Uzodimma Positions Imo as Nigeria’s Next Investment Hub, Woos Investors

Governor Hope Uzodimma of Imo State on Monday intensified efforts to attract local and foreign investment, declaring that the state has undergone significant economic and structural reforms that have positioned it as one of Nigeria’s most promising destinations for business and industrial growth.

The governor said sustained investments in infrastructure, security, power generation, digital technology and ease-of-doing-business reforms have created a conducive environment for investors seeking opportunities in Southern Nigeria.
Speaking at the third edition of Invest Lagos 3.0, themed “Lagos: The Business Gateway to Africa,” held at Eko Hotel and Suites, Victoria Island, Lagos, Uzodimma said his administration had deliberately transformed Imo from a government-driven economy to a private sector-led growth model.

He noted that the state’s strategic location, abundant natural resources and investor-friendly policies have opened new frontiers for investment across the energy, agriculture, technology, aviation and hospitality sectors.
Uzodimma said: “The full meaning of Imo is Investment Meets Opportunities (IMO). In 2020, we inherited a state operating under an outdated model of economic development where the government wanted to build industries, run industries, own industries, and create businesses instead of focusing on governance. That approach had failed elsewhere in the world, and it was destined to fail here as well. Unsurprisingly, it did fail.

“We therefore changed the narrative. We repositioned government to focus on its core responsibility—creating an enabling environment where businesses can thrive—while allowing the private sector to drive investment and enterprise development.
“To achieve this, we conducted a comprehensive study on how to build a sustainable economy and establish a clear trajectory for growth in Imo State. We leveraged the commendable reform policies of the Federal Government and mobilized our resources to prepare the state for private-sector-led growth.

“We began with infrastructure. We connected our major cities with high-quality roads to facilitate the movement of people, goods, and services. As we advanced in this area, the federal government introduced reforms in the power sector, empowering sub-national governments to participate in electricity generation and distribution.

“Following the enactment of the Electricity Act 2023, we established the Imo State Electricity Regulatory Commission and licensed the Orashi Electricity Company through a Public-Private Partnership arrangement. Today, Imo State generates and transmits electricity. We have already provided reliable power to key industrial clusters around the state capital and are extending electricity to the senatorial headquarters across the state under Phase One of the project.”
According to the Governor, the state capital currently enjoys 24-hour electricity supply, while phase two would extend stable electricity to all local government areas in the state.

He noted that one of Nigeria’s greatest economic advantages was its vast natural gas reserves, pointing out that a significant portion of these resources is located in Imo State.

“To maximise this opportunity, we established an Energy Free Trade Zone, licenced by the federal government. It is the only free trade zone in Nigeria situated within a hydrocarbon-rich region.

“Within this zone, we have created an industrial park designed to attract gas-dependent industries, including petrochemical plants, fertilizer manufacturers, gas processing facilities, and energy distribution companies. Investors operating within the zone enjoy attractive incentives, including a 10-year tax holiday and other fiscal benefits.

“We have also established a Quality Assurance Centre to support agro-export businesses and ensure compliance with international standards.

“In addition, we rehabilitated the Imo International Airport for both cargo and passenger operations, enabling day-and-night flights. Last year, we commenced direct international flight operations. Beyond upgrading our road network and airport infrastructure, we are also developing the Orashi River into a viable water transportation corridor. This means investors in Imo State will have access to transportation by road, air, and water.

“To further enhance the ease of doing business, we have streamlined land acquisition processes. Investors can now obtain land titles and Certificates of Occupancy within 24 hours. In the area of technology and innovation, Imo State has developed the Imo Digital City, one of the most ambitious digital ecosystems in Africa.

“Through this initiative, we have trained over 65,000 young people in various digital skills, with more than 70 per cent already employed or running their own businesses. Although broadband penetration remains below 50 per cent, this presents significant opportunities for private-sector investment and collaboration. Our development model is anchored on Public-Private Partnerships because we believe government and investors must work together to drive sustainable growth,” Uzodimma added.

The Imo Governor stressed that his State remains an investment destination of choice.

“Last year, we hosted an international investment summit that attracted global leaders, policymakers, and investors. Distinguished participants included former heads of government, international development partners, captains of industry, and leading financial institutions. The summit reinforced confidence in Imo State as a competitive destination for investment.
“We have also harmonised our tax administration system, eliminating multiple taxation and reducing unnecessary burdens on businesses. Investors now benefit from a transparent and predictable tax environment.

“For the next decade, we have set an ambitious target of building a one-trillion-dollar economy. We intend to achieve this by leveraging strategic partnerships with the federal government, development institutions, and private investors.
“Imo State’s strategic location is another major advantage. Situated at the heart of the South-East, the state provides easy access to major commercial centres, including Onitsha, Aba, and Port Harcourt. These economic hubs can be reached within a short driving distance, offering investors access to one of the largest consumer markets in Nigeria.

“Furthermore, Imo State is richly endowed with oil and gas resources. We host several world-class oil-producing assets and possess the natural resources required to support industrial expansion and economic transformation.
“Doing business in Imo State has never been more attractive. Investors who have already taken advantage of these opportunities are excited about the prospects ahead.

“As the saying goes, seeing is believing. That is why I am here today—to invite investors from across the world to come to Imo State, see these opportunities firsthand, and become part of our growth story.”