Anambra State Governor Professor Chukwuma Charles Soludo has expressed confidence in his financial management capabilities, stating he would feel terrible about himself if he failed to properly manage the state’s resources given his extensive background in economics and banking.
Speaking in an interview with Arise TV, Governor Soludo highlighted his qualifications and experience in financial management while discussing his administration’s approach to state finances. “If with my background in finance, banking, economics, I have advised and consulted for over 20 international development and financial institutions—former Chief Economic Advisor, head of national planning—as a former Governor of Central Bank, if I can’t even manage small finances of a small Anambra State, I will feel terrible about myself,” Soludo stated.
The governor outlined his administration’s strategy for improving the state’s financial position through disciplined spending and strategic prioritization. “So we put the public finance back in order through extreme prudence, having our priorities clear and going for value for money. Our mantra in Anambra is doing more with less,” he explained.
Governor Charles Soludo outlined Anambra State’s strategic borrowing framework, emphasizing that the administration has established clear standards and criteria for taking on debt. He explained that the state will primarily borrow for bankable projects that demonstrate the potential to generate sufficient returns to repay the loans in the future.
He indicated that the state’s preference is to secure funding on concessional terms when borrowing becomes necessary. He noted that Anambra is now positioning several major infrastructure projects along what he termed the “bankability path.”
Soludo highlighted the state’s collaboration with CPCS of Canada in developing a comprehensive rail master plan, explaining that the administration is currently exploring various financing options for this initiative. He acknowledged that such large-scale projects exceed the state’s current financial capacity from both federal allocations and internally generated revenue.
The Governor also revealed plans for three new cities that are being designed and packaged for development. He indicated that the state is working with international financial institutions, including the African Development Bank, to finalize various aspects of these projects.
Soludo emphasized that any borrowing arrangements must be structured to ensure bankability, following global best practices.
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