‘Nigeria’s economy has stabilised, I haven’t borrowed a dime’ – Soludo

Governor Charles Soludo of Anambra State has said his administration has not borrowed any money since he assumed office, stressing that prudent management of resources can drive development without piling up debts.

Soludo made the remark on Monday while speaking at the Delta State Economic and Investment Summit, where he also expressed optimism about Nigeria’s economic outlook.

According to the former Governor of the Central Bank of Nigeria, CBN, the country’s economy has stabilised and is gradually recovering.

“Nigeria has stabilised and is on the rise. I haven’t borrowed a dime since I became governor,” Soludo said.

The governor maintained that state governments could achieve meaningful development through disciplined financial management rather than excessive borrowing.

He also urged Nigerians to support locally made products, arguing that the country’s dependence on imported goods continues to limit job creation and industrial growth.

“We cannot create the kind of jobs we want with all of us using foreign or imported goods,” he said.

Soludo noted that many Nigerians, including those in positions of influence, still rely heavily on foreign-made items.

“I look in this room, and I see suits from Europe, America and China,” he added.

The Anambra governor estimated that embracing locally manufactured goods, particularly clothing and textiles, could generate millions of jobs across the country.

“If all 247 million Nigerians wear only made-in-Nigeria, more than 10 million jobs will be created,” Soludo stated.

He reiterated his long-standing support for local industries, saying increased patronage of Nigerian-made products would boost production, create employment opportunities and strengthen the economy.