Imo economic summit: FG identifies Imo as new growth frontier, pledges to de-risk investments in gas, tech

...as Dangote vows to be Imo's biggest investor

The Federal Government has designated Imo State as a critical pillar in Nigeria’s economic diversification strategy, citing the state's readiness for rapid expansion in gas utilization, technology, agro-industrial processing, and small and medium-scale enterprises (SMEs).

Vice President Kashim Shettima made this declaration on Thursday at the Imo State Economic Summit 2025 in Owerri. Speaking on the theme ‘Unlocking Imo’s Economic Potential: Partnership, Investment, and Innovation’, Shettima affirmed the Tinubu administration's commitment to de-risking private investments to ensure long-term stability and growth.

The Vice President outlined a financing framework intended to support this growth, stating that the government is actively working to provide access to capital through the Bank of Industry (BoI) and the Development Bank of Nigeria (DBN).

He also highlighted the deployment of structured Public-Private Partnerships (PPPs) in housing, transport, and renewable energy sectors as key drivers for the state’s development.

Shettima emphasized that high-growth sectors such as Free Trade Zones, Special Agro-Industrial Processing Zones, and digital infrastructure are being prioritized to attract ICT firms and fuel a modern, information-driven economy.

He noted that global competitiveness is now shaped by innovation and talent rather than natural resources alone, urging the state to position itself as a technology hub and a major contributor to the national GDP.

Presenting the state's value proposition, Governor Hope Uzodinma revealed that Imo holds an estimated 200 trillion cubic feet of gas reserves, making it a prime destination for energy investors.

He described the state as a location where "Investment Meets Opportunities," pointing to abundant resources in lead, zinc, crude oil, and cotton, alongside a strong human capital development index.

Uzodinma noted that his administration has reset the investment climate to allow businesses to thrive.

The summit garnered significant private sector interest, with the President of Dangote Industries Limited, Aliko Dangote, vowing to become one of the largest investors in the state.

Dangote commended the federal government's policy direction and urged Nigerian business leaders to prioritize domestic investment.

Also backing the state's economic agenda, the immediate past Executive Vice President of Afreximbank, Benedict Oramah, disclosed that the bank is currently constructing a multi-million dollar facility in Imo. This project is designed to support the production and certification of quality-compliant products for the global export market.

Oramah praised the state government for opening up the Orashi River dredging project and the special economic zone.

Validating the macroeconomic outlook, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated that the Nigerian economy is currently growing at a faster rate than it has in over a decade.

He reiterated that the private sector remains the primary engine for investment and commended Governor Uzodinma for aligning the state with federal economic reforms.

Former UN Secretary-General Ban Ki-Moon and former Mauritian President Ameenah Gurib-Fakim provided a global perspective, describing Nigeria as a powerhouse capable of leading Africa’s resurgence.

Ban Ki-Moon advocated for a special technology fund for the continent, noting that Africa holds the key to achieving Sustainable Development Goals, while Gurib-Fakim pledged to attract renewable energy investors to the state.

Vice President Shettima concluded by challenging stakeholders to shift from dialogue to execution, urging that the summit must result in signed partnerships and funded projects that create measurable economic outcomes.