Prolonged sit-at-home in Southeast weakens investor confidence – Soludo

Governor Charles Soludo of Anambra State has raised fresh concerns over the prolonged Sit-at-Home directive in the Southeast, warning that the region has paid an enormous economic and social price over the past five years.

Soludo

According to him, what began as a political protest has evolved into a recurring disruption that continues to undermine growth, stability and investor confidence across the zone.

Speaking to journalists at the State House in Abuja after a closed-door meeting with President Bola Ahmed Tinubu, Soludo described the cumulative impact as staggering.

He explained that losing one working day every week translates into forfeiting roughly 20 percent of the region’s productive capacity.

With 52 Mondays in a year affected by the Sit-at-Home, the consequences compound significantly over time.

The governor stressed that the damage extends beyond daily business closures. Schools regularly shut their gates, transport services scale down operations, and public offices operate below capacity.

He noted that this repeated halt in activity has created uncertainty for entrepreneurs and discouraged both local and foreign investors from committing long-term capital to the Southeast economy.

Soludo linked the weekly shutdown to the order declared by the Indigenous People of Biafra (IPOB) in protest over the detention of Mazi Nnamdi Kanu.

However, he emphasized that the region’s economic future cannot remain tied to a cycle of enforced inactivity.

According to him, sustained disruptions have pushed some business owners to relocate investments outside the Southeast, redirecting opportunities to other parts of Nigeria.

He explained that the Sit-at-Home has also affected the informal sector, which constitutes a major part of the regional economy.

Artisans, traders, transporters and small-scale entrepreneurs lose a full day’s earnings each week.

Over time, these missed incomes reduce household spending power and slow broader economic circulation.

The governor warned that if not decisively addressed, the long-term implications could weaken the Southeast’s competitiveness nationally.

Despite the challenges, Soludo expressed optimism that the tide may be turning.

He disclosed that more than 45,000 shops reopened at the Onitsha Main Market on a recent Monday, marking a significant shift in compliance patterns.

The Onitsha Main Market, widely regarded as one of the largest commercial hubs in West Africa, had for years remained largely shut every Monday due to the Sit-at-Home.

Describing the development as a breakthrough, the governor said he personally visited the market and witnessed a resurgence of commercial activity.

Traders returned in large numbers, and customers thronged the area in what he called a visible demonstration of resilience.

On a subsequent Monday, he revealed, attendance at the market surpassed 100,000 people, with movement so dense that navigating through the premises became difficult.

Soludo argued that reopening such a strategic marketplace signals renewed confidence among business owners.

He urged traders and residents to prioritize economic survival and collective prosperity over prolonged disruptions.

According to him, the revival of the Onitsha Main Market illustrates that communities are increasingly choosing productivity over paralysis.

Beyond economic recovery, the governor highlighted efforts to strengthen Anambra security.

Since assuming office, he said his administration has dismantled no fewer than 62 criminal camps across the state.

These operations form part of a broader security strategy aimed at restoring normalcy and reinforcing public confidence.

He noted that the state government established a vigilante outfit known as Agunechemba, alongside coordinated anti-cult and anti-touting units.

These structures, working in collaboration with conventional security agencies, have contributed to reducing violent incidents and improving safety conditions.

Soludo maintained that enhanced Anambra security played a crucial role in encouraging traders to resume activities despite lingering fears linked to the Sit-at-Home.

The governor also dismissed suggestions that insecurity prompted his meeting with President Tinubu.

He clarified that while security remains a continuous responsibility of his administration, his visit to Abuja addressed a broader range of governance matters.

According to him, Anambra has recorded visible improvements in safety, particularly during the last Christmas season when the state witnessed heavy traffic and mass movement without major disruptions.

On the future of the Onitsha Main Market, Soludo announced plans for structural regeneration and modernization.

He observed that years of disorderly expansion had degraded infrastructure, including the conversion of designated parking spaces into clusters of shops.

The proposed reforms, he said, would restore the market’s organizational integrity and preserve its status as a premier commercial destination.

While declining to provide operational details about those previously running the dismantled camps, the governor insisted that the criminal networks had been effectively neutralized.

He emphasized that sustaining peace is critical to unlocking the Southeast economy’s full potential.

Soludo concluded by reiterating that the Sit-at-Home must not define the region’s economic narrative.

He urged stakeholders—community leaders, traders, youth groups and political actors—to work collectively toward restoring uninterrupted productivity.

According to him, rebuilding investor trust, stabilizing schools and revitalizing commerce are essential steps toward securing long-term prosperity for the Southeast.

Ireport247news

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