Soludo: Tinubu rescued economy from tipping point, returned public finance to solvency

Tinubu

By JAMIU JAMODU

Governor Chukwuma Soludo of Anambra State has declared that President Bola Tinubu’s administration salvaged Nigeria’s public finances from the brink of collapse.

In an address delivered on June 12 at The Platform Nigeria, hosted by Pastor Poju Oyemade and The Covenant Nation, Governor Soludo praised President Tinubu’s economic reforms. He called for a nationwide ethical and ideological rebirth to drive sustainable national development.

Speaking on the theme “Rebuilding Our Nation,” Soludo urged political parties across the country to unite along ideological lines as a first step toward a new, issue-based political culture.

“The audacious structural reforms embarked upon by the current administration of HE Bola Ahmed Tinubu have rescued the economy from the tipping point.

“The endorsements by the World Bank, IMF, London Financial Times, rating agencies—Fitch, Moody’s, are well deserved.

“Many people know that I made a living criticising the World Bank and the IMF. As Governor of Anambra, I have even rejected a World Bank loan because of the terms. On the trajectory of the current economic reforms, the World Bank, etc, are largely right. Funny enough, when these institutions criticise the government, some people use them to validate their criticisms, but when the same institutions give a positive report, they are derided as “neoliberal, out-of-touch institutions”.

“In 2023, I had described the state of the economy when this government assumed office as akin to a standing dead horse, and public finance was about to tip from solvency, with potentially catastrophic consequences, including possible mass retrenchment of workers and/or arrears of salaries and pensions. Public finance is back on a solvency path, and macro fundamentals are recovering positively,” Soludo said.