Soludo: Nigeria undergoing reset due to petrol subsidy removal

Chukwuma Soludo, governor of Anambra state, says Nigeria is experiencing a disruptive reset after President Bola Tinubu removed the petrol subsidy.

Soludo spoke in Abuja on Thursday at the 13th convocation lecture of Veritas University titled ‘Let us make a new deal for Nigeria’.

The governor said the country needs a shift from subsidies that benefit only the elite to a productive social contract that creates opportunities for all.

He highlighted “positive signs” such as the minimum wage legislation, the draft tax reform bill, and planned cash transfers.

He called for historic coordination between federal and state governments to ensure swift implementation of the reforms.

Soludo noted that while Nigeria has ended the harmful petrol, foreign exchange, and electricity subsidies, the federal government must craft an emergency national infrastructure plan.

“We have entered a muddling-through phase that requires careful navigation,” he said.

He urged Nigerians to craft a pragmatic new deal for the country and an emergency national infrastructure plan, similar to the US marshal plan used to rebuild Europe after World War II.

Soludo advised the graduates to create value for themselves and the country to enable them to navigate the larger 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 added.

On his part, Hyacinth Ichoku, vice-chancellor of Veritas University, thanked Soludo for his commitment to youth education.

Ichoku reiterated the university’s dedication to delivering quality education and fostering strong moral values.