There was a convergence of opinion by the public and private sectors yesterday on the effect of President Bola Ahmed Tinubu’s reforms on the people and the economic climate.
Prosperity has been created and the right ecosystem put in place to facilitate investment, they said in Owerri yesterday at the Imo State Economic Summit.
The event attracted eminent personalities from across the world, who converged on the heartland of the Southeast, for the event organised by Imo State Governor, Hope Uzodimma.
Among the dignitaries was Vice President Kashim Shettima, who represented President Tinubu.
Liberian President Joseph Boakai; Prime Minister of Sao Tome and Principe Americo Ramos; former British Prime Minister Boris Johnson; former Secretary-General of United Nations Ban Ki-Moon and former Mauritius President Dr. Ameenah Gurib-Fakim.
Seventeen governors were present to support Uzodimma, chairman of the Progressives Governors Forum (PGF).
Ministers, including Wale Edun, Finance and Coordinating Minister of the Economy; Atiku Bagudu, Budget and Economic Planning and Minister of State for Industries, Trade and Investment, Owan Enoh also attended the Summit.
From the private sector were Alhaji Aliko Dangote, president of Dangote Industies; Ben Oramah, past president of Afrexim Bank; Managing Director of Fidelity Bank, Mrs. Nneka Onyali-Ikpe; Leo Stan Ekeh, Chairman of Zinox Technologies; Isha Sesay; and former CNN anchor, Ernest Nwapa; Dr. ABC Ojiakor; Ogbuagu Ernest Nwapa, Mr. Abdulrasak Isaiah, of Walmart, and Mr. Uzoma Dozie, of Sparkle Micro Finance Bank.
The Ooni of Ife, Oba Adeyeye Ogunwusi, and Dr. Cletus Ilomuanya, Obi of Obinugwu, were also there.
Others who attended are All Progressives Congress (APC) National Chairman, Prof. Nentawe Yilwatda, federal and state lawmakers, Deputy Governor, Dr. Chinyere Ekomaru, former Deputy Governors Placid Njoku; and Sir Jude Agbaso, members of Imo State Executive Council, Prof. Maurice Iwu, and former APC Chairman, Alhaji Abdullahi Ganduje.
President Tinubu’s reforms have created the right investment climate and fostered prosperity, Edun and Uzodimma said.
Edun, who alluded to the evidence of growth and an expanding fiscal capacity, described the regular power supply to the states as “the real game changer” that would transform the economy.
Edun said concerted efforts were being made to achieve “seven per cent growth rate annually;” urging the sub-national units to forge a critical partnership with the Federal Government.
Uzodimma lauded the Federal Government under Tinubu for creating centres of prosperity across the country.
We target 7 per cent growth annually, says minister
Edun lauded Uzodimma’s bold vision, noting that he has taken the advantage of President Tinubu’s economic reforms by developing an independent electricity project that will generate 24-hour power supply to the state.
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He described it as “the real game changer” that will transform the economy of Imo State.
Painting a bright picture of growth, Edun said: “Nigeria’s economy is growing and its fiscal capacity expanding as efforts were being made to achieve seven per cent growth rate annually.”
Uzodinma said: “We have pursued aggressive, but progressive reforms from which early movers and investors can benefit.
“The state government has removed bottlenecks that previously made doing business difficult and has interconnected our communities with over 100 new roads.”
The governor highlighted ongoing infrastructure and energy projects, including the Orashi Power Project, which will soon be operational.
He also drew attention to the Skill-Up Imo Initiative, which is producing thousands of skilled workers for the economy.
Uzodimma explained that the economic climate created by President Tinubu’s reforms made it possible for the sub-nationals to initiate developmental projects.
Uzodimma said land administration in Imo is now fully digitised.
He said: “The state government has digitised land administration, making it possible for Certificates of Occupancy to be issued within 24 hours.”
The governor emphasised the investment potential of the Orashi River Dredging Project, as well as the state’s mineral resources and the largest untapped gas deposits in West Africa.
He said: “Imo State is secure, ready and open for business. When opportunity meets preparation, good business happens. Bring your investments to Imo State now for higher investment returns.”
Dangote lauded President Tinubu for his bold policies that created the enabling environment for investment and prosperity.
Dangote described Nigeria as a “scratch card”, which one would scratch to access the potential.
He spoke of his huge plan to double the capacity of his refinery for 650,000bpd to 1.4mbpd, becoming the world’s largest.
He announced that his company would also become the largest producer of fertiliser in the world.
He urged Nigerian businessmen and entrepreneurs to invest in the country.
He drew attention to the abundant natural resources and potential in Nigeria, assuring the governor of Dangote Group’s partnership with the Imo State government.
Prof. Oramah highlighted the importance of the Orashi dredging project, emphasising its potential to enhance trade and improve the state’s economic infrastructure.
He announced the establishment of a multi-billion naira petro-chemical testing plant near the Sam Mbakwe International Cargo Airport.
He said the project would facilitate the testing of petrochemical products for export, positioning Imo State as a key player in the global petrochemical market.
Johnson: Nigeria is safe
Former British Prime Minister Johnson declared that Nigeria is safe and full of promise.
He added that Nigeria is set for remarkable economic growth.
He praised the quality of participants and the forward-looking agenda of the summit.
Johnson said: “It’s fantastic to be in Imo State. The summit has been very successful, judging from the stellar cast of guests. Nigeria has been acclaimed as the next country to witness increased FDIs because of its phenomenal growth potential.”
The former British leader, who acknowledged concerns about security, expressed satisfaction with what he observed during his visit.
He said: “I came with all the negative stories of security challenges, but I said I will come anyway.”
He added: “When I decided to come to Owerri, I read some stuff and some people say there may be some security problems and I said, well I’m gonna go anyway, but we are here today in this conference and we are all feeling safe and secured, and I feel perfectly safe, thank you Governor Hope Uzodimma for what you are doing.
‘Nigeria is Africa’s hope’
Liberian President Boakai, the Prime Minister of Sao Tome and Principe, Americo Ramos and the first female President of Mauritius, Ameenah Gurib-Fakim agreed that Africa is the rising continent of hope; and Nigeria a power hub with talents and vibrant youth population, producing entrepreneurs that will rule the world.
They called for a stronger partnership to unlock potential of Imo State, Nigeria and Africa.
The former president of Mauritius promised to bring in potential of renewal energy to the state.
Ki-Moon: Africa is important to the world
South Korea’s Ki-moon emphasised Africa’s potential in addressing climate change its unique resources and capabilities that could play a vital role in global environmental solutions.
He called for the strengthening of global partnerships to foster progress in combating climate change.
Tinubu: Unity key to progress
Represented by Shettima, President Tinubu called for national unity, saying a nation’s progress is not driven by isolated success, but by harnessing collective strength and shared responsibility for its economic direction.
He stressed that a nation’s true ascent is not achieved when only one part prospers while others lag behind.
The President said every part of the federation must harness its economic potential.
President Tinubu added: “No nation rises because one corner of its map ascends while others remain dormant; nations rise when they harness their strength and take responsibility for their economic direction.
“This is the spirit that has animated the economic summits taking place across the country today. It is the conviction that completes the ground picture of national development. This is why I am genuinely excited to share this moment with you today.”
The President highlighted Imo State’s vast potential.
Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
