Anambra State has witnessed steady economic growth, though slow, for a long time. Advantaged due to its role as the pathway to Eastern Nigeria, and having an enterprising huge population, the state has done considerably well in its economic growth. The focus of the state on this growth is on commerce and trade.
In 2022, Charles Soludo took charge of the state government with huge excitement by the citizens. With him, there is hope that the fortunes of the state will turn around. However, the fortunes of the state hasn’t really been bad (according to economic stats), but then there was need for improvement.
Having gotten into power and spending a considerable amount of time, can Soludo really turn around the fortunes of the state?
Biography of Charles Soludo
Charles Soludo is from Isuofia in the present-day Aguata Local Government area of Anambra State. He was born and raised in Anambra State, mostly growing the city of Onitsha.
After finishing his primary and secondary school education, he proceeded to the University of Nigeria, Nsukka, where he made First Class in Economics. He also got his Master’s degree and PhD in the same university. He won best student awards at the different levels of his studies in the school.
Soludo was a lecturer in the university before he was appointed as an economic adviser by the President Olusegun Obasanjo’s administration. From adviser, he moved to become the Central Bank governor. As the CBN governor, he implemented lots of changes in the bank that saw a great reform and growth of the banking industry.
He contested severally to become the Governor of Anambra State before he won in a free and fair election in 2021. He has since assumed office.
Charles Soludo’s net worth is around $20 million. He is married with six children.
Charles Soludo’s Economic Blueprint for Anambra
Soludo during his campaign and his inauguration promised to change the economic fortunes of the state by implementing important policies to spur growth. Some of these policies are:
Encouraging frugality in governance by spending the state’s resources on only vital infrastructure, and reducing governance cost by cutting off uneccesary expenditure.
Focus on urban renewal development, especially looking into eradicating slums in Onitsha. This will be done by cleaning up the main cities, widening and building of roads, and restoring normalcy security-wise.
Investing heavily in education by making it a private public partnership. This will be done by the government investing, reforming, and equipping the schools with quality teachers and infrastructure. Then, wealthy individuals encouraged with “adopt a school today” policy. Already, his government has gone ahead to do teachers’ recruitment and relieving of duties of the incompetent ones.
On agriculture, he promises to focus on developing cash crop cultivation in the state with a focus on boosting “oil palm production” in the state. There will be provision of millions of oil palm seedlings to the rural population before the end of his tenure. In addition, his administration will improve road access in the rural access to encourage the rural and agrarian economy.
Increasing and optimizing revenue generation. The ineffective revenue generation employed by the previous government will be scrapped. He states that it encourages waste. He will digitize and unify the process improving transparency. Thus, revenue generated by the state is expected to grow.
He also made other promises like equipping the hospitals, encouraging trade and investment, and replanning and modernising Awka and Onitsha.
Anambra State Economy from 2022 to 2030 judging by Soludo’s Economic Blueprint
This is what you are to expect if Soludo achieves 50% of what he promised the people:
The state’s revenue generation will double within the years in view. With more transparency in revenue generation and its digitization, expect an over 100% increase in the revenue of the state. If you are a business owner, you are to expect mandatory taxation.
Expect a total and complete set up of urban areas like Onitsha, Awka, Ekwulobia, and so on. Onitsha will take a major hit and there will be reconstruction of some major roads. Awka, too, will see a facelift from what it used to be. This will create a better ease of doing business.
The provision of seedlings or cash crop to the rural areas will increase Anambra’s GDP by 10% to 15% in the next 15 years. Millions of palm trees and other cash crops will enrich and elevate the income level of the rural areas. More amenities would be provided in the rural areas as well like roads, and many more.
Anambra will retain it enviable position and status in quality and good education. It will even become better. You are to expect fight on malpractice, and high focus on clean quality education.
More businesses will have confidence in the state government and invest in the state. Community and aggressive policing will improve the security in the state. The standard of living of the people will continue to improve.
Soludo is not a newcomer to administration and economy building. He will surely see to the continuous growth of Anambra. Coming at a time when restructuring will lead to more autonomy in the state, citizen expect the very best from him.
About the Writer
Bolekaja Alika is a full-blooded Nigerian. Writing what you don’t like is his hobby.