IMO STATE GOVERNMENT SECURES POST COVID-19 BUSINESS DEVELOPMENT GRANT SCHEME
3,500 IMOLITES FROM THE 27 LGA SET TO BENEFIT.
His Excellency, Distinguished Senator Hope Uzodinma represented by the Deputy Governor, Prof. Placid Njoku, flags-off the economic stimulus package programme of the Imo State Government for 3,500 beneficiaries drawn from the 27 Local Government Areas of the State, at the Ahiajoku Convention Centre.
This is in pursuit of the Governor’s promise to deliver good governance, anchored in the 3R-Agenda of the Government of Shared Prosperity.
The 5 – Day – Capacity Building Programme Workshop/training, is being organized by the Central Bank of Nigeria (CBN) and NIRSAL, in collaboration with the Imo State Government, for business support and Recovery Grant Scheme, designed for Cottage Industries and Cooperatives.
The training/workshop, flagged off today will be organized simultaneously in the 3 Senatorial Zones, under the Ministry of Commerce and Industry.
Hope Uzodinma, 100 Days in Office and Imo State Post-Covid-19 Economy
It’s no secret that global crude oil prices are falling into the negative- what this means is, that no revenue is being generated from crude oil sales at the moment. While government all over the world battle the Coronavirus, putting a halt on economic activities to wipe out the deadly virus, it’s pertinent to note that the post-Convid era will wreak more devastation to the economy than the Coronavirus has done.
At the moment, crude oil sales is responsible for 90% of Nigeria’s forex earning and also responsible for a chunk of it revenue. If no alternative is created, the post-convid economy will leave a destruction many can’t fathom.
This demands that any visionary government should see beyond it nose and begin to diversify it economy away from oil. Thankfully, in Imo state, the late Michael Oparah and Sam Mbakwe saw this many years ago and began to tilt the economy of the state towards agriculture, which they saw as the new frontier for economic prosperity. Unfortunate to say that this was abandoned by their predecessors uptill this moment.
On assuming office few days ago, HE Hope Uzodinma, ever visionary and proactive, saw today before it came and began to prepare Imo State for what’s to come. The first industry HE identified just like his cerebral predecessors was Agriculture. On being sworn in, he immediately ordered the Interim Management Committee of Adapalm-Imo state Palm oil Plantation to to sit up and get to work for the interest of the state by blocking all sources for leakage at the plantation.
Today, Adapalm is returning profits and will soon become the catalyst that will spur the Imo economy of shared prosperity. You might be wondering how? Let me explain.
With increased focus on Palm Oil production, Imo state can look towards the Malaysian and Indonesian option by extracting other derivatives from Palm oil and building a vibrant economy on it.
Derivatives from palm oil are used in the manufacturing of cookies, soaps, detergents, preservatives, adhesives, binders, cosmetics and a whole range of other products. It is estimated that 3 billion people in 150 countries use products containing palm oil.
According to FAO forecasts, by 2020 the global demand for palm oil will double, and triple by 2050. This is provides an enormous opportunity for Imo state and HE, Hope Uzodinma saw this a long time ago and is keen to tap from the industry to prosper Imo state. As at 2012, the Malaysian Palm Oil industry had 491,000 Malaysians in it employ. This is one of the so many reasons why HE Hope Uzodinma, revamped the Adapalm plantation, moribund since 2005- to create jobs massively for Ndi Imo and create revenues for the state.
In 2018, Malaysia earned, $16b from exporting palm oil, this is half of the total Nigeria 2019 budget.
I commend HE, Hope Uzodinma for being visionary and seeing what others couldn’t by realizing that agriculture hold the key to industrialization and massive job creation. We thank him for revamping the Adapalm and with increased focus on Adapalm, it will give have the impetus to fight for a share of the global palm oil market and create massive chain of industries from palm oil, thereby creating jobs and revenue for Imo State.
-Obi Trice Emeka
GOVERNOR IHEDIOHA SWEARS-IN NEW ECONOMIC ADVISER
On Monday, His Excellency, Governor Emeka Ihedioha, swore-in Dr Abraham Nwankwo as the Chief Economic Adviser to the State.
Dr Abraham Nwankwo before his appointment served as the the Director-General of Nigeria’s Debt Management from 2007. He joined the agency as an Assistant Director in 2001.
Dr. Abraham Nwankwo holds a Ph.D degree in Economics from the University of Nigeria Nsukka, where he also obtained his Bachelors and Masters degrees in the same discipline. He was the first PhD graduate in Economics produced by the University of Nigeria Nsukka, 25 years after the institution was established.
After a few years of lecturing at the same University, Dr Nwankwo enjoyed a versatile career in banking and finance where he rose to top management positions.
Dr. Abraham Nwankwo veered into public service in 2001 when he joined Nigeria’s Debt Management Office. In 2007 he became the Director-General of the agency.
As the DG of Nigeria’s Debt Management Office, Dr Abraham Nwankwo conducted a Debt Sustainability Analysis of every State to determine whether or not to approve each request for new borrowing. The analysis led to a significant reduction and mitigation of risk of over-borrowing by the States.
Dr Abraham Nwankwo has also been on the Board of the World Bank, where he served as the Senior Advisor to the Executive Director (Africa II Constituency).
Dr Abraham Nwankwo is the author of over 5 books, which includes his 2011 Economics classic — Stable Growth and Foreign Exchange.
Imo Bu Nke Anyi.
GOVERNOR IHEDIOHA FLAGS OFF 60 BILLION NAIRA AFRIEXIM BANK INVESTMENT IN IMO STATE
His Excellency Governor Emeka Ihedioha, CON, yesterday presented a Certificate of Occupancy for a land to the President of AfriExim bank, Professor Benedict Okey Oramah, during a courtesy visit to the Governor by the Management of the Bank at Goverment House, Owerri.
The Governor led the team to the 5 hectares of land along airport road, Ngor-Okpala, donated by the State Government for the construction of a 60 billion Naira state-of-the-art Testing/Certification and Quality Control Centre by the Bank, in Imo State.
In June 2019, few weeks after his swearing-in, Governor Emeka Ihedioha attended the 26th AfriExim bank Annual meeting in Moscow, Russia. The trip featured high-profile speakers and exciting meetings.
The African Export-Import (AfriExim) Bank was established in 1993 by African governments, African private and institutional investors, and non-African financial institution and private investors.
AfriExim bank has the purpose of financing, promoting and expanding intra-African and extra-African trade.
The bank has a total assets of $11.7 billion as of 2017.
The Testing/Certification and Quality Control Centre is one of only three of such centres proposed in the entire country. The facility when completed will service the South-East and South-South zones of Nigeria.
The event had the presence of the Deputy Governor, Engr. Gerard Irons; Hon. Bede Eke; the Secretary to the State Government, Barr Uche Onyeagocha; the Speaker of Imo State House of Assembly, Rt. Hon. Chiji Collins; the Deputy Chief of Staff, Barr. Chima Nwana; the Chief Economic Adviser of the State, Dr. Abraham Nwankwo; the Commissioner for Finance, Prof. Uche Uwaleke; the Commissioner for Budget & Economic Planning, Mr. Reginald Ihebuzor; Commissioner for Commerce & Entrepreneurship, Mr. Johnbosco Okeahialiam; Commission for Lands, Sir Bon Unachukwu; the Executive Chairman, Imo Internal Revenue Service, Nze Charles Onwunali; the Special Adviser to the Governor on Local Government & Chieftaincy Affairs, Hon. Mayor Eze; the Director-General of Imo Investment Agency, Ndubuisi Anyanwu; the Senior Special Assistant to the Governor on Ease of Doing Business, Leonard Ugbajah; the Senior Special Assistant to the Governor on Information & Advocacy, Ms. Adaora Onyechere; the Director-General Imo Orientation Agency, Ikemba Martin Opara, amongst others.
Imo Bu Nke Anyi.
Governor Emeka Ihedioha arrives for the maiden edition of the Imo State Diaspora Summit, happening at the Imo Concorde Hotel, Owerri.
Also in attendance are the Chairman of the occasion, Amb. Dr. Kema Chikwe; the keynote speaker of the occasion, Prof. Dr Ernest Uwazie; and Hon. Ms Abike Dabiri-Erewa, Chairman of the National Diaspora Commission & Special Adviser to the President on Foreign Affairs and Diaspora Matters, amongst others.
Imo Bu Nke Anyi.
GOVERNOR IHEDIOHA UNITES IMO STAKEHOLDERS, ASSURES OF MORE PROGRESS
Governor Emeka Ihedioha has disclosed that his administration will not relax on the achievements attained in his short time in office.
The Governor revealed this at the Stakeholders Luncheon held today at the Imo State Government House Owerri.
Governor Ihedioha in his remarks at the event confirmed that the #RebuildImo government is laying the foundation for the industrialization of the State, through private sector participation and youth capacity building.
In his opening notes, the Chairman of the landmark event, Mr Pascal Dozie expressed his delight at the progress the State has been able to accomplish in such little time.
Mr Dozie also encouraged the stakeholders to make good use of the opportunity to make Imo State the industrial hub of the country, and indeed Africa.
The ceremony afforded the Governor the opportunity to share the direction of his administration and milestones achieved in the short period of his administration. The Governor also called for collective efforts in our collective task of rebuilding the State.
The ceremony had in attendance, the First Lady, Lady Ebere Ihedioha, the Deputy Governor, Engr. Gerald Irona and the wife, Vivian Irona; the Speaker IMHA Rt. Hon. Chiji Collins, The Chief Judge Imo State, Justice Pascal Nnadi, Former Governors Achike Udenwa and Ikedi Ohakim, Former Deputy Governors, Ebere Udeagu, Ada Okwuonu and Jude Agbaso, Elder Statesmen, Members of the expanded Executive Council; Heads of Government & Non-governmental Agencies; Heads of Military & Paramilitary Agencies; Members of the Judiciary, Head of Civil Society Organizations; and Captains of industry, all of Imo extraction, home and abroad, across public and in the private sector.
The Traditional Institution, Christian leaders, Town Union Leaders, Academia, Artisans, amongst other stakeholder bodies in the State were all represented.
Imo Bu Nke Anyi.