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From George Onyejiuwa, Owerri
Vice President Kashim Shettima has identified Imo State as a major pillar in Nigeria’s economic diversification agenda, primed for rapid growth in technology, gas utilisation, agro-industrial processing, and small and medium-scale enterprises (SMEs).
He said the government is committed to providing access to financing through the Bank of Industry and the Development Bank of Nigeria, alongside structured Public-Private Partnerships in housing, transport, and renewable energy sectors for the state.
Speaking on Thursday at the Imo State Economic Summit 2025 in Owerri, VP Shettima said national prosperity can only be sustained when every state takes ownership of its development and deliberately harnesses its comparative advantages.
“Nations do not rise because one corner of the map ascends while others remain dormant. Nations rise when every part discovers its promise and takes responsibility for its own economic direction,” he said.
The Vice President described Imo’s economic prospects as unmistakable, stressing the state occupies a strategic position in President Bola Ahmed Tinubu’s reforms aimed at stabilising the business environment and unlocking long-term growth.
According to him, the summit’s theme, ‘Unlocking Imo’s Economic Potential: Partnership, Investment, and Innovation’, aligns with the Federal Government’s reform agenda to build a resilient, competitive and inclusive economy.
“All these possibilities converge to remind us that Imo is not just ready for investment. Imo is primed for transformation,” VP Shettima said.
He highlighted high-growth sectors capable of driving Imo’s resurgence, including Free Trade Zones and Special Agro-Industrial Processing Zones, expanded gas utilisation, and the development of robust digital infrastructure to attract ICT firms and modernise the economy.
Reaffirming the Federal Government’s commitment to investor protection, Shettima said the Tinubu administration would continue to de-risk private investments and provide consistent policy direction.
“The Federal Government stands ready to walk with Imo State to unlock opportunities, de-risk ventures and ensure development benefits are felt across communities. To investors, the message is unmistakable: Imo is open for business. Nigeria is open for business,” he said.
He urged that global competitiveness now hinges on innovation, talent and technology, not just natural resources, urging Imo to place innovation at its growth strategy’s core. He disclosed that the Federal Government is empowering young innovators, expanding digital skills, growing tech clusters, promoting STEM education, and deepening university-industry research.
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“The young people of Imo are creative, ambitious and connected to the global knowledge economy. Our duty is to give them the tools, platforms and confidence to build the future that awaits them,” Shettima said.
Shettima added that Imo could emerge as a technology hub, a major GDP contributor, a magnet for the creative economy and a leading centre for SMEs and industry if partnerships and investments are mobilised.
He challenged stakeholders: “Let this Summit not end with good ideas alone. Let it lead to signed partnerships, funded projects and measurable outcomes that uplift lives and create jobs.”
In his welcome address, Imo State Governor, Hope Uzodinma, commended President Tinubu’s reform policies, saying they have reset Nigeria’s investment space. He noted Imo State had keyed into the President’s reforms, with the aim of leading regional development. Uzodinma said the state is leveraging its unique landmass and natural resources to provide an ideal environment for investment.
“We are blessed with the largest game reserve estimated at 200 trillion cubic feet. So, for those in gas exploration and utilisation, Imo State is the destination.
“We also have other resources like lead, zinc, crude oil, cotton, and agriculture is our mainstay as the heartland of Eastern Nigeria. We also boast the third highest human capital development index in the country,” the governor said. He described Imo as the state where ‘Investment Meets Opportunities (IMO)’ and business follows.
Other summit highlights:
First female elected President of Mauritius, Ameenah Gurib-Fakim, urged Africa to take its place in the global market and praised Nigeria’s leadership, pledging to bring renewable energy investors to Imo.
Minister of Finance, Chief Wale Edun, emphasised the key role of the private sector and praised Imo State’s economic strategy.
8th UN Secretary General Ban Ki Moon called the summit significant, urging support for Africa’s technology needs—aiding global sustainable development by helping Africa.
Dangote Industries President, Aliko Dangote, praised Tinubu’s reforms and pledged major investments in Imo. Ex-AFREXIM Bank VP Benedict Oramah revealed a multi-million-dollar facility in Imo to support export-quality product manufacturing, commending Uzodinma’s drive for economic expansion.
