Governor Chukwuma Soludo of Anambra State has declared that President Bola Ahmed Tinubu’s administration rescued Nigeria’s economy from near-total collapse and restored public finances to a path of solvency through bold structural reforms.
Speaking at The Platform Nigeria, a high-level national discourse hosted by Pastor Poju Oyemade of The Covenant Nation to commemorate Democracy Day on June 12, Governor Soludo offered a rare, emphatic endorsement of the Tinubu administration’s economic direction. He described the economic situation inherited in 2023 as that of a “standing dead horse,” teetering on the edge of catastrophe.
“The audacious structural reforms embarked upon by the current administration of HE Bola Ahmed Tinubu have rescued the economy from the tipping point,” Soludo said.
The former Central Bank Governor cited commendations by global institutions—including the World Bank, International Monetary Fund (IMF), Financial Times of London, and credit rating agencies Fitch and Moody’s—as proof that the president’s reforms were achieving positive momentum. He challenged critics who dismiss positive foreign reviews while embracing critical ones for political convenience.
“In 2023, I described the state of the economy as akin to a standing dead horse. Public finance was about to tip from solvency, with potentially catastrophic consequences. Now, public finance is back on a solvency path, and macro fundamentals are recovering positively,” Soludo stated.
While hailing Tinubu’s economic leadership, Soludo called for a deeper national rebirth, urging political actors and citizens to realign around a new ideological and ethical foundation that supports sustainable development.
Ideological Renewal and Civic Responsibility
Governor Soludo, also the national leader of the All Progressives Grand Alliance (APGA), pushed for a nationwide value reorientation, describing Nigeria’s greatest challenge as a cultural drift that rewards shortcuts over hard work.
“We must deliberately create a critical mass of ‘new Nigerians’—who believe in her and are ready, if necessary, to die for her,” Soludo said. “No nation has prospered without a patriotic, vigilant and actively participatory citizenry.”
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He warned that the nation’s current cultural climate—where wealth without work is celebrated—promotes “transactional governance” and undermines transformational leadership. He proposed legislation, education, and media campaigns to reverse what he termed the glorification of magical wealth and dishonesty.
Investing in the People
To address Nigeria’s long-term development, Soludo pointed to youth-focused initiatives such as the Federal Government’s NELFUND student loan scheme and Anambra’s “One Youth, Two Skills” program. He noted that these were strategic investments designed to turn Nigeria’s youth into stakeholders in national progress.
“The shortest answer is to give the citizens stakes in the society by investing in their future,” he said. “These programs excite the youths and could hopefully create ‘stakeholders’ in future projects.”
Nation-Building Beyond the Economy
Soludo urged political parties to unite along ideological lines and focus on national transformation. He stressed that while structural reforms—ranging from constitutional changes to infrastructure and anti-corruption—are necessary, their success depends on values-driven leadership and citizen participation.
“We must intentionally promote ethical-value rebirth. This is a national emergency requiring urgent national conversation,” the governor concluded.
The remarks, delivered on the 31st anniversary of the June 12, 1993, election, mark one of the strongest public endorsements yet from a key opposition-leaning figure for President Tinubu’s administration.