Tinubu, Boris Johnson, Ki-Moon, Others Rally to Unlock Imo’s Economic Potential

•Uzodimma says state is hub for investment 

•Edun reveals Nigeria targeting 7% GDP

•Ban Ki-Moon calls for strengthening of global partnerships 

•Dangote seeks increase in in-country investment

Emmanuel Addeh in Abuja

Global leaders, including President Bola Tinubu, former British Prime Minister, Boris Johnson, as well as a former United Nations (UN) Secretary General, Ban Ki-Moon, among others, yesterday turned out in their numbers in Owerri, Imo State,  in efforts by the state to unlock its economic potential.

Other dignitaries that attended the two-day Imo Economic Summit, the first since the creation of the state, included: President Joseph Boakai of Liberia,  President Amina Akim of Mauritius, Prime Minister Americo Ramos of Sao Tome and Principe, as well as Minister of Finance and Coordinating Minister of the Economy of Nigeria, Mr. Wale Edun.

Also in attendance were: President of the Dangote Group, Alhaji Aliko Dangote, Governors of Edo ( Monday Okpebholo), Ekiti (Abiodun Oyebanji), Ondo (Lucky Aiyedatiwa), Yobe ( Mai Mala Buni) and a  former Africa Import-Export Bank Chief, Prof Benedict Oramah.

In  his speech delivered by the Vice President, Senator Kashim Shettima, Tinubu reaffirmed the federal government’s commitment to supporting Imo State’s economic development especially as the summit, aimed at fostering growth and attracting investments, showcased various initiatives designed to enhance the state’s economic landscape.

Tinubu emphasised the importance of collaboration between states and the federal government,  highlighting several key government programmes intended to provide financial assistance and infrastructure improvements.

“We recognise the unique challenges that Imo state faces, and we are dedicated to implementing strategies that will not only boost local businesses, but also create sustainable job opportunities,” he noted.

The President assured that the federal government will continue to provide Imo state and Igbo land at large the platform to grow and develop.  He appealed to well-meaning Nigerians and the international community to invest in Imo state and all parts of Nigeria, especially with the development of digital transformation, and conducive environment in Imo state.

Also, in their respective keynote addresses, the President of Liberia, Boakai, the Prime Minister of Sao Tome and Principe, Ramos and the first female President of Mauritius,  Akim, all aligned with the fact that Africa is the rising continent of hope.

According to them, Nigeria, a power hub with talents and a vibrant youth population, will continue producing entrepreneurs that will rule the world.

They called for stronger partnership as key to unlocking economic potentials of Imo State, Nigeria and Africa at large; with the President of Mauritius particularly promising to bring in potentials of renewal energy to the State.

Boakai expressed strong confidence that Imo State can undergo significant transformation through innovation. “Innovation can become the engine that drives Imo’s transformation,” the Liberian leader said.

He added: “If Africa must progress, elections must not only be peaceful—they must also deliver development dividends to the people who elect their leaders. The lives of the people must be improved,” hinting that Liberia shares several similarities with Imo.

 “As I stand here today, I am reminded that Liberia and Imo have more in common than just our geographic space in West Africa. We share a history of resilience; we share a desire for peace; we share a commitment to good governance; and we share the belief that Africa can rise on its own terms through its own efforts,” he noted.

In his welcome remarks, Governor Hope Uzodimma  highlighted  the state’s potential as a hub for investment and economic development. “You are in the right place at the right time,” Uzodimma declared, acknowledging the high turnout of local and international dignitaries.

The governor, who hinted that the summit is positioned as a historical moment for Imo State, marking a new chapter in its economic journey, praised recent national reforms under President Tinubu.

“Nigeria is witnessing bold, market-driven policy resets which have created a favourable investment climate”, he stated. He added that the changes align with Imo’s initiative to achieve a $1 trillion economy, calling for collaboration with the federal government’s economic renewal plan.

The governor provided an overview of Imo State’s geographic advantages, its significant landmass, population, and access to vital markets. He said with a diverse agriculture sector and rich natural resources, he believed the state is poised for growth.

“Imo has the largest proven gas reserves in West Africa,” he revealed, highlighting the potential for investment in the energy sector.

Addressing infrastructural challenges, Uzodimma affirmed ongoing improvements. “We have constructed over 120 strategic roads,  enhancing connections within the State and to neighbouring regions.”

However, he acknowledged that reliable electricity is crucial for industrial growth, announcing the upcoming launch of the ‘Light Up Imo Project’, which aims to provide 24/7 power supply, effective this month.

Uzodimma identified other key areas that give Imo State an advantage over her competitors to include the dredging of the Orashi River to the Atlantic, the current status of Imo State as the digital hub of Nigeria, and the localised business initiative – OKOBI (One Kindred, One Business Initiative).

He invited participants to take part in Imo’s economic renaissance, urging investors to join in transforming the State which is no longer at the rising level, but has risen.

The Minister of Finance and Coordinating Economy, Edun, highlighted efforts at developing an independent electricity project that will generate 24/7 power supply to Imo State. This he described as “the real game changer” that will transform the economy of Imo State.

He stated that Nigeria’s economy is growing and its fiscal capacity expanding as efforts are being made to achieve a 7 per cent growth rate annually; and therefore called for partnership among local, state and federal governments.

In his remarks, a former United Nations Secretary-General, Ki-moon, emphasised Africa’s significant potential in addressing climate change. He highlighted the continent’s unique resources and capabilities that could play a vital role in global environmental solutions.

Ki-moon called for the strengthening of global partnerships to foster progress in combating climate change, urging nations to collaborate more closely. He championed the idea of global citizenship, encouraging individuals and governments alike to take responsibility for environmental stewardship and sustainable development.

Also speaking, former Prime Minister of the United Kingdom, Johnson expressed delight to have been part of the summit and lauded Uzodimma for his  ideas on the economic renaissance of Imo State.

He referenced the growth potential of Nigeria, pointing out that it remains the most exciting investment prospect that will overtake  most countries of the world, given her dynamic population and natural endorsement.

The former president of Afreximbank,  Oramah, reaffirmed the bank’s unwavering support for Imo State, particularly in two significant projects. He highlighted the importance of the Orashi dredging project, emphasising its potential to enhance trade and improve the State’s economic infrastructure.

Additionally, he made reference to the establishment of a multi-billion Naira petrochemical testing plant near the Sam Mbakwe International Cargo Airport, saying that the facility aims to facilitate the testing of petrochemical products for export, positioning Imo State as a key player in the global petrochemical market.

President of Dangote Group, Aliko Dangote commended Tinubu for his bold policies to improve the economy of Nigeria. He advised Nigerian businessmen and entrepreneurs to have the courage to invest in the country.

He recounted the abundant natural resources and potential in Nigeria, and assured  the governor that the Dangote Group will partner with the Imo State government on any area of the latter’s choice.

The event attracted  foreign diplomats, leaders of industry across the globe, business icons, local and foreign investors, including Dr. ABC Ojiakor, Ernest Nwapa,  Mr. Uzoma Dozie of Sparkle Micro Finance Bank, Executives of various financial institutions, members of the traditional institutions, and the clergy.

The National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda and his predecessor, Dr. Abdullahi Ganduje, apart from the governors, were also present to show solidarity.