RismadarVoice Reporters
November 12, 2026
Anambra State Governor, Chukwuma Soludo, has called for double-digit economic growth and investment exceeding 30 per cent of Nigeria’s Gross Domestic Product (GDP) to accelerate industrialisation and achieve the country’s $1 trillion economy ambition.
Soludo made the call on Thursday while delivering a keynote address at the presentation of Economic Diversification and Structural Transformation in Nigeria: The Past, The Present, The Future, a book authored by House of Representatives member Abdulmumini Jibrin Kofa, at the Presidential Villa, Abuja.
Speaking on the theme, “Speeding Up and Building to Last,” the former Central Bank of Nigeria governor acknowledged improvements in economic stability under President Bola Tinubu but warned that the current growth rate remained inadequate.
He argued that annual economic expansion of approximately four per cent could not deliver the industrial development, employment opportunities and poverty reduction Nigeria urgently required.
According to Soludo, achieving faster growth would require raising investment from approximately 17 per cent of GDP to more than 30 per cent, supported by stronger private-sector participation and improved infrastructure.
He identified weak manufacturing capacity as a major obstacle, observing that the sector’s contribution to GDP had remained below 10 per cent despite decades of economic diversification efforts.
Soludo warned that Nigeria’s rapidly growing population would place increasing pressure on employment, education, healthcare and housing unless economic productivity improved substantially.
He also advocated an exchange-rate strategy that would strengthen domestic production, support exports and improve the competitiveness of Nigerian manufacturers.
While commending the Federal Government’s infrastructure initiatives, particularly the Lagos-Calabar Coastal Highway, the governor urged improved transport connections between major commercial centres.
He specifically proposed linking Onitsha to the coastal highway and port facilities around Onne to improve maritime access for South-East businesses.
Soludo further called for stronger domestic revenue mobilisation, increased patronage of locally manufactured goods and long-term economic policies capable of surviving changes in political leadership.
He warned that abandoning development programmes for short-term electoral considerations could undermine sustainable economic transformation.
President Tinubu was represented at the event by Speaker of the House of Representatives, Tajudeen Abbas.
The governor maintained that Nigeria must combine economic stability with substantial investment, industrial expansion and policy consistency to achieve lasting prosperity.
