*Governor, Charles Chukwuma Soludo of Anambra State, South-East Nigeria, asserts the ‘audacious structural reforms’ of President Bola Ahmed Tinubu’s administration has ‘rescued the economy from the tipping point’

Gbenga Kayode | 绿帽献妻

Governor (Prof.) Charles Chukwuma Soludo of Anambra State聽 has lauded President Bola Ahmed Tinubu鈥檚 administration for what he called its 鈥渁udacious鈥� structural reforms that have prevented the economy from total collapse.

绿帽献妻 gathered Governor Governor Soludo stated this Thursday, June 12, 2025, while speaking at The Platform, a special Democracy Day edition organised by The Covenant Nation in Lagos.

The forum was organised as part of activities marking Nigeria鈥檚 Democracy Day June 12 this year.

President Bola Ahmed Tinubu, GCFR

The governor, who is a former Governor of the Central Bank of Nigeria (CBN), applauded Tinubu’s administration鈥檚 bold economic decisions, which he said have stabilised a dangerously deteriorating economy, Channels TV report said.

Underscoring the fact that the current administration’s reforms have redirected the Nigerian economy on the right path, the Anambra State Governor also said: 鈥淚鈥檇 disappoint many who would expect me to comment harshly on the economy, or offer yet another blueprint for economic reforms.

鈥淚鈥檓 not shy to say this: the audacious structural reforms embarked upon by the current administration of President Bola Tinubu have rescued the economy from the tipping point.”

On World Bank, IMF, Moody’s, FT’s endorsements of reforms

Highlighting the global recognition Nigeria has garnered in regard to the administration’s reforms, Governor Soludo said: 鈥淭he endorsement by the World Bank, the IMF, the London Financial Times, and more in Nigeria is well deserved.”

Soludo further acknowledged that he had previously rejected World Bank’s loans due to unfavourable terms, but affirmed that the global institutions were correct in their assessment of Nigeria鈥檚 current reform path.

The governor explained: 鈥淥n the matter of the trajectory of the current economic reforms, the World Bank and others, in my view, are largely right.

鈥淲hen these institutions criticise the government, some people use them as validation of their own criticism.

“But when the same institutions give a positive report, they are derided as 鈥榥eoliberal, out-of-touch鈥� institutions. We can鈥檛 have it both ways.鈥�

It should be noted that President Tinubu, since assuming office May 29, 2023, has implemented significant economic changes, including the removal of petrol subsidies and the unification of multiple Foreign Exchange (Forex) windows.

As the administration’s policies have drawn criticisms for pushing inflationary trend in terms of high energy costs, transportation fares, and food prices, other Nigerians have argued the reforms are long overdue and necessary for long-term, sustainable growth.

Nigerian economy ‘breathes again,鈥� says Prof. Soludo

In his address at the event Thursday, in Lagos, Soludo as well referenced the controversial removal of subsidies and unification of the Foreign Exchange rate as part of聽 consequential steps that have made the economy to 鈥渂reathe again.鈥�

He stated: 鈥淚f we didn鈥檛 do the kind of subsidy removal and deal with the exchange rate issues, we would have reached a point where the economy was just standing still.

“We couldn鈥檛 move any further. We needed fundamental rejigging for it to begin to breathe again 鈥� and thank God, at least, we are here.”

Acknowledging that the journey is far from over, the Anambra Governor urged the Tinubu administration to stay the course and continue pushing the frontiers of development in the West African country.

He further said: 鈥淭here is still a lot more to do, but I urge the President and his team to steer the course.

“Many analysts have interesting opinions and quotes, but I urge them to go deeper, with rigorous, factual analysis, and to provide credible alternatives.”

The event attracted several high-profile attendees, including Prof.聽 Attahiru Jega, ex-INEC Chairman; former Minister for Works and Housing Babatunde Fashola; State Governors, as well as other national figures.

Kindly Share This Story