Shettima urges states to drive devt, boost economy

Vice President Kashim Shettima has said that sub-nationals are key to national development, and therefore called on the 36 states of the federation to harness their vast potentials.

Shettima stated this yesterday at the Imo State Economic Summit 2025 held in Owerri, the state capital.

Some of the dignitaries that graced the occasion included the President/Chief Executive of Dangote Industries Limited, Aliko Dangote; former Secretary General of the United Nations (UN), Mr. Ban Ki Moon; former United Kingdom (UK) prime minister, Boris Johnson; the President of Liberia, Joseph Boakai; the first female elected President of Mauritius, Ameenah Gurib-Fakim; the Minister of Finance and Coordinating Minister of the Economy, Chief Wale Edun, and the former president of the African Export–Import Bank (Afreximbank), Benedict Oramah, among others.

Shettima, in a statement by his spokesman, Stanley Nkwocha, said national prosperity could only be sustained when every state takes ownership of its 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,” he said.

The Vice President 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 reform agenda to build a resilient, competitive and inclusive economy.

He identified Imo State as a major pillar in Nigeria’s economic diversification agenda primed for rapid growth in technology, gas utilisation, agro-industrial processing and small and medium-scale enterprises (SMEs).

He said the government was committed to providing access to financing through the Bank of Industry (BOI) and the Development Bank of Nigeria (DBN), alongside structured Public-Private Partnerships in housing, transport, and renewable energy sectors for the state.

Reaffirming the Federal Government’s commitment to investor protection and confidence-building, Shettima assured that the Tinubu administration would continue to de-risk private investments and provide consistent policy direction.

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

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.

“We are blessed with the largest 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.

On her part, the first female elected President of Mauritius, Ameenah Gurib-Fakim, urged Africa to take its place in the global market, pointing out that Nigeria is a powerhouse that should lead the way in that regard.

Edun, in his goodwill message, said the private sector is key to investment at all levels and commended Imo State for taking the right steps towards repositioning the state’s economy.

Ban Ki Moon, in his keynote address, described the summit as a gathering of great significance, saying addressing global uncertainties is vital, and initiatives like the Imo Investment Summit will help create a more peaceful society.

Dangote, hailed the good policies of the Tinubu administration, which he said provided the right atmosphere for business.

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