Alliance Urges FG to Adopt Anambra’s Zero-Borrowing Model
The Alliance for Economic Research and Ethics (AERE) has urged the Federal Government to overhaul its fiscal strategy, saying Nigeria should shift from a debt-driven model to a revenue-led approach, while citing Anambra State’s zero-borrowing policy as evidence that economic development can be achieved without accumulating unsustainable debt.
In a policy paper released on August 3, 2026, titled A Tale of Two Ledgers: Anambra’s Zero-Borrowing Masterclass vs. Nigeria’s Debt Spiral, the Chairman of the Alliance, Dele Kelvin Oye, contrasted Anambra State’s fiscal management under Governor Chukwuma Charles Soludo with the Federal Government’s rising debt profile.
The report said Governor Soludo inherited Anambra with a debt burden of ₦109 billion and cash reserves of about ₦400 million when he assumed office in March 2022, but committed to a zero-borrowing policy despite difficult economic conditions marked by subsidy removal, exchange rate reforms and high inflation.
According to the Alliance, the state has maintained that commitment for more than three years.