Governor Chukwuma Soludo of Anambra State has commended President Bola Ahmed Tinubu for pulling Nigeria’s economy back from the brink of collapse, crediting his administration with restoring public finance to a path of solvency.
Speaking at The Platform Nigeria event on June 12, hosted by Pastor Poju Oyemade and The Covenant Nation, Prof Soludo said Tinubu’s “audacious structural reforms” had rescued Nigeria from economic disaster.
“The economy was at a tipping point when this administration assumed office in 2023,” Soludo declared. “Public finance was heading towards insolvency, with looming threats of mass retrenchments and unpaid salaries and pensions. But today, macroeconomic fundamentals are recovering, and public finance is back on a solvency path.”
The professor of economics cited endorsements by global financial institutions such as the World Bank, International Monetary Fund (IMF), and global rating agencies like Fitch and Moody’s as evidence that the reforms are gaining traction. Noting his past criticism of such institutions, Soludo said their current assessments were largely correct.
“Funny enough, when these institutions criticise the government, people use them to validate their views. But when they offer praise, they are dismissed as neoliberal or out-of-touch,” he added.
In a wide-ranging address themed “Rebuilding Our Nation,” the former Central Bank of Nigeria (CBN) governor called for an ideological and ethical reset in Nigeria’s political and civic culture. He said the path to a truly developed Nigeria must include reforms beyond the economy, including a focus on values, leadership character, and the mindset of citizens.
“We must deliberately create a critical mass of ‘new Nigerians’ who believe in the country and are willing, if necessary, to die for her,” he said. “No nation prospers sustainably without a patriotic, vigilant, and active citizenry.”
Soludo decried what he described as a cultural rot that celebrates wealth without work and unearned riches, saying such a mindset fuels transactional politics and undermines transformational leadership.
“In a society where no one asks about the source of wealth, and where free money is expected or glorified, governance becomes transactional,” he warned.
He pointed to federal and Anambra state initiatives aimed at empowering youth and restoring hope, including the NELFUND student loan scheme and Anambra’s One Youth, Two Skills programme, as steps in the right direction.
“These investments in education, healthcare, and skills development offer young Nigerians a stake in the future,” Soludo said. “They could foster a generation of stakeholders who will drive national development.”
The governor concluded by calling for a national conversation around a values-driven, ideological reordering of Nigeria’s political space.
“This is a national emergency,” he said. “We must intentionally promote ethical rebirth and break the vicious cycle of ‘something for nothing.’”
The event was part of the June 12 Democracy Day reflections and drew political, civic, and business leaders from across the country.