The Mazi Organisation (TMO) has kicked against the recent poor Value Added Tax (VAT) ranking of Imo State, describing it as “unacceptable, embarrassing and revealing.”
This followed the release of the Federation Account Allocation Committee’s (FAAC) Q1 2025 report.
The state astonishingly generated a mere N2.34 billion in VAT revenue, placing 35th out of 36 states, ahead of Taraba State.
This was made known through a statement signed by its spokesperson, Cajetan Duke.
The group criticized Governor Hope Uzodimma’s administration for failing to create an economic environment conducive to business growth.
It said, “This poor VAT ranking underscores the lack of a clear roadmap for sustainable socio-economic development in Imo State”.
The group highlighted that this dismal performance reflects sluggish economic activities, a lack of critical infrastructure, and limited investment in key sectors.
“It is evident that Imo State has become unattractive for investors, a situation that has stunted our economic potential,” it said.
The statement recalled that Dr. Chima Matthew Amadi, leader of TMO, had recently reiterated his call for a “state development capitalism” model to address the state’s economic woes.
“Speaking at a recent town hall meeting, Amadi stressed the need for policies that prioritize job creation, industrialization, and robust economic planning.
“The Uzodimma administration has failed to revamp critical industries such as Avutu Poultry, Standard Shoe Industry, and Adapalm, which are vital to driving economic growth.”
According to the statement, the TMO leader noted that these neglected industries could have significantly boosted the state’s internally generated revenue and reduced unemployment.
TMO emphasized that Imo’s economic performance is a wake-up call for its leaders to shift focus from federal allocations to local revenue generation.
“The state government must take deliberate steps to attract investments and create a business-friendly environment,” it added.
The group called for immediate action to establish industrial parks in the three senatorial zones and revive moribund industries.
“Revitalizing these sectors will enhance economic activities and position Imo State as a hub for entrepreneurship,” it added.
TMO also encouraged the state government to engage private sector players to provide technical expertise and support in driving economic transformation.
“Collaboration with stakeholders is crucial to charting a sustainable path for Imo’s economy,” it added.
TMO highlighted the broader implications and noted that the poor VAT performance reflects the state’s lack of strategic leadership.
“This should prompt the citizens of Imo State to carefully evaluate their leadership choices in the upcoming elections,” it said.
TMO reiterated its belief in the potential of Imo State under the right leadership.
“Leaders like Dr. Chima Matthew Amadi possess the strategic competence to address these challenges and steer the state toward economic prosperity,” it noted.
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