Governor Soludo Calls For Inclusive Economic Reforms Post-Fuel Subsidy Removal In Nigeria

Anambra State Governor Chukwuma Soludo said Nigeria was going through a major change after President Bola Tinubu ended the petrol subsidy.

Speaking at Veritas University's 13th convocation lecture in Abuja, titled "Let Us Make a New Deal for Nigeria," Soludo explained that the country needed to move away from subsidies that mostly benefit the elite.

Instead, he called for a new social approach that created opportunities for everyone, before pointing out "positive signs" in Nigeria, including new minimum wage laws, a draft tax reform bill and planned cash transfers, Punch reported.

Soludo also emphasized the importance of strong coordination between federal and state governments to quickly put these reforms into action.

He mentioned that even though Nigeria has ended subsidies on petrol, foreign exchange, and electricity, the federal government should develop an urgent national infrastructure plan.

He compared this to the U.S. Marshall Plan, which helped rebuild Europe after World War II, stressing that Nigeria was in a challenging phase that needed careful guidance.

The governor encouraged graduates to focus on creating value for themselves and the country, preparing them for success in the wider society.

"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," the governor said, Punch reported.

Veritas University Vice-Chancellor Hyacinth Ichoku, who also spoke at the event, thanked Governor Soludo for his dedication to youth education. He reaffirmed the university's commitment to providing quality education and promoting strong moral values among students.

Nigerians were currently going through a tough phase, as after Tinubu took over the office on May 29, last year, he announced fuel subsidy removal, causing increased fuel and food prices across the country.

Earlier this year, the president acknowledged the economic crisis and took "full responsibility" for the situation, noting that the country will survive the current economic challenges.

Tinubu admitted that, at this moment, his government doesn't have all the answers, but noted that his administration should not be blamed for trying to help make Nigeria a better place to live. He assured all Nigerians that his administration was doing its best to ensure a great economic future for the country.