Hope Uzodimma, the governor of Imo State, has credited the economic reforms of President Bola Tinubu for the sharp increase in Imo State’s revenues, saying the state’s monthly allocation from the Federation Account Allocation Committee (FAAC) rose from about ₦100 million after salaries in 2020 to over ₦10.7 billion following the removal of fuel subsidy.
Uzodimma also said the state’s internally generated revenue had increased from less than ₦400 million to nearly ₦6 billion monthly, while its debt profile had dropped from ₦287 billion in 2020 to less than ₦90 billion.
The governor made this known at the Government House in Owerri while receiving members of the Renewed Hope Ambassadors the Media Team who toured infrastructure projects across the state.
Drawing parallels between Nigeria’s current reforms and the biblical journey of the Israelites from Egypt, Uzodimma urged Nigerians to remain patient with the Tinubu administration.
“I want to liken what is happening today in Nigeria to the experience of the Israelites in the book of Exodus,” he said.
“Everything God did for the Israelites; all the wars that the Israelites won. God did not ask for anything but gratitude. He gives us therefore a lesson to our day-to-day living on earth.”
According to him, Tinubu assumed office with a clear understanding of the reforms required to reposition the country.
“When on May 29, 2023, President Bola Ahmed Tinubu was sworn in and he started rolling out reform policies, he was a man who was prepared, who understood clearly what he came to do as president,” Uzodimma said.
Recalling the financial situation he inherited after assuming office in January 2020, the governor said the state had virtually no funds after paying salaries.
“In 2020, January 15 when I was sworn in to be governor of this state, the Accountant-General told me they were going for FAAC. He came back from the FAAC meeting. I thought he was going to bring money. He told me after salary we had only ₦100 million.
“Immediately May 29, 2023 came, after FAAC I saw over ₦10.7 billion. I said, ‘What?'”
He added, “So when people were trying to oppose removal of subsidy, I had to put my belt and my jeans, I came out and said subsidy must be removed.
“So whatever this man has done to make us have access to funds to help the people. Today I am indeed very happy and glad that we were able to deploy these resources to visible programmes and projects.”
Uzodimma said the additional revenues had enabled the state to improve its finances significantly.
“I met an IGR of less than ₦400 million in 2020. My IGR is very close to ₦6 billion a month now.
“I met a debt profile… in 2020, we were owing ₦287 billion. Today, as I speak to you, we are less than ₦90 billion. So day by day we are reducing the debt profile so that the state can become very sovereign.”
He also highlighted improvements in transportation and electricity infrastructure across the state.
“In 2020, movement from one end of Imo State to another took an average of two to three hours. As I speak, it is under 45 minutes.
“As today I speak, we generate, we transmit, we distribute electricity. In Owerri capital, including this Government House, this is homemade electricity. By the end of this year, we will continue to expand to the local government areas. Imo is ready for business.”
Uzodimma argued that governance and visible projects constituted the best form of political campaign.
“People are talking about campaigns. From May 29, 2023, President Bola Ahmed Tinubu started his campaign for a second term.
“Campaign is getting people to believe or buy into your vision as a leader who has come to do what you desire.”
He insisted that infrastructure delivery was a better use of public resources than online political propaganda.
“Rather than spending ₦2.3 billion to dominate the social media, is it not better we use it to do quality roads so that you can come and see for yourself? So sustainable development, that is the business we are doing here.”
The governor maintained that the projects executed in Imo were made possible by the Federal Government’s economic reforms.
“What you have seen, it is only possible because of the reform policies of the Renewed Hope Agenda of President Bola Ahmed Tinubu.
“Our people have already decided that they want President Bola Ahmed Tinubu back as president because without him and his policies and programmes, this environment we are enjoying today would have been very impossible to achieve.”
Earlier, Sunday Dare, Special Adviser to the President on Media and Public Communications, said the media tour had showcased the impact of both federal and state projects under the Renewed Hope Agenda.
He said the delegation had visited infrastructure projects across the North-West, Ebonyi, Enugu, Abia and Imo states.
“With about 60 journalists from 45 media houses, television, radio, online publishers and influencers, we went out to show Nigerians that we are experiencing fundamental changes under President Bola Ahmed Tinubu,” Dare said.
Highlighting projects inspected in Imo, he said the team visited facilities in aviation, roads, transportation, health, education, energy, commerce, urban renewal and the digital economy.
Dare singled out the Imo Digital City for special praise.
“When we got to the Imo Digital City we all took a pause and bowed our heads. I’m sure none of us have ever seen that kind of investment.
“It is a foresight that must be saluted. It is a foresight that deserves credit. It shows clear thinking and it shows the presence of mind that leaders must be ready for the challenges of the 21st century.”
He added that the project aligns with Tinubu’s digital economy agenda.
“The Imo Digital City plugs clearly into the digital economy vision of President Bola Ahmed Tinubu. The Imo Digital City is the icing on the cake of your infrastructure projects.”
Imo State’s major infrastructure projects cover aviation, roads, healthcare, education, energy, commerce, digital economy, government infrastructure and the environment. They include the upgrade of Sam Mbakwe International Cargo Airport, reconstruction of major roads and the Assumpta Flyover, upgrades at General Hospital Okigwe and IMSUTH, the Senator Oluremi Tinubu Mother and Child Hospital, investments in universities, the ANOH Gas Processing Plant and Orashi energy projects, the reconstruction of Douglas Market and New Orlu Market, the Imo Digital City and Land Information Centre, the Emmanuel Iwuanyanwu International Conference Centre, the rehabilitated Concorde Hilton Hotel, the Federal Secretariat, Government House, the Imo State House of Assembly Complex, the ongoing Inland Revenue House, rehabilitated local government headquarters, and the Ideato Gully Erosion Control Project.
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