Anambra State Governor, Prof. Chukwuma Soludo, has described Nigeria as undergoing a “fundamental and disruptive reset” following President Bola Tinubu’s removal of subsidies.
Speaking on Thursday during Veritas University’s 13th convocation lecture in Abuja, Soludo’s address, titled “Let Us Make a New Deal for Nigeria,” delved into strategies for addressing Nigeria’s complex challenges.
Soludo pointed to the subsidy removal, emphasizing the need to shift from subsidies, which he said mostly benefited the urban elite, towards a productive social contract that promotes opportunities for all. He highlighted that Nigeria has ended harmful subsidies on fuel, foreign exchange, and electricity, stating, “We have entered a ‘muddling-through’ phase that requires careful navigation.”
Reflecting on Nigeria’s history, Soludo acknowledged past military regimes’ investments in education during the country’s early oil boom years. He encouraged Nigerians to pursue a practical “new deal” for the country, advocating for an emergency national infrastructure plan akin to the United States’ Marshall Plan, which was instrumental in rebuilding Europe after World War II.
Soludo called on Nigerian leaders to adopt principles from the Marshall Plan, implementing public works projects, financial reforms, and regulatory changes that could drive national transformation.
He highlighted recent positive developments, including minimum wage legislation, a draft tax reform bill, and planned cash transfers, as promising steps.
He further emphasized the importance of coordinated efforts between federal and state governments to ensure swift implementation of these reforms.
Addressing the graduating students, Soludo urged them to actively shape Nigeria’s future, saying, “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 encouraged them to contribute to shaping the nation’s destiny, underscoring the pivotal role of active, committed citizens in Nigeria’s journey forward.
