Onitsha traffic shows South-East is back to business, Soludo tells investors

Anambra State Governor, Professor Chukwuma Soludo, has declared that the Monday sit-at-home in the South-East has effectively come to an end, citing the heavy traffic he encountered in Onitsha on Monday as evidence of the return of normal economic activities.

Speaking at the Delta State Economic and Investment Summit 2026, themed “Harnessing Our Strengths, Unlocking Our Potentials,” Soludo said his 15-minute delay caused by traffic congestion in Onitsha reflected the restoration of business and movement across the commercial city.

“To have traffic at Onitsha on a Monday, the Monday sit-at-home is over,” the governor said, drawing applause from participants at the summit.

Using the experience to underscore improvements in security and economic activity, Soludo said the region had moved beyond the era of enforced work-free Mondays and was now focused on unlocking investment opportunities and regional economic integration.

Addressing political leaders, investors and policymakers, Soludo stressed the importance of collaboration among states, describing the relationship between Anambra and Delta as similar to that of “New York and New Jersey.”

He disclosed that Anambra State was working towards establishing an economic free trade zone driven by an aerotropolis, adding that stronger partnerships among sub-national governments would accelerate regional development and attract greater investment.

The governor also used the occasion to advocate for increased patronage of locally made products. Displaying his traditional attire, he said he was dressed in Akwete fabric, revealing that he had adopted the indigenous textile as his daily wear after being introduced to it by his daughter in 2019.

READ ALSO; Soludo confirms arrests, assures justice in assault of NYSC member in Anambra

According to him, a nationwide commitment to consuming locally manufactured goods could create more than 10 million jobs and stimulate domestic industrial growth.

Highlighting his administration’s fiscal management, Soludo said Anambra had not borrowed any funds since he assumed office. He added that the state deliberately declined a World Bank loan to shield itself from the risks associated with exchange rate volatility.

On the national economy, the governor expressed optimism over Nigeria’s macroeconomic outlook, noting that the country’s foreign exchange reserves had improved significantly.

He stated that the nation’s reserves had risen from about $3 billion in 2023 to approximately $52 billion in gross reserves, while net reserves had surpassed $40 billion.

Calling for concrete outcomes from the investment summit, Soludo urged governments and investors to move beyond discussions and focus on implementation.

“Let’s keep it simple. Let’s make investments a habit and not an event,” he said, while advocating a coordinated national development framework capable of translating economic reforms into employment opportunities and poverty reduction.

The summit also featured contributions from key economic stakeholders.

Minister of Finance Taiwo Oyedele said the Federal Government had laid a solid macroeconomic foundation and challenged state governments to leverage the reforms to stimulate local economic development.

Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, expressed confidence in Nigeria’s economic prospects, urging greater economic diversification and expanded digital connectivity to harness the potential of Africa’s youthful population.

She described herself as “a Nigeria optimist” and highlighted emerging opportunities for sustainable growth.

Also speaking, Prof. Patrick Lumumba called on Africans to become primary investors in their own economies to maximize the opportunities presented by the African Continental Free Trade Area (AfCFTA). He warned against a fragmented continental market and identified energy as a key driver of industrialization across Africa.

Earlier, Delta State Governor Sheriff Oborevwori welcomed participants to the summit, describing Delta as a state with abundant investment opportunities and reaffirming his administration’s commitment to creating a business-friendly environment for local and foreign investors.