Imo State is set for accelerated growth, with the Vice President naming it a key pillar in Nigeria’s economic diversification agenda, particularly for small businesses, agro-processing, and gas utilisation. Speaking at the Imo State Economic Summit 2025 in Owerri, he noted that the Federal Government is opening new financing pathways for entrepreneurs through the Bank of Industry and the Development Bank of Nigeria, providing facilities that support SMEs seeking to scale, innovate, or enter new markets.
He also pointed to upcoming Public-Private Partnerships in housing, transport and renewable energy, initiatives expected to create more business opportunities and stimulate youth-led ventures across the state. The message underscored a push toward job creation, sustainable growth and a stronger private-sector base in Imo. Stakeholders at the summit described the announcements as a timely boost for micro and small enterprises that continue to struggle with access to capital, infrastructure gaps and market barriers. With improved financing windows, many MSMEs in food processing, fabrication, tailoring, logistics, tech services and retail could gain easier entry into formal business structures, expand production capacity and hire more workers.
Beyond funding, conversations at the summit centred on industrial clusters, digital-skills development and the need to strengthen local value chains from farm to market. Participants highlighted the potential of Imo’s agro corridor to supply raw materials for processing hubs in palm oil, cassava, rice, spices and livestock and how such activities could feed export markets when quality, packaging and storage improve. Many believe that with reliable electricity and functional transport networks, small-scale manufacturers will find it easier to process goods at competitive cost, increasing revenue and reducing post-harvest losses for rural producers.
The Vice President noted that national prosperity is only possible when every state unlocks its economic potential and contributes to collective progress. “Nations rise when every part discovers its promise and takes responsibility for its own economic direction,” he said. His remarks signalled a call to state actors to deepen collaboration with the private sector, invest in innovation hubs, and support a business environment where young founders and artisans can build sustainable enterprises without excessive bureaucratic hurdles.
Imo officials also expressed readiness to partner with industry players, investors and development agencies to accelerate infrastructure renewal and expand job-creating sectors. If executed effectively, the new interventions could position Imo as a competitive manufacturing and tech-support base in the South East, shaping a future where thriving SMEs drive growth, reduce unemployment and improve livelihoods across communities.
