Nigeria — President Joseph Nyuma Boakai on Thursday called for deeper African cooperation and reform-driven governance to unlock economic growth, telling participants at the inaugural Imo State Economic Summit that progress across the continent depends on collective effort and responsible leadership.
Speaking at the Imo International Conference Center in Owerri, Boakai praised Imo State's economic potential and said Liberia faces similar development challenges and opportunities, including dependence on agriculture and a young population eager for progress.
"It is a profound honor to stand here in Imo State, the 'Eastern Heartland,' a land of rich cultural heritage, remarkable resilience and tremendous promise," Boakai said. He conveyed greetings from Liberia and thanked Gov. Hope Uzodinma for what he described as a "gracious invitation" to address the summit.
Boakai praised Nigeria for its long-standing support to Liberia, especially during times of conflict and transition. He also recognized Uzodinma's efforts to hold a summit aimed at boosting Imo -- one of Nigeria's wealthiest states per capita -- for greater economic growth.
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"As the fourth-richest state in Nigeria and the third-highest on the Human Development Index, Imo State is an inspiration," Boakai said.
Focus on Three Pillars
The theme of the summit, Unlocking Imo's Economic Potential, mirrors ambitions in Liberia and across Africa, Boakai said. He underscored three "guiding pillars" he believes are essential to sustainable growth: partnership, investment and innovation.
Quoting an African proverb, "When spider webs unite, they can tie up a lion," the Liberian leader emphasized that cooperation among government, private sector actors, and communities is critical for development.
"No society advances alone. No government succeeds in isolation," he said. "The greatest development stories in history were built on cooperation."
Boakai mentioned that Liberia's recent improvements have been fueled by strengthening regional partnerships, rallying international support, and enacting domestic reforms. He highlighted Liberia's election to the U.N. Security Council and ongoing infrastructure and governance projects as evidence of enhanced institutional capacity.
Investment Climate and Governance Reform
Boakai told investors and policymakers gathered at the summit that capital remains "the lifeblood of development." He urged Imo State to pursue reforms that increase transparency, encourage fair competition and strengthen the rule of law, arguing that these steps help attract credible investors.
"Investment must be smart, realistic, sustainable and inclusive," he said. "It must empower local businesses, create decent jobs and uplift communities."
The president highlighted Liberia's efforts to modernize procurement systems, eliminate ghost workers, and enforce fiscal discipline. These initiatives, he said, helped boost Liberia's national budget above $1 billion for the first time, with 94 percent funded by domestic revenue.
"This is a testament to what is possible when governance is strengthened," Boakai said, expressing optimism that Imo could achieve similar gains through reform-driven leadership.
Innovation as a Driver of Transformation
Boakai urged African leaders to embrace digital transformation and technological innovation, emphasizing that the continent's economic future depends on shifting from import reliance to local production and invention.
"Innovation begins with mindset, not machines," he said. "It begins with the belief that we, as Africans, can build, create and lead."
He encouraged Imo State to invest in technology parks, innovation hubs and research institutions to harness the energy of its large youth population. Liberia, he said, is pursuing similar initiatives under its ARREST Agenda, including education reform and renewable energy pilots.
Shared Values and Future Cooperation
Boakai stated that Liberia and Imo State share a history of resilience and a dedication to peace and good governance. He urged African leaders to ensure that elections result in "developmental dividends," not just peaceful transitions.
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Agriculture, infrastructure, healthcare, and anti-corruption efforts are areas where Liberia and Imo share goals, he said. He also highlighted opportunities for cooperation on peace-building and regional stability after Liberia's election to the U.N. Security Council.
A Call for Collective Action
Boakai closed by urging participants to view economic transformation not just as a financial endeavor but as a leadership responsibility.
"When partnership is strong, progress becomes possible. When investment is responsible, industries take shape. When innovation is encouraged, society transforms," he said.
He pledged Liberia's readiness to deepen cooperation with Imo State and Nigeria.
"Like Liberia, Imo State is rising. Nigeria is rising. And Africa is rising," he said. Boakai concluded by wishing blessings for Imo State, Nigeria, Liberia and the African continent.
