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Shocking Revelation: Moghalu Accuses Nigeria’s Economy Of Being At ‘Wealth Machine’ For The Few
Shocking Revelation: Moghalu Accuses Nigeria’s Economy Of Being At ‘Wealth Machine’ For The FewProfessor Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria (CBN), has criticized Nigeria’s economy for favoring only the wealthy while neglecting the poor. Moghalu’s comments highlight concerns over the recent dispute between Aliko Dangote, President of the Dangote Group, and the Nigerian National Petroleum Company Limited (NNPCL) regarding the Dangote Refinery. He argues that this situation underscores the government’s failure to create an economy that benefits all citizens.....KINDLY READ THE FULL STORY HERE▶
In a statement on his X handle, Moghalu expressed dismay at the pervasive influence of vested interests and corrupt ties between government officials and businesses, which he believes have led to economic failures. He stated, “The NNPCL and Aliko Dangote saga is a stark example of how successive Nigerian governments have failed to develop an economy that generates wealth for its people. Our economy seems designed to enrich a select few while the majority of Nigerians continue to suffer.”
Moghalu criticized the lack of effective economic policies that could support smaller businesses and foster a thriving economy akin to that of South Korea. He also condemned the government’s inability to create a fair and competitive business environment, which he believes stifles wealth creation and perpetuates corruption and incompetence.
The President of the Institute for Governance and Economic Transformation, Africa, warned that the ongoing issues surrounding the Dangote Refinery could deter foreign investors, further portraying Nigeria as a risky business environment. He called for more selfless and capable leaders to drive genuine economic progress, warning that without such leadership, the country’s economic prospects remain bleak.
Kano State Governor, Abba Kabir Yusuf, has welcomed the return of former Governor and Senator, Ibrahim Shekarau, to the All Progressives Congress (APC), describing the development as a boost for the party in the state.....KINDLY READ THE FULL STORY HERE▶
In a statement issued on Sunday by his Chief Press Secretary, Mustapha Muhammad, the governor said Shekarau’s return would further strengthen the APC’s political structure in Kano ahead of future elections.
He added that a date would soon be fixed in consultation with the party’s national secretariat for Shekarau’s formal reception into the APC.
Governor Yusuf noted that the party is steadily gaining support across the state, describing it as the most dominant political force in Kano.
He also expressed confidence in the APC’s readiness for upcoming elections, saying the party is well-positioned to contest and secure victories across various offices.
According to him, the growing unity and realignment within the party have boosted its strength and direction.
The governor further urged party members to remain committed and continue mobilising support as preparations for future elections intensify.
The National Working Committee (NWC) of the New Nigeria People’s Party (NNPP) has announced Bala Yunusa Mohammed as its new National Chairman.....KINDLY READ THE FULL STORY HERE▶
In a statement signed by the party’s National Publicity Secretary, Ladipo Johnson, Bala was described as an experienced administrator who previously served as the National Organising Secretary of the party.
The NNPP said his emergence brings leadership experience, strategic strength, and renewed commitment to its grassroots political ideology.
The party also confirmed the resignation of its former National Chairman, Dr. Ajuji Ahmed, who has left to join the African Democratic Congress (ADC).
It expressed appreciation for his service, noting his contributions during his tenure and wishing him success in his future political engagements.
The statement said the leadership change comes at a critical period in Nigeria’s political landscape, citing economic hardship, inflation, insecurity, and what it described as threats to democratic stability ahead of the 2027 elections.
NNPP alleged growing political tension, including internal party crises and legal battles aimed at weakening opposition parties.
With Bala now at the helm, the party said it is positioning itself for stronger unity and preparation ahead of the next general election, describing the move as part of efforts to offer Nigerians better governance alternatives.
The Labour Party has clarified that it does not currently operate any official social media account for public communication.....KINDLY READ THE FULL STORY HERE▶
The party was reacting to what it described as a fake X account operating under the name “LABOUR PARTY (LP)NIG” with the handle @LabourpartyNGR_, which it alleged is being used by individuals linked to Julius Abure’s camp to spread misleading information.
In a statement signed by Ken Eluma Asogwa, Senior Special Adviser on Media to the Interim National Chairman, the party said the account had earlier been disowned in a previous public notice but was later altered to deceive the public.
It explained that the operators changed the account name and handle after the initial disclaimer in an attempt to continue misleading unsuspecting members of the public.
The party listed its known social media accounts as Facebook: Labour Party-Nig (about 12,000 followers) and X: LabourPartyNG (about 837,000 followers), noting that both are currently inactive.
The Labour Party said it has petitioned the Nigeria Police to recover its official X account, which it claims is still under the control of the former party leadership.
It added that individuals linked to the matter, including Julius Abure and Umar Farouk, are cooperating with police investigations at the Force Intelligence Department.
The party stressed that all official communications are now issued only through statements from the Office of the Interim National Chairman.
It warned the public to disregard any information coming from the disputed account, including claims about prominent political figures joining or returning to the party, describing such reports as false and unauthorised.
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