Anambra State Governor, Professor Chukwuma Charles Soludo, has declared that Nigeria’s economy has stabilised and is now on an upward trajectory, citing improved foreign reserves and a more predictable exchange rate environment.
Speaking at the Delta State Economic and Investment Summit 2026 in Asaba on Monday, Soludo said, “From a macroeconomic standpoint, Nigeria has stabilized and is on the rise.”
He pointed to stronger external reserves—net reserves of over $40 billion and gross reserves of about $52 billion—contrasting the figures with significantly weaker levels in 2023. According to him, the current exchange rate has become “more stable and predictable,” creating a better environment for investment and planning.
Highlighting his administration’s fiscal approach, Soludo stated: “I haven’t borrowed a dime since I became Governor.” He revealed that Anambra withdrew from an existing World Bank loan upon his assumption of office due to exchange-rate risks that would have made even concessional loans costly in real terms.
On job creation, the governor stressed the importance of local production, arguing that Nigeria cannot achieve large-scale employment while relying heavily on imports. “If all of us 247 million Nigerians wear only made-in-Nigeria, more than 10 million jobs will be created,” he said, urging increased patronage of locally manufactured goods.
Soludo also used the occasion to signal what he described as a major economic and social shift in Anambra State—the end of the long-running Monday sit-at-home.
Arriving late to the summit due to traffic in Onitsha, he said: “Today is a Monday, and to have traffic at Onitsha on a Monday, the Monday sit-at-home is over.”
The development follows enforcement measures earlier in 2026 aimed at ending the disruption, which officials say had cost the state billions of naira in lost economic activity monthly. Markets and businesses across the state have since resumed normal operations on Mondays.
The Delta State Economic and Investment Summit, held from August 3 to 5 at the Dome Event Centre in Asaba, is themed “Harnessing Our Strengths, Unlocking Our Potentials.” It has drawn top policymakers, global economic leaders, and investors to discuss opportunities in oil and gas, agriculture, energy, ICT, and other key sectors.
Soludo’s remarks combined a national economic outlook with state-level policy outcomes, positioning Anambra as an example of fiscal discipline, local production advocacy, and economic recovery.
