*Governor (Prof.) Charles Chukwuma Soludo of Anambra State, lauds President Bola Ahmed Tinubu administration’s ongoing economic reforms, stating ‘public finance is back on a solvency path, and macro fundamentals are recovering positively’

Gbenga Kayode | 绿帽献妻

Governor (Prof.) Charles Chukwuma Soludo of Anambra State, South-East Nigeria, has declared that President Bola Ahmed Tinubu’s administration salvaged the West African country’s public finances from the brink of collapse when he assumed the Presidency.

绿帽献妻 reports Governor Soludo stated this in his address titled, “Rebuilding Our Nation”, delivered on June 12 at The Platform Nigeria, an event hosted by Pastor Poju Oyemade and The Covenant Nation, in Lagos.

The Anambra State Governor also applauded Tinubu’s ongoing economic reforms.

He solicited a nationwide ethical and ideological rebirth to drive sustainable national development in Nigeria.

The governor further urged political parties across the country to unite along ideological lines as a first step towards a new, issue-based political culture in governance.

On state of Nigerian economy

Soludo asserted: “The audacious structural reforms embarked upon by the current administration of H.E. Bola Ahmed Tinubu have rescued the economy from the tipping point.

“The endorsements by the World Bank, IMF, London Financial Times, rating agencies鈥擣itch, Moody’s, are well deserved.”

He noted: “Many people know that I made a living criticising the World Bank and the IMF.

“As Governor of Anambra, I have even rejected a World Bank loan because of the terms.

“On the trajectory of the current economic reforms, the World Bank, etc, are largely right.”

Underscoring importance of appreciating the current administration’s reforms for Nigeria’s future, Governor Soludo said: “Funny enough, when these institutions criticise the government, some people use them to validate their criticisms, but when the same institutions give a positive report, they are derided as ‘neoliberal, out-of-touch institutions’.

“In 2023, I had described the state of the economy when this government assumed office as akin to a standing dead horse, and public finance was about to tip from solvency, with potentially catastrophic consequences, including possible mass retrenchment of workers and/or arrears of salaries and pensions.

“Public finance is back on a solvency path, and macro fundamentals are recovering positively.”

Acknowledging the broad spectrum of expert opinions on Nigeria’s economic outlook in his address, Soludo as well urged public commentators to adopt a more rigorous, evidence-based approach to economic critique.

He averred: “Many analysts have interesting ‘opinions’, but I urge them to go deeper: conduct rigorous counterfactual analysis and provide credible alternatives!

“As a friend said recently, the task is always easy, especially if you are not the one doing it.”

Recognising that the list of proposed national reforms, from constitutional restructuring and security to infrastructure and anti-corruption, is extensive, Soludo, who is a former CBN Governor, emphasised that the critical issue is how to implement such reforms effectively within a resource-constrained and unequal society.

On restoration of national character, values and industry among Nigerians

Governor Soludo, who is also the leader of the All Progressives Grand Alliance, opined that Nigeria’s future rests on the character and values of its citizens, not just leadership.

He, therefore, urged a nationwide ethical renewal and strategic investment in the Nigerian people to inspire patriotism and selfless service.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement, also quoted Soludo to have said: “We must deliberately create a critical mass of ‘new Nigerians’鈥攚ho believe in her and are ready, if necessary, to die for her.

“The struggle for liberation from colonialism would not have been possible without the nationalists of the time, and the current struggle to liberate her from underdevelopment cannot be sustainable with ‘neo-nationalists’ of today.”

The governor noted: “No nation has prospered sustainably without a critical mass of patriotic, vigilant and actively participatory citizenry.”

He equally lamented the erosion of Nigeria’s traditional values of hard work, integrity, and enterprise.

The governor warned against a growing national culture that glorifies unearned wealth and shortcuts to success.

He stated: “The ‘culture’ that celebrates and expects something for nothing or wealth without work must give way to a culture that rewards and celebrates hard work, enterprise and integrity.

“In a society where no one asks/cares about sources of livelihood or where most people expect and celebrate unearned/free money, transactional governance will always trump transformational leadership.”

鈥楪overnment initiatives are foundational investments鈥�

Soludo as well pointed to recent Federal and Anambra State Government initiatives as foundational investments that could foster a new generation of patriotic citizens.

According to him, these include the Federal Government’s NELFUND student loan scheme, Anambra’s One Youth, Two Skills programme, and increased spending on free education and healthcare.

Soludo asserted: “The shortest answer is to give the citizens stakes in the society by investing in their future鈥�.

“These programmes excite the youths/students and could hopefully create ‘stakeholders’ in future projects.”

Advocating national effort at combating widespread beliefs in magical wealth, Prof. Soludo emphasised this mindset must be legislated against, tackled through education, and countered through cultural influence, particularly in the media.

He explained: “It is my thesis that a society where no one asks/cares about sources of livelihood or where most people expect and celebrate unearned/free money is one where transactional governance will always trump transformational leadership.”

He stressed the need for unity around progressive values and the ideological realignment of Nigeria’s political order.

The governor said: “We must break this vicious ‘culture’ and intentionally promote ethical-value rebirth.

“This is a national emergency requiring urgent national conversation.”

Kindly Share This Story