Mazi Gburugburu proposes solutions to revitalizing Imo economy
A renowned Scholar and the Leader of The Mazi Organization (TMO), Dr. Chima Matthew Amadi, has proposed innovative solutions to the current economic challenges facing Imo State. He spoke at an interactive session on Friday, in Owerri, the Imo State capital. The session, attended by leaders of thought, opinion molders, academia, civil society groups, captains […]
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A renowned Scholar and the Leader of The Mazi Organization (TMO), Dr. Chima Matthew Amadi, has proposed innovative solutions to the current economic challenges facing Imo State.
He spoke at an interactive session on Friday, in Owerri, the Imo State capital.
The session, attended by leaders of thought, opinion molders, academia, civil society groups, captains of industries, and more, highlighted the need for urgent action to address the state’s economic challenges.
According to Dr. Amadi, Imo State has experienced a dynamic economic trajectory marked by periods of industrial growth, challenges with moribund industries, slowly evolving internally generated revenue (IGR), and insignificant contributions from diaspora remittances and the service sector.
Despite being rich in natural resources such as limestone, white clay, and fine sand, the state’s economy has suffered from neglect, policy inconsistency, and missed opportunities.
In his thought-provoking speech titled “Before Imo is Left Behind: My Vision of a New Imo State,” Dr. Amadi emphasized that Imo State is richly endowed with human capital, arable land, and a history of industrial ambition, but now stands at the precipice of economic obscurity.
He noted that the state’s once-thriving industries, such as Adapalm in Ohaji and Avutu Poultry in Obowo, have become a shadow of their former selves due to neglect and poor policy decisions.
Furthermore, Dr. Amadi highlighted the state’s poor performance on the Fiscal Sustainability Index, ranking 32nd in 2023, down from 29th in 2022.
He also noted that Imo State’s Foreign Direct Investment (FDI) has been relatively low compared to other states in Nigeria, with Lagos, Rivers, and Ogun states attracting significantly more investment.