Mr Kachikwu, the younger brother of Nigeria’s former Minister of State for Petroleum Resources, Ibe Kachikwu, was declared winner after polling 977 votes against his closest contender, Mr Moghalu.
Mr Moghalu, the former deputy governor of the CBN, came second with 589 votes while Mr Monye came third with 339 votes.
In his address to the delegates before the election, Mr Kachikwu said his emergence would be the end of the political careers of the flag bearers of the ruling All Progressives Congress (APC) and the main opposition Peoples Democratic Party (PDP) for the 2023 election.
“I am here to offer myself to you not because I am better than anybody here, but because I care about the future of our country.
“I offer myself because God has given me the main recognition to stand side-by-side with Atiku, Tinubu and to send them into retirement,” he said at the event.
With his loss, on Wednesday, Mr Moghalu may not be on the ballot for next year’s presidential election.
As the Young Progressive Party (YPP) presidential candidate in 2019, Mr Moghalu scored 21,886 votes in the main election to secure the 14th position behind the winner, President Muhammadu Buhari of the APC.
Apart from Messrs Moghalu and Monye, Mani Ibrahim, Angela Johnson, Joyce Nsaka, Chike Okogwu, Chichi Ojei, Favour Ayodele, Muhammed Lamido, Ify-George Oforkansi, and Ebiti Jegede also obtained the ADC presidential forms.