Governor Hope Uzodimma of Imo says his administration has reduced the state’s debt profile from N126 billion to N97 billion, representing a 23 per cent reduction.

Mr Uzodimma said this during a “State of the State Address” presented at the House of Assembly on Tuesday.

According to him, the reduction was a clear sign of his administration’s prudent financial management.

He also stated that his administration had pursued reforms that increased the state’s revenue, attracted investment, and enhanced transparency.

The governor also said his administration has devised a modern digital revenue system to transform revenue collection and monitor funds across all ministries, departments, and agencies.

The governor said the step had drastically reduced leakages and manual bottlenecks, leading to an increase in the state’s monthly internally generated revenue from an average of N1.8 billion to nearly N4 billion.

He noted that deliberate steps were also taken to improve the ease of doing business through the successful implementation of the state’s action on the business-enabling reforms programme.

Mr Uzodimma said the step improved the state’s World Bank ease of doing business ranking from 33rd in 2021 to 13th in 2023.

He said the state had also embraced the national COVID-19 action recovery and economic stimulus programme, christened Imo-Cares.

Mr Uzodimma said that over 400 households had received direct economic support, while no fewer than 98 communities had benefited from development interventions under the programme.

“While we drive reforms at the macro level, we are equally committed to touching lives at the micro level.

“Through Imo-Cares, we are laying the groundwork for grassroots economic recovery, restoring confidence among low-income earners and giving dignity back to those who felt forgotten,” Mr Uzodimma said.

He also outlined plans to improve the housing situation in the state through a public-private partnership with the Nigeria Capital Development Fund.

The governor said the first phase of the development of 500 housing units under the affordable housing scheme was underway.

He also told the lawmakers that at least 40,000 youths had been trained and equipped with startup toolkits under the state’s flagship human capacity development programme, which aimed to train 300,000 youths in critical digital skills.

Mr Uzodimma commended the speaker, Chike Olemgbe, and other members of the house for their steadfast partnership, describing their support as “instrumental to every milestone achieved”.

“Your support over the last five years has been instrumental to every milestone we have achieved,” he said.

In an address, Mr Olemgbe thanked the governor for the verifiable projects which his administration had executed since his first tenure.

(NAN)