NEWS
Chukwuma Soludo’s Emergence: A Breath of Fresh Air.
By Handel Okoli
The All Progressives Grand Alliance, APGA, has set the pace in the current gubernatorial contest in Anambra State by choosing a world renowned economist and living legend, Prof Chukwuma Soludo, *Odenigbo Aguata*, to fly the party’s flag. Every right thinking *Anambrarian* and indeed Nigerian progressive, should be relieved, that in the midst economic woes, crippling unemployment, insecurity and general feeling of despondency in Nigeria, a man of high intellect and proven track record, has just emerged from one of the frontline parties in Anambra State.
Indeed, a powerful thinker has just acquired a platform to aspire for higher service.Soludo’s resume no matter how summarized should intimidate other candidates other than those with clear vision and verifiable public and private sector credentials. A homegrown scholar and intellectual, he graduated with a first class degree in Economics from the University of Nigeria, Nsukka, UNN, in 1984. And between 1985 when he completed his mandatory National Youth Service Corps, NYSC and 1989, he earned his masters and doctorate degrees in a record time of four years. He was a serial prize winner, besting existing records in the institution and garnering awards and distinctions for scholarship on the way.
He was head-hunted by the administration of former President Olusegun Obasanjo in 2003 to serve as Economic Adviser and Chairman of the National Planning Commission, NPC. About a year into this assignment, Soludo in 2004 was re-designated Governor of the Central Bank of Nigeria, CBN, by the President. He would subsequently engineer landmark changes in the nation’s banking, including the consolidation of banks. This revolutionary move, reduced the number of banks in the country to about a quarter of what it was before. Indeed by this masterstroke, a number of Nigerian banks were listed among the top banks in the African continent and beyond.
This move, boosted investor confidence in the banking system, a situation which subsequently engendered increases in the capitalization of banks, their stability and their lending capacity to boost local productivity. Just two years ago, Soludo was appointed Member of the Economic Advisory Council, EAC, by President Muhammadu Buhari. This was without regard to his political inclination in recent years.
Soludo is not a newcomer to the politics of Anambra State. Back in 2009, he was the consensus candidate of the Peoples’ Democratic Party, PDP, for the governorship election of February 2010. He lost to Peter Obi who was then a member of the All Progressives Grand Alliance, APGA. He bidded his time and took another shot at the Anambra governorship in 2013 under his new political party, but was disqualified by the APGA Screening Committee, alongside five other aspirants.
Soludo’s emergence is significant for many reasons. First, is it rekindles hope amongst people of *Old Aguata Union,* OAU, who have been clamouring to occupy the coveted governorship seat since Dr Chukwuemeka Ezeife’s tenure was truncated in November 1993. Ezeife, a Harvard trained economist could not settle down to the job before the military led by Gen Sani Abacha, ousted that regime. OAU had yet another chance via Andy Uba’s governorship in 2007, but like a flash in the pan, that hope also lasted for a little over two weeks. The brevity of the tenure of that government, makes it perhaps the shortest stint by a governor in any government house in Nigeria.
But one point must be quickly made. As a man with a cocktail of human capacities and distinctions, Soludo’s relevance goes way beyond his local constituency. In his acceptance speech he confirmed that in a wider context he is also a pan-Africanist. Soludo’s emergence as flagbearer of APGA, throws a big challenge to the All Progressive Congress, APC, which desires to extend its tentacles in the South East. Whether his challengers are either of Dr Chidozie Nwankwo whose hurricane campaigns have significantly energized a comatose APC in Anambra State, or Andy Uba an old fox in the game, how they fare in a free and fair contest against Soludo, will be decided at the polls.
Indeed, it will therefore be a very costly mistake if Peoples’ Democratic Party, PDP, does not nominate a candidate of commensurate stature, from Anambra South, for the exalted seat. In Anambra today, popular opinion favour the emergence of a candidate from Anambra South. This is against the backdrop that that former Governor Peter Obi from the Central senatorial district, was succeeded by Willie Obiano from the North. It therefore appeals to common sense that PDP now led by the same Peter Obi should nominate a candidate of Anambra South extraction if that segment of the state will have any chance of producing the next governor.
But is Soludo stoppable ? We have clear four month period of campaigns to prove this point either way. However, one thing is sure. By his emergence Soludo instantly becomes the man to beat, at least for now. Other parties must therefore recalibrate and recalculate their strategies or be rejected by the people.
For *Ndi Anambra*, Soludo raises the bar of pragmatic political governance and excellent representation in the affairs of the South East and Nigeria. The average *Anambrarian*, nay Igbo man, can now go to sleep as he looks forward to a more purposeful and creative representation in the National Council Of States, NCS; National Economic Council, NEC; and the Governors’ Forum. The people of Anambra State can also be sure that wiThe South East , South with Soludo, the voice of the people of the South East, will be heard in their engagement with other geopolitical zones like the South South, South West and Middle Belt groupings.
Odenigbo Aguata understands the intricacies of the current national question and the place of Ndi Igbo in the future of Nigeria. Soludo has been part and parcel of the Igbo Think Tank and a frontline national and international figure. Anambra can hope to have a Governor with the requisite reach and expertise to attract foreign direct investments. Soludo potentially, is someone who can redirect Anambra economy to explore alternative measures of internal revenue generation and wealth creation. This is fundamentally important in an oil economy that is fast disappearing and giving way to clean energy and digital age. Anambra under a Soludo governorship, will become fiercely competitive and responsive to the demands and challenges of youth unemployment and middle class growth.
For the avoidance of doubt, the volume of funds in circulation in Anambra State requires an economist with a proven track record of strategic thinking and a radical departure from primordial, unproductive and outdated business modules, to convert this cash to capital and hold it captive for long term investments in Anambra state. This is where Soludo’s stellar performance as the best African Central Bank Governor will be replicated.
For Nigeria, Soludo will be both a governor and an adviser on macroeconomics, another Lee Kuan Yew personified. As a governor, his contributions will be of immense benefit to the National Economic Council and other such bodies. His knowledge and expertise will give Anambra unquantifiable mileage of political access in Aso villa. Loved and highly respected by Presidents, we can not forget how Obasanjo advised his successor Umaru Yar’Adua, to always consult and listen to Soludo because Soludo was one of the secrets of his regime’s success.
Soludo is indeed a needed breath of fresh air and an aroma diffuser of sorts in a political contest infested by impostors and predators who have little or nothing to offer. Anambra must be guided not to produce a Frankenstein, who will devour resources without any plans for regeneration.
Without any doubts, Candidate Soludo sets the pace and raises the bar of this gubernatorial contest. He offers hope to his immediate constituency which has long been neglected and brings competence and capacity to the ring. Nothing can be more refreshing than to have an altruistic leader as one of the main gladiators in the coming contest in Anambra. Nothing can be more reassuring when you have a candidate from the politically correct constituency, who is competent and ready to serve.
**Chibuko* Okoli is a former presidential aide and Chieftain of the PDP.June 23, 2021.
Chief Bode George, a former Deputy National Chairman of the Peoples Democratic Party (PDP), has urged President Bola Tinubu to reduce the price of petrol to N300 per litre ,to make things easy for Nigerians during the festive season.
George, the Atona Oodua of Yorubaland, made this plea at an interactive session with newsmen on Wednesday in Lagos.
The price of Premium Motor Spirit, popularly known as petrol, is currently above N1,000 per litre.
According to the elder statesman,Nigerians are going through hardship, the President should give an order to reduce fuel price, specifying time frame the people will enjoy such window of relief.
He said that the federal government as well as well- meaning individuals and businesses could bear the cost of such price slash , to bring happiness to all Nigerians.
The PDP leader, who noted that December and January are special months , said that such gesture could start from the middle of December and run through January.
“I have been thinking, as a Nigerian, what can we do because the anger and the hunger are almost equal on the streets of Nigeria.
“What am I suggesting is that Mr President should sit down with his managers and give an order that from the middle of December to the end of January, the cost of petrol will be N300 per litre.
“The government can absorb the losses in the interest of the suffering people.
“If they (government) want others to contribute, let us know how much that is going to cost and ask people to donate, to bear the cost.
“We will be sending a lot of messages of happiness across the tribes and homes.
“Everybody in Nigeria will be happy because it will positively impact on this period of the year. It is a challenge and he (Tinubu) can do it.
“We need this in this December and January to put smiles on the faces of Nigerians, ” George, a PDP Board of Trustees (BOT) life member, said.
Advising the President to take further measures to bring relief to the people, he said that the gesture would crash prices of essential commodities and services for the benefit of all .
He said that government’s efforts should be concentrated on reducing high inflation rate, unemployment, poverty and youth restlessness in order to create a better future for Nigerians
Speaking on the recent presidential election in Ghana, George noted that Nigeria’s electoral system needed reforms to guard against electoral frauds and manipulations.
According to him, the nation will continue to grope for development if the system fails to encourage best candidates to emerge.
Stating that election must reflect the wishes of the people and be devoid of religious and tribal sentiments, George said that Ghana election should be a wake up call for Nigeria.
“INEC performance must improve. The commission must make sure that the voice of the people is heard in elections.
“Electoral offenders should be made to face the music and sent to jail. We must be very firm about due process, credibility and transparency in elections,” he said.
Urging the President to revisit resolutions in the 2014 Constitutional Conference, George said that the current constitution was not federal in principle and practice.
“We should not deceive ourselves, the constitution is a problem. It is a military constitution, it is not democratic,” he said.
George called on the National Assembly to ensure devolution of powers and electoral reforms that would do away with manual collation of election results and mandate electronic transmission of election results from polling units.
George disagreed with political watchers saying no vacancy in presidency in 2027.
On the dwindling strength of the former ruling party, George, who noted that all organisations had its ups and downs, said that selfish interests and disregard for party rules remained PDP’s major challenge.
He said that PDP could bounce back and win presidential election if the leadership decided to elevate national interest above selfish interests and adhere to the party’s constitution.
“We will tell ourselves some serious old truth. We messed ourselves up. ” he said.
Stating, however, that the PDP was not dead, George said that lack of justice, equity, fairness and the inability to adhere to the party’s zoning and rotational principle cost the party victory in 2023.
Calling on the party’s founding fathers alive to wake up and rescue the party, George said that Nigerians were still waiting for the former ruling party to take over power and put things right. (NAN)
President Bola Tinubu, is set to perform the groundbreaking of 2,000 housing units of the Renewed Hope City in Ibeju Lekki, Lagos, in the next few weeks.
Mr Ahmed Dangiwa, Minister of Housing and Urban Development, announced this during an official assessment visit, on Wednesday in Lagos
Dangiwa said Lagos would represent the South-west, while the president would do that of the North-West in Kano, before doing that of the four other regions.
“Arrangements is already on ground, we have gotten sites, and work has commenced for 2000 houses in the Renewed Hope City that we intend to build in Ibeju-Lekki,” he said.
Towards achieving the set goal, the minister said the visiting team also paid a courtesy visit to Gov.
Babajide Sanwo-Olu to discuss area of collaboration between the federal and state governments.He disclosed that the federal and Lagos state governments had agreed to set up a Tripartite committee and ensure all the issues of concerns between the parties were resolved amicably for the benefit of all.
Earlier, the Minister embarked on an assessment visit of deplorable Federal Government buildings and assets across Lagos state in a bid to commence rehabilitation on them in a few months.
Dangiwa said the rehabilitation was necessary as the deplorable buildings posed a challenge and security concerns to the Lagos state government. (NAN)
Gov. Hyacinth Alia on Wednesday presented the sum of N550.1bn as the 2025 appropriation bill to the Benue State House of Assembly for consideration and passage into law.
Alia told the lawmakers that out of the total budget size, N175.4 billion is for recurrent expenditure while the N374.
7 billion is for capital expenditure.The governor said that the total estimate represented a 47.
5 per cent increment over the 2024 revised and approved figure of N373 billion.He stated that the appropriation bill tagged “Budget of Human Capital Development, Food Security, and Digital Economy” was to consolidate the gains made in 2024.
Alia further explained that the proposed recurrent expenditure of N175.
4 billion was 13.55 per cent higher than the previous year.According to him, budgeted capital expenditure of N374.7 billion represents a 71.5 per cent increment on the 2024 revised capital expenditure.
“The budget breakdown indicated that the sum of N212.2 billion, representing 38.52 per cent is for administration; N196.6 billion, representing 35.68 per cent is for the economy; law and justice will take N26.6 billion, representing 4.84 per cent while social welfare will gulp N115.5 billion, representing 20.96 per cent.
“We have the vision. We have the will. And most importantly, we have the people ready to work alongside us to turn this vision into reality.
“Together, we will build a state where every citizen has the opportunity to succeed, where food is plentiful, and where the digital economy opens new frontiers of opportunity for all,” he said.
The governor said the intention of the government was to stay within the limits of its recurring revenue to build the state without accruing unnecessary debts for generations unborn.
He, however, said that since the 2025 budget was a deficit one, it proposed a borrowing plan of a conservative sum of N26bn, representing a modest 4.7 per cent of the proposed aggregate expenditure for 2025.
“This is lower than the state’s debt-to-GDP ratio of 8.2 per cent which is within the benchmark of the 25 per cent debt sustainability threshold.
“Despite these favourable debt ratios, I want to reiterate that borrowing will only be considered as a last resort and for regenerative investment purposes,” he added.
Alia stated that the problem of Internally Displaced Persons (IDPs) remained a challenge, adding that they have reasonably improved their living conditions.
He said the Bureau of International Cooperation and Development has elicited substantial grants from donors, totalling N85bn. (NAN)
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