By Ebuka Onyekwelu, PhD
Anambra State Governor, Professor Charles Chukwuma Soludo, has challenged Nigerians to take collective responsibility for the country’s economic future, insisting that national development requires patriotism, local production and sustained collaboration between the Federal Government and state governments.
Soludo made the call on Monday in Abuja while speaking at the 32nd Nigeria Economic Summit, themed “Growth That Works: Building a New Economic Accord for Nigeria.” He stressed that the time had come to move beyond policy declarations to practical actions that would make economic growth beneficial and sustainable.
During a panel discussion featuring Professor Stefan Dercon of the Blavatnik School of Government at the University of Oxford, Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, Mr Omoboyede Olusanya and Chema Triki, the governor emphasised what he described as a “citizens’ compact” for national development.
“We are all responsible,” Soludo declared, arguing that the everyday choices and actions of individual Nigerians have significant implications for the country’s economic fortunes.
He particularly advocated patronage of locally manufactured goods, using his signature Akwete fabric attire to illustrate how Nigerians could contribute to economic growth by embracing indigenous products.
According to him, greater patronage of Nigerian fabrics could stimulate domestic production, strengthen local industries and create as many as 10 million jobs annually in the textile sector alone.
The governor’s argument centred on the need to transform patriotism into practical economic decisions, with citizens supporting local manufacturers and businesses to expand production, generate employment and retain more economic value within the country.
On Nigeria’s macroeconomic outlook, Soludo said there was a global consensus that the country was moving in the right direction, arguing that the current administration had delivered a level of macroeconomic stability not seen in decades.
He urged the country to sustain the gains over at least the next decade, while cautioning Nigerians against what he termed “money illusion” — a warning against mistaking nominal increases in income or economic figures for genuine improvements in purchasing power and living standards.
Soludo also called for stronger coordination between the Federal Government and the federating units, maintaining that sustainable economic progress would require governments at all levels to work together rather than pursue disconnected policies.
“There must be collaboration and coordination between the Federal Government and federating units,” he said.
He further advocated what he described as “allocative efficacy” and “sectoral coordination” to ensure that public resources are deployed efficiently and economic policies across different sectors and levels of government reinforce one another.
The governor’s message at the summit was that Nigeria’s economic transformation cannot depend on government policies alone. It also requires citizens to support local production, governments to coordinate their development priorities and the country to sustain economic stability over the long term.
Tags: Soludo, Nigerian Economy, Economic Summit
