The Federal Government is committed to partnering with Imo State to improve investment opportunities and accelerate economic growth across key sectors.

Vice President Kashim Shettima spoke on Thursday at the Imo State Economic Summit 2025 in Owerri, themed the summit’s theme, “Unlocking Imo’s Economic Potential: Partnership, Investment, and Innovation.”

The vice president stated that the Tinubu administration is determined to work with the state government to unlock economic prospects and ensure communities benefit from sustainable development.

“All these possibilities converge to remind us that Imo is not just ready for investment; Imo is primed for transformation.

“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. To investors here today, the message is unmistakable: ‘Imo is open for business. Nigeria is open for business,’” he said.

Shettima identified Imo as a major pillar in Nigeria’s economic diversification plan, with high potential for growth in technology, gas utilisation, agro-industrial processing and small and medium-scale enterprises.

The vice president noted that national prosperity is only achievable when every state takes ownership of its economic direction.

“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,” the former governor of Borno State said.

Shettima urged Imo to adopt innovation as the foundation of its growth strategy, stressing that global competitiveness now depends on technology, talent and creativity, not solely natural resources.

“The most competitive nations today are those that invest in technology, cultivate talent and place innovation at the centre of their development agenda,” he said.

He disclosed that the Federal Government is already implementing programmes to empower young innovators, expand digital-skills training, strengthen tech clusters, build research partnerships and support emerging creative-economy players.

“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,” the VP said.

Shettima outlined priority sectors capable of driving Imo’s economic resurgence, including Free Trade Zones, Special Agro-Industrial Processing Zones, expanded gas utilisation for homes and industries, and the development of robust digital infrastructure to attract ICT firms.

The vice president affirmed the Federal Government’s commitment to investor protection, policy stability and structured public-private partnerships across housing, transport and renewable-energy sectors.

He also highlighted access to financing from development institutions such as the Bank of Industry (BoI) and the Development Bank of Nigeria.

The summit attracted global and local leaders who commended the state’s economic direction and pledged support.

The President of Liberia, Joseph Boakai, has expressed strong confidence that Imo State can undergo significant transformation through innovation.

President Boakai stated this on Thursday in Owerri, the Imo State capital, during the 2025 Imo Economic Summit hosted by Governor Hope Uzodimma.

“Innovation can become the engine that drives Imo’s transformation,” the Liberian leader said at the event, which attracted top dignitaries from across the world.

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.”

President Boakai also noted that Liberia shares several similarities with Imo State in southeastern Nigeria.

“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 said.

Boakai further stated that Liberia’s recent elevation to a non-permanent seat on the United Nations Security Council is not only an honour for Nigeria but for Africa as a whole.

He added that the development serves as a reminder that African nations can play constructive roles in shaping global stability and post-conflict recovery.

The Liberian President expressed optimism that Imo State and Liberia can collaborate through regional alliances focused on development and democratic governance.

The first female president of Mauritius, Ameenah Gurib-Fakim, believes Nigeria is on the path to becoming Africa’s powerhouse.

Gurib-Fakim says Nigeria is a power hub in the making and interestingly the country has got some of the richest and most entrepreneurs coming out of the nation for example the expansion of Dangote Group across Africa.

The ex-president who said this at the Imo State Economic Summit 2025 held in Owerri, asked African countries to take destiny in their hands, identifying leadership as a key ingredient to help the continent reach its potential.

She praised the resilience of Nigerian youth, hailing their talent and energy.

Gurib-Fakim said, “If you look at the country like Nigeria, ladies and gentlemen, Nigeria, one in five Africans is Nigeria and this will stand to rise because by 2050, one in two working age adults will be African and by 2100 one in two will be African and you can imagine in terms of demography what this represents in terms of potential and Nigeria is a powerhouse.

“So, hope is permitted and allowed. And I have no reason to believe that this country of Nigeria will not do well in the future because Nigeria, just like Africa, Nigeria is rising,” the former president told the gathering.

The former president was not the only high-profile dignitary from within and outside the continent that attended the event.

At the ceremony, Dangote commended President Bola Tinubu for his efforts and bold economic steps like the removal of subsidy.

According to him, the benefits of the moves have tricked down to every Nigerian.

He asked Nigerian entrepreneurs to invest at home and help in attracting foreign investments.

Others who were at the outing included the former Prime Minister of the United Kingdom, Boris Johnson; Minister of Finance, Wale Edun; Vice President Kashim Shettima among others.

President Bola Tinubu of Nigeria was represented at the event by Vice President Kashim Shettima.

In his welcome address, Imo State governor, Hope Uzodinma, commended President Tinubu’s intentional reform policies, which he said have reset Nigeria’s investment space.

He noted that Imo State had since keyed into the reforms of the President, with the aim of taking the lead in regional development.

Governor Uzodinma said the state, under his leadership, had since utilized its unique landmass and abundant natural resources in providing the ideal environment for investors and businesses to thrive.

“We are blessed with the largest game reserve estimated at 200 trillion cubic feet. So, for those looking for business in gas exploration and utilization, Imo State is the destination.

“We also have other resources like lead, zinc, crude oil, cotton, etc. The incentives are ready and agriculture is our mainstay as the heartland of Eastern Nigeria. We also boast of the 3rd highest human capital development index in the country,” the governor stated.

He also coined a meaning for the name of the state, describing it as a place where Investment Meets Opportunities (IMO) and business follows.

Also, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in his goodwill message, said the private sector is key to investment at all levels.

He commended the governor of Imo State for taking the right steps towards repositioning the state’s economy.

Edun noted that the impact of the Nigerian economy is measurable, saying the economy, under President Tinubu, is growing faster than it was over a decade ago, and that more progress will soon be recorded.

For his part, the 8th Secretary General of the United Nations (UN), Ban Ki Moon, in his keynote address, described the summit as a gathering of great significance.

He said addressing global uncertainties is vital, and initiatives like the Imo Investment Summit will help create a more peaceful society.

Moon noted that Africa holds the key to unlocking most of the challenges the world is currently facing, including the Sustainable Development Goals (SDGs).

“Without addressing the challenges Africa is facing, we would not say we have a sustainable world.,” he said, just as he requested for a special technology fund support for the continent.

The former UN scribe stated that implementing the resolutions of the summit will help enhance Imo State’s socio-economic development and help elevate prosperity as well as transform the state into an investment hub.

In his goodwill message, President/Chief Executive of Dangote Industries Limited, Aliko Dangote, hailed the good policies of the Tinubu administration, which he said provided the right atmosphere for business.

The richest man in Africa urged Nigerian businessmen to continue to invest at home, assuring Governor Uzodimma that the Dangote Industries “will be one of your biggest investors in Imo.”

Immediate-past Executive Vice President of AFREXIM Bank, Benedict Oramah, said Afrexim bank is currently building a multi-million dollar facility in Imo State to help support the production and export of quality compliance products for export to the global market.

He commended Governor Uzodinma for opening up the state for business through the Orashi River dredging and special economic zone project.