- Safiu Kehinde
The President, Nigerian Association of Chambers of Commerce Industries, Mines and Agriculture (NACCIMA), Dele Oye on Wednesday listed violations of the rule of law, greed in high places, leadership ignorance and others as some of the reasons Nigeria is not making progress.
Oye said with all the potentials the country has, it’s saddening that almost all the sectors of the economy are burdened .
The NACCIMA chief, who was delivering a welcome address at the 2025 annual economic discourse of the Vanguard Newspapers at the Civic Center Lagos, said people in authorities keep flouting the rules and regulations guiding their positions.
He cited the instance of the current situation in Rivers State where he said the Sole Administrator has shunned the order of a court not to appoint local government caretaker members.
Oye lamented that when courts become victims of executive lawlessness, the country is on its way to losing all economic benefits.
“Who wants to invest in an economic environment where courts are not respected?” Oye asked.
The NACCIMA boss who was the Chairman of the event said lack of transparency in government also slow down progress just as he queried the current government over its alleged propaganda over the refineries.
Oye said when the government told Nigerians the PortHarcourt refinery had started working, all the government needed was to ensure that its product hit the market for Nigerians to see.
He held that organising what he called “pilgrimage” to the refinery was not the way to convince Nigerians the refinery is working.
He also decried incessant use of state funds to broadcast provisions of infrastructure adding that the resources which ought to be used to further more developments are being deployed to what he called jamboree by those he also said looked like drunken public officials.
Oye further noted that Nigeria is at crossroads with dire need to be strategic in order to reshape the country’s destiny.
“Nigeria must succeed and be strategic; we are at crossroads where we can reshape our current destiny, where adversity can give rise to opportunity.”
“As we navigate today’s economic landscape, we face significant headwinds, including persistent inflation, geopolitical tensions, and disruptions in global supply chains.” He said.
The NACCIMA boss highlighted the country’s potentials that can be harnessed.
“However, we also have promising tailwinds: advancements in technology, emerging trade partnerships, and a vibrant, entrepreneurial youth. The balance between these challenges and opportunities will shape Nigeria’s future, highlighting the need for thoughtful policies that harness our potential while addressing the risks ahead.” He said
Oye further hinted on the economic and socio-political implications of the current global landscape.
He stated: “We find ourselves at a pivotal moment in history, with profound global changes redefining relationships and power dynamics.
“The current U.S. administration’s focus on isolationism and trade wars has led to a reevaluation of America’s long-standing alliances, leaving many nations, including Nigeria, to grapple with the complexities of a shifting world order.
“The resurgence of Russia from a backdrop of U.S. policy shifts reminds us of the importance of adaptability in diplomacy.
“For Nigeria, these developments underscore the necessity of prioritizing economic sovereignty and a shift to a homegrown democracy that is both viable and affordable. We need a political structure that can withstand external pressures and remain resilient in the face of global shifts.”
One of the panelists, Dr. Tayo Aduloju, who is the Chief Executive Officer of the Nigerian Economic Summit said part of the problems is the lack of consistency at the level of policy making.
Aduloju said before the refineries started working, there were official promises that the cost of fuel would go down.
He lamented that the reverse has been the case noting that with the the coming of refineries, prices have gone up.
Aduloju called for more robust consultations.
If we take ourselves serious, 12 months will be enough for us to have the results we need in this country,”Aduloju
The Director General of the Centre for Promotion of Private Enterprise Dr. Muda Yusuf, while speaking during the panel discussion, condemned the increase in taxes and tariffs in all sectors.
Yusuf said all the tariffs are killing local manufacturing and sending investors away.
Engr Mrs Joana Olutunbi Maduka while contributing asked Nigerians to start ignoring the government saying governments at all levels have failed Nigerians.
She said when the private sector operators take the lead and succeeding governments will begin to look for the people.