Ozigbo made the call on Monday in the latest edition of his #WakeUpSeries, aimed at casting a critical spotlight on the economic landscape of Anambra State, raising pertinent questions about the utilization of state funds and the current administration’s economic policies.
Ozigbo, known for his incisive analysis of socio-economic issues, expressed deep concern over the widening gap between expectations and reality in Anambra’s economic sphere, particularly given the state’s rich history as a thriving hub of commerce and industry.
He said despite being led by Professor Charles Chukwuma Soludo, a world-renowned economist, 30 months into the current administration, Anambra’s economic potential remains largely untapped.
He raised concerns over how the Soludo administration expended the sum of N487 Billion Naira, representing the state’s financial resources over the past two and a half years, questioning the impacts of such significant funding.
Ozigbo lamented that despite being a potential economic powerhouse, the state and her people are struggling under the weight of inadequate infrastructure and what he terms ‘unfavorable stifling policies.’
Of particular concern to Ozigbo is the plight of small businesses, which he describes as the “lifeblood of Anambra’s economy.”
These enterprises, along with larger corporations, he said, are grappling with challenges that have led to reduced productivity and, in some cases, outright closures.
This situation, Ozigbo argues, is exacerbating unemployment and increasing hardship for the average Anambra citizen.
Also mirroring Soludo’s approach to tax collection and fund utilization, Ozigbo said “While increased internally generated revenue (IGR) was promised to fuel development projects, there is a question mark around the visible impact of this fund.”
The business leader identified insecurity as the most worrisome challenge to Anambra’s economic growth, leading to capital flight, deterring investments and hampering the natural “Think Home” philosophy of Anambra people.
Ozigbo calls for urgent and decisive action, calling on Governor Soludo to work closely with the federal government and stakeholders to create the peace and security necessary for economic prosperity.
He also advocated for a reevaluation of economic strategies, prioritizing infrastructure development and fostering a more business-friendly environment, while emphasizing the need for transparency in the use of state funds and closer collaboration with the private sector.
