“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.”

”Mr Dele Oye, the President of the Nigerian Association of Chambers of Commerce Industries, Mines and Agriculture (NACCIMA), said today, during the Vanguard 2025 Economic Discourse, held in Lagos.

Oye, who is the Chairman of the event , said that the current economic situation of Nigeria has brought the country to a crossroad, where strategy is required for success.said it is possible for Nigeria to reshape its economic challenges and turned the adversity to opportunity.

He said : “Nigeria must succeed and be strategic; we are at crossroads where we can reshape our current destiny, where adversity can give rise to opportunity.”

Oye had earlier offered insights to Vanguard on Nigeria’s economic outlook 2025.

His words: “As we navigate today’s economic landscape, we face significant headwinds, including persistent inflation, geopolitical tensions, and disruptions in global supply chains.

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 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.

The U.S. Trade Representative (USTR) has criticized Nigeria’s ban on 25 product categories, saying it hampers American exports and deepens trade tensions.‎‎

In a post on X, the USTR listed the restrictions—covering beef, poultry, fruit juice, pharmaceuticals, and spirits—among the top 10 unfair trade practices by foreign nations.

‎‎”These policies create significant trade barriers that lead to lost revenue for U.S. businesses looking to expand in the Nigerian market,” said the USTR.‎‎

Nigeria is among several countries, including India, Thailand, Kenya, and the EU, cited for policies the U.S. says collectively block billions in potential exports.‎‎India and Thailand’s restrictions on U.S. ethanol, and Kenya’s 50% corn tariff, were also flagged.‎‎

The USTR warned such practices hurt American farmers, manufacturers, and workers, linking them to job losses and factory closures.‎‎

Notably, China was criticized for undercutting U.S. flag makers, with $2 million in monthly lost sales due to Chinese imports.

Pascal Dozie, the former Diamond Bank CEO, was born on April 9, 1939, in Egbu, Owerri, Imo State, Nigeria.‎‎

Dozie began his educational journey at Our Lady’s School in Emekuku, eventually advancing to the prestigious London School of Economics, where he earned a degree in Economics and a master’s in Administrative Science.

‎‎In 1990, Dozie established Diamond Bank, before its eventual merger with Access Bank. He later handed the reins to his son, Uzoma.‎‎

He served as the pioneer chairman of MTN Nigeria.

‎‎He received the prestigious National Award of the Commander of the Order of the Niger (CON) for his contributions to Nigeria’s banking industry.‎‎