Tinubu’s Bold Reforms Saved Nigeria from Economic Collapse – Gov. Soludo Declares

Anambra State Governor, Professor Chukwuma Soludo, has commended the economic policies of President Bola Ahmed Tinubu, declaring that his administration’s reforms averted the total collapse of Nigeria’s economy.

Speaking at The Platform, a Democracy Day event hosted by Pastor Poju Oyemade of The Covenant Nation in Lagos, Soludo emphasized that the Tinubu-led government had taken decisive and necessary steps that resuscitated the nation’s struggling economy.

“I am not hesitant to state it clearly: the bold structural reforms introduced by President Tinubu’s administration rescued the Nigerian economy from a critical tipping point,” Soludo declared.

He explained that without key interventions like the removal of the petrol subsidy and the unification of the foreign exchange windows, the economy would have ground to a halt.

“The petrol subsidy had become unsustainable, and the multiple exchange rate regime was crippling our capacity to grow. The reforms allowed the economy to breathe again. We had reached a point where forward movement was impossible without urgent and foundational changes. Thankfully, those changes were made,” he said.

The former Central Bank Governor also acknowledged international endorsements of Tinubu’s policies, stating that key global financial institutions and rating agencies were correct in their assessment of the current trajectory of Nigeria’s economy.

He said, “The endorsements by the World Bank, the IMF, the London Financial Times, and credit rating agencies like Fitch and Moody’s are well merited. I say this as someone who once made a career out of criticizing these institutions. As Governor of Anambra State, I have even turned down a World Bank loan due to unfavorable terms. But on this occasion, their judgment on Nigeria’s reform path is largely accurate.”

Reflecting on his own responsibilities as governor, Soludo noted that he chose the role not for prestige but to contribute to the national search for real solutions to the country’s challenges.

“I applied for this job because I wanted to be part of the solution, not just another voice of lamentation. I proudly wear my Nigerianness, and I believe deeply in our future. Yes, we have a long journey ahead, but we must also recognize the strides we’ve made,” he concluded.