Soludo Says Nigeria’s Economy Has Stabilised, Urges Support for Local Products
Anambra State Governor, Prof. Chukwuma Soludo, says Nigeria’s economy has begun to recover and is now on the path to sustained growth.
Speaking at the Delta State Economic and Investment Summit, the former Governor of the Central Bank of Nigeria said recent economic reforms have helped stabilise the country, expressing confidence that the nation has moved past its most difficult period.
“Nigeria has stabilised and is on the rise. I haven’t borrowed a dime since I became governor,” Soludo said.
He noted that his administration has continued to deliver infrastructure and development projects without taking new loans, stressing that responsible financial management is more important than excessive borrowing.
According to him, state governments can achieve meaningful development by managing available resources wisely and spending within their means.
Soludo acknowledged that economic reforms often come with short-term challenges but said the country is beginning to see positive results. He urged governments at all levels to remain committed to policies that encourage investment, improve productivity and drive inclusive economic growth.
The governor also appealed to Nigerians to support locally made products, warning that the country’s heavy dependence on imported goods continues to hurt local industries and reduce job opportunities.
“We cannot create the kind of jobs we want if we keep relying on imported goods,” he said.
He expressed concern that many influential Nigerians still prefer foreign-made products, arguing that such habits weaken domestic manufacturing and slow industrial development.
Soludo called on individuals, businesses and government institutions to patronise Nigerian-made products, saying stronger support for local industries would boost production, expand businesses, create jobs and strengthen the economy.
The Delta State Economic and Investment Summit brought together government officials, investors, business leaders and development partners to discuss ways to attract investment, improve the business environment and accelerate economic growth in Nigeria.
