By Princely Onyenwe,Imo
Governor Hope Uzodinma’s viability and veracity of an economic policy is not seen in the grandiose content of such policy but in the translation of the content into practical intent whereby the goals and objectives of the economic policy is seen and felt by those who are recipient of such policy. Hence a viable economic policy can only be measured by its resultant effect on the people.
Governor Hope Uzodinma on assumption of duty set out a comprehensive economic policy that will midwife the economic Recovery, Rehabilitation and Reconstruction of the state thereby creating an enabling environment suitable for Sustainable Economic Growth and Development. Principally the Economic Policy included;
Mainstream Macro-Economic Programme which will involves into the “3-R” Algorithm, Recovery of damaged economic structures, Reconstruction of core infrastructure, and Rehabilitation of component micro-economic institutions; Micro-Small-Medium-Enterprises via Public-Private Partnership (PPP).
Rapid Economic Diversifications through “Backward Integration,” involving a synergy of Rural-Urban development paradigm. A shift from core public sector driven economy to a Public-Private Partnership (PPP) driven one.
Stimulate downstream Value Chain through intervention and support to MSMEs, and thus generate employment opportunities at Local Government levels.
The Hope Uzodimma’s Economic Policy summarily involves the use of the Public Private Partnership Economic Approach to stimulate economic growth, create Jobs, both direct and indirect, boost business viability, accelerate commerce and trade, evolve innovations that will improve productivity and expand production capacity thus developing the manufacturing potentiality of the state.
The resultant effect will be seen in the springing up of new business concerns in all sectors, both the formal and informal sectors, which will be an after effect of increased “ease of doing business”, political stability, open market policy that encourages healthy competition, Government deliberate support programs and of course a regulatory body with robust legal framework to control inflation and check illegalities and irregularities.
Imo State since 2020 have witnessed an upsurge in the ease of doing business, which has made the state to move up the ladder from 27th out of 37 States including the FCT in 2018 ending to 11th in 2021 ending. This has resulted in the influx of investors and the springing up of genuine small and medium scale businesses within the state.
The influx of worldclass companies and other topnotch investment is a veritable testament to the fact that the economic policy of Most Distinguished Senator Hope Uzodimma is not just pen in paper but a practical reality of economic properity for the state.
Among the companies that have entered Imo State to set up their company or to commence business activities after years of abandonment includes, Victoria Integrated Farms in Ngor Okpala LGA, WaterSmith Petroman Limited Modular Refinery and Industrial Park in Ohaji-Egbema, Domino pizza, and Chicken Republic in Owerri to mention but a few.
Most striking is the Diva Rice Mill, the first rice mill factory to be built in Imo State at N450 million facility. The factory has commenced full production of polished rice in Imo State.
The factory, which is located at Umuabiahu community Mgbidi in Oru West LGA currently produces 300 bags of 50kg of Diva rice per day and has the capacity to expand to 100,000 bags per day employing over 10,000 both skilled and unskilled labour.
An igbo adage says “That which is worn on the wrist does not require a mirror to have a view of it”. Truly the economic policy of Senator Hope Uzodimma going by the resultant effect of the springing up of business concerns and influx of investors is like the proverbial “that which is worn on the wrist”
9News Nigeria (Owerri) For inquiries on this news contact 9News Nigeria Imo State @08036856526
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