World Bank Awards Imo State N6.8 Billion for Outstanding Governance Practices
The government of Imo State said on Wednesday that the World Bank had awarded it a staggering four million US dollars, (N6.8 billion) for fostering accountability and good governance in the state’s business-friendly environment.
This was revealed to reporters in Owerri by Hon. Declan Emelumba, the State Commissioner for Information, Public Orientation, and Strategy.
According to him, Imo was one of just four Nigerian states eligible for reimbursement under the World Bank’s State Action on Business Enabling Reforms (SABER) program.
The Commissioner stated that “the state excelled in the four criteria, thus qualifying it to be rewarded with the huge sum for the consolidation of its programs.”
The evaluation of the states was based on the effectiveness of land administration, the regulatory framework for private investment in fibre optic infrastructure, the services offered by investment promotion agencies, and the efficiency and transparency of government-to-business services in Participating states.
He stated that the state’s “prioritisation of efficiency and transparency in government to business services, the state has engendered a culture of accountability in its relationships with relevant stakeholders” was one of the reasons it received the World Bank award.
When questioned further about the advantages of such financing, he responded, “This is like a pass mark from the World Bank that our state is among the best in terms of ease of doing business. It is a reward for putting in effort. The fund implies that you will receive rewards for your success in various areas, particularly in the area of infrastructure development. The Imo people will be happy that more funding will be available for improvements, particularly to rural roads.”
He described the award “as a testament to the government’s commitment to progressive governance, economic empowerment and sustainable development. Under the focused administration of Governor Hope Uzodimma, Imo State implemented firm policy initiatives to improve land administration, enabling seamless land registration and boosting land-based investments through transparent governance Uzodimma has boosted the confidence of investors in the state, especially in the area of digital connectivity.”
He did however add that: “Contrary to the submissions of critics of government, Uzodimma had been working very hard interacting with investors within and outside Nigeria to buy into the investment opportunities available in the state. Imo state has made giant strides in strengthening its investment promotion agencies to ensure that they attracted the best investors to the state.”
He ended by saying: “The government’s achievements in the SABER programme of the World Bank are a confirmation of Uzodimma’s leadership initiatives aimed at making Imo the investment hub in Nigeria.”
