Soludo: Anambra-Delta Alliance Key to Creating Jobs and Attracting Investment

Soludo: Anambra-Delta Alliance Key to Creating Jobs and Attracting Investment

By Our Correspondent

ASABA, DELTA STATE — Anambra State Governor, Prof. Chukwuma Soludo, has urged Anambra and Delta states to forge a stronger economic partnership capable of attracting major investments, expanding employment opportunities and improving the living standards of citizens.

Speaking at an economic summit in Delta State, Soludo said the gradual improvement in Nigeria’s macroeconomic conditions should not remain a matter of economic statistics but must translate into real opportunities for businesses, investors and ordinary Nigerians.

The governor observed that increased stability in the foreign exchange market and the country’s stronger external reserves had created a more favourable climate for investment compared with the economic difficulties experienced in previous years.

He said sub-national governments must now take advantage of the changing economic environment by developing policies and infrastructure that would encourage investors to establish businesses, expand production and create sustainable employment.

Soludo explained that his administration had deliberately maintained a conservative approach to borrowing, noting that Anambra State had not borrowed since he assumed office.

He also recalled the state’s decision to withdraw from the World Bank-supported NG-CARES programme, citing concerns at the time over exchange-rate distortions and the implications of foreign-denominated financing.

According to him, the economic situation has since changed considerably, particularly with the significant improvement in Nigeria’s foreign exchange reserves.

He noted that the improved economic outlook had also contributed to a reduction in the level of capital flight, creating an opportunity for states to reposition themselves as competitive destinations for domestic and international investment.

The Anambra governor, however, stressed that sustainable development would require cooperation among neighbouring states rather than isolated efforts.

He described Anambra and Delta as closely connected economic neighbours, likening their relationship to that of New York and New Jersey, and called for joint initiatives that would maximise the comparative advantages of both states.

Soludo disclosed that Anambra was developing an economic free-trade zone anchored by an aerotropolis, expressing confidence that collaboration with Delta State could significantly expand the economic benefits of the project and open new investment corridors.

He challenged participants at the summit to move beyond discussions and declarations, insisting that the success of the gathering should ultimately be measured by the investment agreements and projects that emerge from it.

“What follows this summit is what truly matters, the actual deals,” he said.

Soludo further called for a coordinated national development strategy that would consolidate the gains recorded in macroeconomic stability while directly confronting persistent challenges such as unemployment and poverty.

He also emphasised the need to strengthen Nigeria’s domestic production capacity through increased patronage of locally manufactured goods.

According to him, Nigerians can contribute significantly to job creation by choosing locally produced goods and services instead of relying excessively on imported alternatives.

Pointing to the Akwete fabric he wore, the governor said his consistent patronage of the indigenous textile was a deliberate way of supporting the women whose livelihoods depend on its production.

He argued that if individuals, businesses and government institutions increased their patronage of Nigerian-made products, local industries would expand and millions of jobs could be generated.

Soludo cited a recent ₦2 billion commitment towards supporting Akwete production as an example of the kind of intervention that could strengthen indigenous industries, raise household incomes and preserve Nigeria’s cultural heritage.

He therefore called on governments at all levels, investors, businesses and citizens to make local production and investment promotion part of their everyday economic behaviour.

The governor maintained that Nigeria’s emerging economic opportunities must be converted into tangible improvements in citizens’ lives through increased investment, stronger businesses, job creation and sustained poverty reduction.