…Revenue Allocation Decisions Will Impact Ordinary Imo People — Chukwuemeka
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BY JENNIFER JOHN / OWERRI
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Imo State is set to host the National Council on Finance and Economic Development (NACOFED), in what the state government said would provide an opportunity to showcase the state’s economic potential, business opportunities and capacity to the world.
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The Commissioner for Finance, Imo State, Hon. Chuck O.N. Chukwuemeka, disclosed this during a press conference in Owerri ahead of the meeting, which is scheduled to hold in the state.
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According to Chukwuemeka, the conference is not merely a gathering where officials meet, deliberate and leave, but an important platform where decisions affecting the financial wellbeing of states are made.
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He explained that decisions taken by the Federal Account Allocation Committee (FAAC) and other relevant bodies influence how much Imo State receives through revenue allocation and, ultimately, the resources available for development.
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The Commissioner said the funds allocated to the state are expected to be put to good use for the benefit of the people, stressing that the impact of such financial decisions goes beyond government offices to communities and ordinary citizens.
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He noted that some of the infrastructure and development projects visible across Imo State are influenced by decisions taken at the federal level, particularly those relating to revenue allocation and the distribution of resources among the states.
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Chukwuemeka said the state government, under Governor Hope Uzodimma, remains committed to ensuring that available resources are used to touch the lives of people across the state.
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Responding to questions on the expected benefits of the NACOFED conference to the ordinary man and the Imo business community, the Commissioner said the meeting would provide an avenue for strengthening the economic environment and promoting sustainable development.
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He added that hosting the conference would also give Imo State an opportunity to showcase what the state is all about and what it can offer to the rest of the world.
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According to him, the presence of financial and economic stakeholders from across the country would enable Imo to present its achievements, opportunities, business potential and other areas in which the state can contribute to Nigeria’s economic growth.
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Chukwuemeka described the hosting of NACOFED as a significant opportunity for Imo State, particularly as it is the first time the state will host the council and the first time, according to him, that a Southeast state will host the gathering.
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The opening ceremony is scheduled for Monday, the 17th, with Governor Hope Uzodimma expected to declare the event open.
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The theme of the meeting is “Strengthening and Driving Sustainable Revenue Generation, Equitable Allocation, and Economic Resilience in a Volatile Global Economy.”
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The Commissioner stressed that developments in the global economy have direct implications for Nigeria, making discussions on sustainable revenue generation, equitable allocation of resources and economic resilience critical to the country’s future.
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He also called on the media to support the state in welcoming the NACOFED family and publicising the activities of the conference.
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The meeting is expected to bring together key stakeholders in finance and economic development to deliberate on policies and strategies capable of strengthening Nigeria’s revenue base, promoting equitable resource allocation and building a resilient economy.
