Anambra State Governor, Prof. Chukwuma Soludo, has credited President Bola Tinubu’s economic reforms with rescuing Nigeria from the brink of economic collapse.
Speaking during The Platform, a Democracy Day event organised by Pastor Poju Oyemade of The Covenant Nation in Lagos, Soludo said the structural reforms initiated by the Tinubu administration were timely and necessary.
“I’m 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,” Soludo said.
According to him, the removal of fuel subsidies and the unification of Nigeria’s multiple foreign exchange windows were crucial in averting economic paralysis. “If we didn’t remove the subsidy and address the FX regime, the economy would have been at a standstill. These reforms have allowed it to breathe again,” he stated.
The former Central Bank Governor also acknowledged the positive assessments by international financial institutions, such as the World Bank and the International Monetary Fund (IMF), regarding the direction of Nigeria’s reforms.
“The endorsements by the World Bank, IMF, Financial Times, and rating agencies like Fitch and Moody’s are well deserved,” he said, adding that while he has historically criticised global financial institutions, he agrees with their current outlook on Nigeria’s economic trajectory.
As Governor of Anambra, Soludo revealed he had even rejected a World Bank loan over unfavourable terms, but maintained that on the current economic path, the global bodies are “largely right.”
On his leadership role, Soludo said he chose to serve because of his commitment to finding solutions, not complaining. “I applied for my current job because I believe I can join millions of Nigerians in the search for solutions—not lamentations,” he said.
He maintained an optimistic view of Nigeria, saying: “I see the Nigerian cup as half full, not half empty. I carry my Nigerianness with pride—in my heart and in my dress. Yes, we still have a long way to go, but we must also appreciate how far we’ve come.”
Nzubechukwu Eze
