Imo Reduces Debt Profile by 23%, Says Uzodimma
Gov. Hope Uzodimma of Imo says his administration has reduced the state’s debt profile from N126 billion to N97 billion, representing 23 per cent reduction. Uzodimma said this during a “State of the State Address” presented at the House of Assembly on Tuesday.
According to him, the reduction was a clear sign of his administrations’ prudent financial management. He also said that his administration had pursued reforms that not only increased the state’s revenue but also attracted investment and enhanced transparency.
He also said that his administration devised a modern digital revenue system to transform revenue collection and monitor revenue across all ministries, departments and agencies.
The governor said that the step had drastically reduced leakages and manual bottlenecks leading to an increase in the states monthly internally generated revenue from an average of N1.8 billion to nearly N4 billion.
He said that deliberate steps were also taken to improve the ease of doing business in the state through the successful implementation of the state action on business enabling reforms programme.
He said that the step improved the state’s World Bank ease of doing business ranking from 33rd in 2021 to 13th in 2023. He said that the state had also embraced the national COVID-19 action recovery and economic stimulus programme, christened Imo-Cares.
The governor said the initiative, jointly supported by the World Bank and Federal Government, was designed to cushion the harsh socio-economic impact of the pandemic and encourage community level recovery.
He said that over 400 households had received direct economic support, while no fewer than 98 communities had benefitted from development interventions under the programme. “We believe that governance must be both strategic and compassionate.
“While we drive reforms at the macro level, we are equally committed to touching lives at the micro level.
“Through Imo-Cares, we are laying the groundwork for grassroots economic recovery, restoring confidence among low income earners and giving dignity back to those who felt forgotten,” Uzodimma said.
He also outlined plans to improve the housing situation in the state through a public-private partnership with the Nigeria Capital Development fund. He said the first phase of the development of 500 housing units under the affordable housing scheme was underway.
Also, he told the lawmakers that at least 40,000 youths had been trained and equipped with startup toolkits under the state’s flagship human capacity development programme, which aimed to train 300,000 youths in critical digital skills.
The governor said this was in line with his administrations’ vision for inclusive, innovation driven growth, a decision, which led to the establishment of the ministry of Digital Economy and E-government.
He commended the Speaker, Mr Chike Olemgbe, and other members of the house for their steadfast partnership, describing their support as “instrumental to every milestone achieved”.
“Your commitment to development and the people mirrors the core values of this administration.
“Your support over the last five years has been instrumental to every milestone we have achieved,” he said.
Earlier in an address, the Speaker, Mr Chike Olemgbe, said that the governor had ensured that a harmonious relationship existed between the executive and legislature, creating a conducive environment for development.
He thanked the governor for most of the verifiable projects, which his administration had executed since his first tenure. # Imo Reduces Debt Profile by 23%, Says Uzodimma MTN Nigeria Delivers 78% Return on Investment Year to Date
