Governor Chukwuma Soludo of Anambra State said that the twin vehicles of democracy and free market economy are threatened by a challenging economy in Nigeria.
Soludo spoke at the special edition of The Platform to mark the 2024 Democracy Day in Nigeria on Wednesday in Lagos and the theme of the event was “Towards Sustainable Democracy and Free Market Economy in Nigeria and was convened by Pastor Poju Oyemade of The Covenant Nation.
According to him, a majority of Nigerians have not fared economically well after 25 years of democracy and many of them are living in multi-dimensional poverty.
He asserted Nigeria is a very poor country and its public finance is broken, adding that this admission is critical to any reasonable discourse on the road to finding solutions to the challenges confronting the Nigerian economy.
He said, “I deeply feel the pains of all Nigerians at these challenging times, especially the over 100 million Nigerians who are multidimensionally poor.”
According to him, “…our democracy faces an existential threat of a potentially unsustainable economy, and all Nigerians must brace up to save and sustain it.”
However, he posited that building the next Nigeria will require very determined and strong efforts by all Nigerians, stating that Nigerians must turn the current challenges into opportunities
But he stated that the country “needs democracy and free market economy as two sides of a vehicle for maximizing liberty, freedoms, security, prosperity and happiness of the citizens, adding that neither democracy nor free market economy will endure if they don’t deliver these objectives.”
But he argued that President Bola Tinubu did not cause the current economic problem that Nigeria is facing, adding that, “it took more than 10 years of living in denial and kicking the cans down the road to get to this predictable sorry state. We are suffering the consequences of delayed and misguided adjustments. From a macroeconomic standpoint, the economy that President Tinubu inherited was akin to a dead horse but standing.”
However, Governor Soludo frowned at the “obscene flamboyance lifestyles of governments and government officials don’t” reflect the current economic situation in Nigeria, adding that the poor are hungry and impatient and public officials should not annoy them more with their insensitivity.”
He elected officials should start earning minimum wage, stressing that Nigeria is broke.
He said Nigeria has become impoverished due to the flamboyant lifestyles of government officials at the expense of the citizens’ shared wealth.
The governor said these officials should be paid the minimum wage to experience what citizens are facing, adding that the system is in denial.
“Let’s come clean and straight with Nigerians. Nigeria is very poor and broke but the lifestyle of government and government officials does not show it, especially with the obscene flamboyance in public display,” Soludo said.
“The poor are hungry and impatient, let’s not annoy them more with our insensitivity.
“In this case, I agree with reverend father Mbaka, who said elected governors should also earn minimum wage. I agree that we should be paid that so that we can feel that as well.
“In Anambra, I have not received a kobo as salary since I assumed office. I have donated my salary to the state.
“It is symbolic. It is not much. I think generally, the system is in denial. There must be some signaling, it is just the symbolism of this.”
Soludo called for a new code of conduct for public officeholders to enhance fiscal prudence while performing the core duties for which they were elected.
“That is why I proposed reinventing the new code of conduct for public officers,” he said.
“For the federal government, the actual projecting revenue comes to about N6,160 per Nigerian, per month.
“For the states, except Lagos and a few states, most states have revenues amounting to less than N3,000 per resident, per month.
“It is from this shares per citizen that we are expected to provide all the infrastructure, debt service, pay salaries and pensions, build schools and provide everything.
“For each of our wasteful spending, let’s be conscious about the fact how many citizen share we are squandering. Once we lose this consciousness about the public trust we bear, the society dies irredeemably.”
Soludo also claimed that no one would receive up to N2,500 if Anambra’s monthly revenues were distributed to citizens individually.
He said he shares the pains of Nigerians in these difficult times, especially the over 100 million Nigerians who are multidimensionally poor.
“Sometimes, I just wish that I can give every resident of Anambra maybe a million naira each to ameliorate the hardship that we have, but the reality is that if we get our entire revenue in a month, both from FAAC and from our IGR and put it on the table, call all our estimated 8.5 million residents and share it, nobody will get up to N2,500,” he said.
The governor said the same limited funds, insufficient to provide N2,500 to each resident, will also cover salaries, pensions, road construction, and investments in health and education, among other expenses.
Speaking at the event, Bishop Matthew Kukah, the Archbishop of Sokoto Diocese of the Catholic Church, urged Nigerians to work towards making the country a peaceful place.
Other speakers at the event were Yakubu Dogara, former speaker of the House of Representatives, Babatunde Fashola, s former governor of Lagos State, Olusegun Amenities, chairman, ThisDay Editorial Board, and others.
