President Bola Ahmed Tinubu has said Nigeria’s economic progress depends on every region taking responsibility for its development, stressing that no nation grows when only one part advances while others remain stagnant.
Speaking at the Imo State Economic Summit in Owerri on Thursday, the President, represented by Vice President Kashim Shettima, said the theme of the summit, “Unlocking Imo Economic Potential,” aligns with the national vision for shared prosperity.
“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,” he said.
Tinubu said the economic summits being held across the country demonstrate a collective resolve to drive national development. He praised Imo State’s vast economic prospects, describing its hospitality and opportunities as “unimaginable.”
He noted that the summit aims to unlock the state’s economic potential through partnership, investment, and innovation, adding that federal reforms are designed to ensure long-term stability and prosperity.
“Imo State should be a place of abundance,” he said, listing opportunities in free trade zones, agro-processing, gas utilization, digital infrastructure and access to financial institutions. “Imo is not only ready for investment; Imo is primed for transformation.”
The President assured investors that the Federal Government will work with the state to de-risk investments and ensure equitable benefits for communities.
Tinubu also emphasized the importance of innovation in modern development. “The most competitive nations today invest in technology and place innovation at the centre of their development agenda. Imo State must position innovation as a key strategy,” he said.
He urged Nigerian leaders and investors to commit to building the country’s future. “By 2050, Nigeria will be the world’s third most populous nation… I am proud to be called a Nigerian,” he added.
Liberian President Joseph Boakai; Sao Tome and Principe’s Prime Minister, Americo Ramos; and former Mauritius President, Amina Akim, described Africa as a rising continent of hope with Nigeria as a talent-rich hub capable of producing world-class entrepreneurs.
They called for stronger partnerships to unlock the potential of Imo State and the wider continent. Akim also pledged support for renewable energy initiatives in the state.
Governor Hope Uzodimma said the summit marks a historic turning point for Imo State as it repositions itself as a destination where “Investment Meets Opportunities.” He highlighted the state’s strategic location, abundant resources and improved business environment.
Uzodimma said national reforms under President Tinubu have created a favourable investment climate, aligning with the state’s ambition to contribute to a $1 trillion national economy. He noted Imo’s geographic and market advantages, its diverse agricultural sector and its substantial natural resources.
“Imo has the largest proven gas reserves in West Africa,” he revealed, urging investors to explore opportunities in the energy sector.
He said the state has constructed more than 120 strategic roads and is working to improve power supply. He announced the upcoming Light Up Imo Project to deliver 24-hour electricity.
On land administration, the governor introduced the Imo Land Information Centre, which he said replaces a fraud-prone system with an efficient automated process.
“Imo State is ready to house your investments,” he said.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, praised the governor’s vision and the state’s independent electricity project, describing it as a “game changer.” He said Nigeria’s economy is expanding as efforts intensify to achieve a 7% annual growth rate.
Former United Nations Secretary-General, Ban Ki-moon, underscored Africa’s potential in global climate solutions and called for stronger international partnerships.
Former UK Prime Minister Boris Johnson hailed Nigeria’s investment prospects and commended Governor Uzodimma for improvements in security, infrastructure and electricity.
“I feel perfectly safe… your focus on electricity is absolutely right,” he said.
Former President of the African Export-Import Bank, Prof. Benedict Oramah, reaffirmed the bank’s support for major economic projects in Imo, including the Orashi River dredging and a multi-billion-naira petrochemical testing facility near the Sam Mbakwe International Cargo Airport.
Chairman of the Dangote Group, Aliko Dangote, praised the President’s economic reforms and urged Nigerian entrepreneurs to invest in the country, assuring the governor of the Group’s partnership.
The summit drew foreign diplomats, industry leaders, investors, financial executives, traditional rulers, clergy, and over 17 state governors. Members of the National Assembly, top federal and state officials, and notable dignitaries including Prof. Maurice Iwu, APC National Chairman Prof. Abdullahi Ganduje and Oba Adeyeye Enitan Ogunwusi, the Ooni of Ife, were in attendance.
