Gov Uzodimma, Oyedele Push Fiscal REVENUE growth at NACOFED RETREAT
Governor Hope Uzodimma of Imo State and the Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, have advocated far-reaching fiscal reforms, stronger revenue generation and economic diversification as pathways to sustainable growth and greater economic resilience.
The call was made on Monday in Owerri at the 2026 National Council on Finance and Economic Development (NACOFED) Retreat, which brings together key stakeholders to examine Nigeria’s fiscal system and economic future.
Speaking through his Deputy, Lady Chinyere Ekomaru, Governor Uzodimma said states must strengthen their financial capacity and reduce overdependence on federal allocations. He cited Imo’s digital revenue collection system and investments in agriculture, technology, tourism, infrastructure, education and SMEs as efforts to expand the state’s economic base.
Oyedele said the Retreat provides an opportunity to critically review Nigeria’s fiscal architecture, including revenue allocation and derivation. He urged the Federal, State and Local Governments to embrace greater fiscal discipline, accountability and cooperation.
The Minister disclosed that Federation Account allocations have grown substantially, reaching N2.8 trillion in June 2026, but warned that increased revenue would have little meaning unless it produces better infrastructure, jobs, productivity and public services.
As part of the state’s hospitality to participants, the Imo State Government hosted the delegates to a special dinner and cultural night at Landmark event center. The evening showcased the rich artistic and cultural heritage of Imo State through traditional music, dance, cuisine and other cultural displays.
The five-day Retreat, holding from August 16 to 20 at the Emmanuel Iwuanyanwu International Convention Centre, Owerri, is themed: “Strengthening Fiscal Federalism for Equity, Sustainable Development and Economic Resilience in a Volatile Global Economy.”