Rent-seeking economy rigged against most Nigerians— Dele Oye, ex-OPS boss

Dele Oye, former president of the Nigerian Association of Chambers of Commerce, stated that Nigeria's rent-seeking economy is rigged against most Nigerians. In a speech at the Vanguard Economic Discourse, he warned that the $74 billion livestock sector should not become another Ajaokuta, emphasizing that government attempts to operate businesses often lead to disasters. In May 2023, Nigeria was on the brink of economic collapse, with debt servicing costs consuming up to 124% of government revenue.