Vice President Kashim Shettima has identified Imo State as a strategic pillar in Nigeria’s economic diversification agenda, positioning the state for rapid growth in technology, gas utilisation, agro-industrial processing and small and medium-scale enterprises (SMEs).
Shettima stated that the Federal Government is committed to supporting the state through access to financing from the Bank of Industry (BOI) and the Development Bank of Nigeria (DBN), as well as structured Public-Private Partnerships (PPPs) in housing, transportation and renewable energy.
The Vice President spoke on Thursday at the Imo State Economic Summit 2025 held in Owerri.
He said sustainable national prosperity could only be achieved when every state takes responsibility for its own 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,” Shettima said.
He described Imo’s economic prospects as unmistakable, stressing that 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 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,” the Vice President said.
Shettima listed high-growth sectors that could drive Imo’s economic resurgence to include Free Trade Zones, Special Agro-Industrial Processing Zones, expanded gas utilisation for households and industries, and the development of robust digital infrastructure to attract ICT firms and fuel a modern knowledge-based economy.
He reaffirmed the Federal Government’s commitment to investor protection, assuring that 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 promising ventures and ensure that the benefits of development are felt across communities. Imo is open for business. Nigeria is open for business,” he said.
The Vice President further stressed that global competitiveness is now driven by innovation, talent and technology, urging Imo to place innovation at the heart of its growth strategy.
He disclosed that the Federal Government is already implementing programmes to empower young innovators, expand digital skills training, strengthen tech clusters, promote STEM education and deepen research partnerships with universities.
“The young people of Imo are creative, ambitious and connected to the global knowledge economy. Our duty is to give them the tools, the platforms and the confidence to build the future that awaits them,” he added.
Shettima said with effective partnerships and investments, Imo could emerge as a technology hub, a major contributor to national GDP, a magnet for the creative economy and a leading centre for SMEs and industrialisation.
He urged stakeholders to move beyond discussions to concrete actions. “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,” he said.
In his welcome address, Governor Hope Uzodinma commended President Tinubu’s reform policies, describing them as a reset of Nigeria’s investment climate.
He said Imo had aligned with the Federal Government’s reforms to take the lead in regional development, leveraging its landmass and abundant natural resources.
“We are blessed with the largest gas reserves estimated at 200 trillion cubic feet. For those looking for business in gas exploration and utilisation, Imo State is the destination,” Uzodinma said.
He also cited the availability of lead, zinc, crude oil and cotton, adding that agriculture remains the economic mainstay of the state. He noted that Imo boasts of the third highest human capital development index in Nigeria.
The governor described Imo as a place where Investment Meets Opportunities (IMO), adding that business will continue to thrive under his administration.
Former President of Mauritius and Africa’s first elected female president, Ameenah Gurib-Fakim, urged Africa to take its rightful place in the global economy, describing Nigeria as a powerhouse that must lead that journey. She pledged to attract renewable energy investors to Imo State.
The Minister of Finance and Coordinating Minister of the Economy, Chief Wale Edun, said the private sector remains critical to investment at all levels. He commended Governor Uzodinma for repositioning the state’s economy and added that Nigeria’s economy is growing faster under President Tinubu than it did over a decade ago.
Former United Nations Secretary-General, Mr Ban Ki-moon, described the summit as highly significant, noting that Africa holds the key to tackling many global challenges, including the Sustainable Development Goals (SDGs). He called for a special technology fund to support the continent.
In his goodwill message, President and Chief Executive of Dangote Industries Limited, Aliko Dangote, praised the Tinubu administration for creating a conducive business environment and pledged that Dangote Industries would be “one of the biggest investors in Imo State.”
Also speaking, former Executive Vice President of Afreximbank, Mr Benedict Oramah, disclosed that the bank is building a multimillion-dollar facility in Imo to support the production and export of quality-compliant products to the global market.
He commended the state government for opening up Imo for business through the Orashi River dredging and special economic zone project.
