Anambra, Delta Must Turn Economic Gains Into Investment, Jobs — Soludo

By Our Correspondent

Nigeria’s economic recovery is opening a new window for investment, but Governor Chukwuma Soludo says the real test is no longer about economic promises. It is about turning improved economic stability into factories, businesses, jobs and better lives for Nigerians.

Anambra and Delta states have been urged to leverage Nigeria’s improving macroeconomic stability, stronger foreign exchange position and investment opportunities to attract capital, create jobs and reduce poverty. Governor Chukwuma Soludo said stronger economic cooperation between both states, alongside increased patronage of Made-in-Nigeria goods, could accelerate regional development.

Anambra State Governor, Chukwuma Soludo, has urged Anambra and Delta states to deepen economic cooperation and turn Nigeria’s improving economic conditions into real investment, jobs and better living standards for citizens.

Soludo made the call at an economic summit in Delta State, where he said Nigeria had moved from a period of severe economic instability to greater macroeconomic stability.

He said the progress should now be converted into tangible economic benefits for Nigerians, particularly through increased investment, local production and job creation.

According to the governor, Nigeria’s stronger foreign exchange position and improved exchange-rate stability have created a more favourable environment for both domestic and foreign investors.

Soludo also disclosed that he had not borrowed money for Anambra State since assuming office. He added that the state withdrew from the World Bank-supported NG-CARES programme because of concerns about exchange-rate distortions and the possible cost of foreign-denominated financing.

However, he said the economic conditions that informed the decision had changed significantly, noting that Nigeria’s foreign exchange reserves are now substantially higher than they were in 2023.

The governor said the improvement had also helped reverse the massive capital flight previously experienced by the country.

He therefore urged states and other sub-national governments to position themselves to benefit from the emerging investment opportunities.

Soludo: Anambra, Delta Must Work Together

Soludo, however, warned that sustainable economic transformation could not be achieved by individual states working in isolation.

Describing Anambra and Delta as “twin cities” with economic links comparable to New York and New Jersey, he called for stronger cooperation between the neighbouring states.

He said Anambra was developing an economic free-trade zone powered by an aerotropolis. According to him, stronger cooperation with Delta could unlock major economic opportunities for both states.

“What follows this summit is what truly matters, the actual deals,” Soludo said.

He urged participants to ensure that investment commitments made at the summit translated into concrete projects, businesses and jobs.

Soludo Pushes Made-in-Nigeria Products

The Anambra governor also called for a national, consolidated development plan that would build on Nigeria’s macroeconomic gains while tackling unemployment and poverty.

He stressed that Nigerians must increasingly patronise locally made goods because dependence on imported products could weaken efforts to create jobs.

Using the Akwete fabric he wore as an example, Soludo said his decision to make the indigenous textile part of his regular dressing had helped support the livelihoods of women weavers in Akwete.

He said wider patronage of Nigerian-made products could create millions of jobs across the country.

“If all of us commit to wearing only Made-in-Nigeria goods, more than 10 million jobs will be created,” he said.

Soludo also referred to a recent N2 billion commitment to support Akwete production, saying such interventions could expand local manufacturing, increase household incomes and preserve Nigeria’s indigenous industries.

He urged governments, businesses and citizens to make investment and local production a sustained national habit rather than activities reserved for economic summits and special events.