Governor Chukwuma Soludo of Anambra State has said Nigeria is currently undergoing a devastating reset with the abolition of subsidies by President Bola Tinubu.
Mr. Sordo emphasized the importance of moving from subsidies that primarily benefit elites to a productive social contract that creates opportunities for everyone.
He shared his thoughts at the 13th Convocation Lecture of Veritas University in Abuja on Thursday.
The talk, titled “Let’s Forge a New Deal for Nigeria,” explored ways to address the country’s challenges.
He explained that the country has abolished harmful fuel, foreign currency and electricity subsidies.
“We have entered a 'difficult' phase that requires careful navigation,” Sordo said.
The governor further recalled that he had benefited from free and quality education at primary, secondary and university levels, including subsidized meals at public universities, until government funding became unsustainable.
He acknowledged that the military regime invested in education during Nigeria’s early oil boom, despite other issues.
Soludo urged Nigerians to develop a pragmatic new deal for the country, as well as an emergency national infrastructure plan similar to the US Marshall Plan used to rebuild Europe after World War II. I urged them to do so.
He encouraged Nigeria’s leaders to draw inspiration from the Marshall Plan to implement public works, financial reforms and regulatory changes that could transform the country.
He also highlighted positive signs such as minimum wage legislation, tax reform legislation and planned cash transfers.
He called for historic coordination between the federal and state governments to ensure swift implementation of these reforms.
Mr Sordo urged the graduates to actively contribute to the future of the country.
“The future you seek is in your hands. Only those who plan can control the future, Nigeria may not have given much, but it is expected to give more than it has received. ” he said.
