Nigeria Faces Challenging Reset Soludo Says As Subsidy Removal Shifts National Dynamics

Nigeria Faces Challenging Reset Soludo Says As Subsidy Removal Shifts National Dynamics

Chukwuma Soludo, Governor of Anambra State, has stated that Nigeria is undergoing a significant transformation due to President Bola Tinubu’s removal of subsidies. He emphasized the necessity of shifting away from subsidies that primarily benefit the elite and moving towards a more inclusive social contract that provides opportunities for all…CONTINUE READING…

Soludo shared his perspective during the 13th Convocation Lecture at Veritas University in Abuja on Thursday, where he discussed solutions for Nigeria’s challenges. The lecture, titled “Let Us Make a New Deal for Nigeria,” examined strategies to address the nation’s pressing issues.

He explained that the country has now ended harmful subsidies on fuel, foreign exchange, and electricity, entering what he described as a “muddling-through” phase that requires careful management.

The governor also reflected on how he personally benefited from free and quality education at the primary, secondary, and university levels, alongside subsidized meals in public universities, until government funding became unsustainable. He recognized the contributions made by military regimes in investing in education during Nigeria’s early oil boom.

Soludo called for the creation of a pragmatic new deal for Nigeria and suggested an emergency national infrastructure plan, drawing inspiration from the U.S. Marshall Plan that helped rebuild Europe after World War II. He urged Nigerian leaders to use this model to implement large-scale public works projects, financial reforms, and regulatory changes aimed at transforming the country.

The governor also pointed to positive developments, including the introduction of minimum wage legislation, a draft tax reform bill, and planned cash transfers. He called for historic coordination between the federal and state governments to ensure the swift implementation of these reforms.

Soludo encouraged the graduating students to take an active role in shaping the nation’s future. “The future you seek is in your hands. Only those who plan can control the future. While Nigeria may not have given you much, you are expected to give more than you have received,” he said.