Leverage your comparative advantage for economic growth, Tinubu to states

President Bola Tinubu, on Thursday, said a focused state-by-state economic strategy is central to achieving long-term stability and prosperity for the nation.

Tinubu said this at the Imo Economic Summit 2025, held in Owerri, on Thursday.

The theme of the summit is “Unlocking Imo’s Economic Potential: Partnership, Investment and Innovation”.

The president, represented by Vice President Kashim Shettima, said that the Federal Government’s far-reaching economic reforms were designed to support individual states in unlocking opportunities within high-growth sectors, from digital infrastructure to special agro-processing zones.

“There is no greater accelerator of national growth than to stir each state towards its comparative advantage,” he said.

He commended Gov. Hope Uzodimma for his economic strategy, transformational and visionary leadership, aimed at transforming the state through the summit.

The president further lauded Uzodimma’s development of digital infrastructure, and the partnership in the transport, housing and renewable energy.

According to him, Imo has tremendous opportunities to explore high growth sectors, including the free trade and special agro processing zones, to accelerate value creation in the state.

He said: “We see expanded gas utilisation to power industries and households to guarantee affordability and reliability.

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

“The Federal Government stands ready to support Imo in these investment area.

“Our role is to work with you to unlock opportunities to these promising ventures and ensure that the benefits of these investments are felt in communities.”

Tinubu also said that the Federal Government was already implementing programmes that empower young innovators to expand their digital skills.

“This is a nation waiting to unleash her potential,” he said, while urging investors to invest, not just in Imo, but in the country.

In his address of welcome, the governor said that “IMO” stands for Investment Meets Opportunities.

He also said that through Tinubu’s intentional reform policies, the general investment environment in the country had become clement.

He said the removal of fuel subsidy, strategic harmonisation of the foreign exchange market, market liberalisation, and fiscal stability, have created a fertile environment for the private sector to thrive

“The national momentum is the backdrop for our own initiative and reinforces our drive for a One billion US Dollars economy, which is synchronised in the Federal Government’s agenda of revival and renewal,” he said.

Uzodimma said that his administration had laid the foundation for investments and businesses to grow through the provision of safety nets, such as security, power and infrastructure.

He further said that road infrastructure, reliable electricity,

digital talent and transparent land administration, had been given all the seriousness they deserved.

He further disclosed that the first phase of light-up Imo project, from the Indigenous Orashi Electricity Company, would be inaugurated soon to give steady electricity to the state.

“There will be no more generator economy, no more production downtime and no more excuses to 24/7 electricity supply,” he said.

He further said that the state offers unrivaled sectorial potential in energy and technology by boasting of the largest natural gas reserve in West Africa.

He urged investors looking for opportunities in the various sectors to see Imo as their destination.

In a remark, former Prime Minister of the United Kingdom (UK), Mr Boris Johnson, said that “Nigeria’s trajectory population points to an investment hub of the future”.

Johnson said that the historic and language ties as well as economic partnership between Nigeria and the Uk had benefitted the two nations over the years with more potential for mutual investments.

Also, former Secretary-General of the United Nations, Ban Ki-Moon, advocated for fund and technological support for Africa to combat climate change.

Ki-Moon also expressed concern that member states were not actively implementing the Sustainable Development Goals.

He called for more equal opportunities for women and also advocated for the achievement of global partnership for global prosperity.

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