creation can be more democratic. So it’s just failure, corruption and incompetence all around. Instead we are regaled with sensational accusations on all sides when sweetheart deals go sour for reasons that actually lie outside the immediate subject of dispute.im

“Meanwhile, what will investors and potential investors think of all this? That Nigeria is a truly risky business environment, that’s all. Until our more selfless and competent leaders arrive on the scene, I am afraid our country’s economy has little real prospects in the immediate future,” he said.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Moghalu
SendShareTweetShare
Previous Post

Ondo Guber: Find Passion In Agriculture, Gov Aiyedatiwa Tells Ondo Youths

Next Post

3 Die As Another Building Collapses In Lagos

Chibuzo Ukaibe

Chibuzo Ukaibe

You May Like

JUST-IN: Dalori Resumes As APC Acting Chairman, Presides Over NWC Meeting
Politics

JUST-IN: Dalori Resumes As APC Acting Chairman, Presides Over NWC Meeting

2025/06/30
JUST-IN: Wike Revokes PDP National Secretariat Land
Politics

BREAKING: Policemen Lay Siege To PDP Headquarters, Stop Planned BoT, NEC Meetings

2025/06/30
JUST-IN: Wike Revokes PDP National Secretariat Land
Politics

JUST-IN: PDP BoT Changes Meeting Venue Over Police Siege On Party Secretariat

2025/06/30
Peter Obi Calls For Reopening Of Onitsha Markets Closed Over Illicit Drugs
Politics

I’ll Contest Again In 2027, Obi Assures Supporters

2025/06/30
Gov Yusuf Leads Kano Delegation To Dantata’s Burial In Saudi Arabia
Politics

Gov Yusuf Leads Kano Delegation To Dantata’s Burial In Saudi Arabia

2025/06/30
Kwara APC Campaign Council DG Charges Members On Door- to-door Campaign
Politics

APC Stakeholders Seek Power Shift To Kajuru

2025/06/29
Leadership Conference advertisement

LATEST

AGN Inaugurates National Secretariat, Unveils Plan For Creative Hub In FCT

Brand Launches AfroExchange, Holds Send-off For Bnxn, Others

Hong Kong To Raise Passport, Visa, Permit Fees

Nigerian Caregiver Sentenced For Abusing 88-yr-old Patient In UK

Panic As Bees Attack Worshippers At Central Mosque In Edo

JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity

JUST-IN: Dalori Resumes As APC Acting Chairman, Presides Over NWC Meeting

Federal Gov’t Delegation Arrives In Saudi Arabia For Dantata’s Burial

BREAKING: Policemen Lay Siege To PDP Headquarters, Stop Planned BoT, NEC Meetings

US To Recognise Only Civil Marriages For Refugee, Asylum Spousal Applications

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.