Wale Edun: Imo Poised for Investment Growth

The Federal Government’s economic reforms are creating stronger opportunities for private-sector growth across Nigeria, with Imo State emerging as a rising investment hub, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has said.

Speaking on Thursday at the Imo State Economic Summit 2025, HM Edun commended Governor Hope Uzodimma for infrastructural upgrades, particularly in road networks and plans to provide 24-hour electricity across the state. “Imo is positioning itself as an investment-ready state,” Edun noted, adding that federal power-sector liberalisation now enables states and private partners to generate and distribute electricity. This, he said, reduces operational constraints for industrial and technology firms seeking to expand in the region.

Edun highlighted the wide-ranging investment opportunities available in Imo State, citing light manufacturing, agro-processing, pharmaceuticals, packaging, and building materials as key sectors primed for private-sector engagement. He emphasized Imo’s strategic location and access to major regional markets as a significant advantage for investors looking to tap into both local and international trade corridors.

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On the national economic outlook, Edun reported that Nigeria’s economy is currently growing at around 4 percent double the previous rate driven largely by industry and agriculture. “The Federal Government’s reforms in fiscal policy have doubled allocations to states, broadening local markets and creating more room for private capital,” he stated. He further highlighted that inflation continues to decline, enhancing household purchasing power and increasing consumer demand, which bodes well for both domestic and foreign investment.

The Minister praised the collaborative efforts of the federal and state governments in creating a conducive business environment. “We are moving from latent potential to rising opportunity,” Edun said, stressing that strong partnerships between Federal, State, and private-sector actors are vital to accelerating sustainable growth. He underscored that Imo State’s infrastructure upgrades, including road expansions and planned 24-hour electricity supply, make it a particularly attractive location for investors seeking stability and growth.

Edun also reaffirmed the Federal Government’s commitment to inclusive growth, highlighting ongoing and forthcoming social support initiatives aimed at uplifting vulnerable populations. He announced plans for a national mass savings scheme designed to mobilize investment from citizens and businesses, thereby fostering wider participation in the economy. “We are committed to creating an ecosystem where business and community growth go hand in hand,” he said.

Governor Hope Uzodimma was lauded for his proactive approach in implementing policies that support industrialization and private-sector development. Edun noted that Imo’s focus on sustainable infrastructure, energy provision, and market accessibility complements federal reforms, making the state a prime destination for investment.

The Minister urged private investors to explore opportunities not only in Imo State but across Nigeria, stressing that the government is working to reduce bureaucratic bottlenecks and enhance ease of doing business. He emphasized that strategic collaboration between government and investors is key to unlocking Nigeria’s full economic potential.

With reforms enhancing fiscal allocations, improving infrastructure, and liberalizing the energy sector, Nigeria is positioning itself as an attractive investment destination. Imo State, with its strategic location, modernizing infrastructure, and investor friendly policies, stands out as a gateway for industrial expansion, trade, and technological innovation in the Southeast region.

As the nation’s economy continues to grow, driven by industry and agriculture, both Federal and State governments remain committed to sustaining an enabling environment for businesses to thrive. Investors are encouraged to leverage the reforms, explore opportunities in key sectors, and contribute to building a more prosperous, inclusive, and resilient Nigerian economy.

The summit concluded with calls for stronger collaboration between government entities and private investors to harness Nigeria’s economic potential fully, positioning Imo State as a model for regional development and a leading investment hub in West Africa.