IMO STATE – the 4th Biggest Economy in the Country

By Dr Lawrence Nwaordu

Development Economists in Owerri

Imo State is with a GDP of 7.7 trillion Naira (before devaluation and floating of Naira value). Imo State local economy is only next to those of Lagos, Rivers and Akwa Ibom States, (and Delta State being the 5th).

Areas of IMO STATE Strength includes

• biggest Proven Natural Gas Reserve in West Africa – 200 cubic feet of the 300 cubic feet reserve in the country.
• biggest gas plant in West Africa – AssaNotth Gas Plant.
• 163 oil wells in 12 locations.
• biggest Africanpalm Plantation in West Africa – 38,000 hectres of cultivated Africanpalm plantation (Adapalm).
• Imo Rubber Plantation
• Uzarra Egbelu Livestock Farm
• Avutu Integrated Poultry Farm
• Okigwe Ceramics Industry
• Ezinachi Burnt Bricks Industry
• Nsu Ceramics Industry
• Imo Shoes Factory
• Resins Factory Abor-Mbaise
• over 10 Tertiary Educational Institutions, one of which is the Imo State University, with over 15,000 (on-ground) students population.
• the only selfhelp built Airport in the Country.
• Shrimps
• Gypsum Powder (Plaster of Paris),
• Limestone
• Oil (Hydrocarbon) and Gas (Natural) Deposit – all IOCs with operations in Nigeria are all in Imo State.
• White Clay
• Population – 6.3 m Naira.
• Per Capita Income – 1,222,220 Naira.
• arguably the State with the highest number of doctorate degree holders and Professors in the country – with the highest enrollments in Primary, Secondary and Tertiary education, and the NYSC.
• Imo State Capital has the highest concentration of hospitality industry in the country, and the most sort-after and expensive real estate, only next to the likes of Abuja and the Island and Lekki Areas of Lagos State.
• the State is a hub and transit to the South-South and most South-East States – therefore a huge transportation industry potentials..
• ONLY 2 PERCENT OF IMO STATE GDP AS TAX INCOME, WOULD EARN THE STATE a wholesome sum of 154 billion Naira per annum (only the State’s strong areas could raise this without anyone feeling it).

Imo State is gearing to go places – JUST WATCH