ABUJA — Anambra State Governor Prof. Chukwuma Soludo has stated that Nigeria is experiencing a fundamental and disruptive transformation following the removal of subsidies by President Bola Tinubu. Soludo shared this perspective while delivering the 13th convocation lecture at Veritas University on Thursday.
Titled ‘Let Us Make a New Deal for Nigeria’, the lecture delved into the nation’s pressing challenges and potential solutions. Soludo underscored the necessity of transitioning from subsidies that largely benefited urban elites to a more inclusive social contract aimed at creating widespread opportunities.
Soludo highlighted that the removal of fuel, foreign exchange, and electricity subsidies marks the beginning of a difficult yet necessary transition period for Nigeria. “We have entered a ‘muddling-through’ phase that requires careful navigation,” he stated.
Reflecting on the past, the governor acknowledged that military regimes during Nigeria’s early oil boom years made significant investments in education. However, he stressed the importance of building a pragmatic new deal for Nigeria, proposing a national emergency infrastructure plan modeled after the United States’ Marshall Plan, which revitalized Europe following World War II.
Soludo urged Nigerian leaders to adopt public works initiatives, financial reforms, and regulatory changes inspired by the Marshall Plan to transform the nation’s socio-economic landscape. He pointed to the introduction of minimum wage legislation, the draft tax reform bill, and plans for cash transfers as positive steps forward.
For meaningful progress, Soludo called for unprecedented coordination between federal and state governments to accelerate the implementation of reforms.
Addressing graduating students, Soludo encouraged active engagement in shaping the country’s future. “The future you seek is in your hands. Only those who plan can control the future,” he said, emphasizing that while the nation may not have given them much, they are expected to give back more in return.
