NACOFED Retreat: Imo Calls for Stronger Fiscal Federalism, Revenue Reform, Economic Diversification

NACOFED Retreat: Imo Calls for Stronger Fiscal Federalism, Revenue Reform, Economic Diversification

By our correspondent 

***




OWERRI — Imo State has called for a stronger and more equitable fiscal framework that will enable states to generate more revenue, diversify their economies and build greater resilience against global economic shocks.


The call was made at the 2026 National Council on Finance and Economic Development (NACOFED) Retreat, held at the Emmanuel Iwuanyanwu International Convention Centre, Owerri.


Representing Imo State Governor, Distinguished Senator Hope Uzodimma, at the high-level gathering, Deputy Governor Lady Chinyere Ihuoma Ekeomaru, PhD, delivered the Governor's goodwill message, stressing the need for reforms capable of strengthening Nigeria's fiscal architecture.


The retreat, themed “Strengthening Fiscal Federalism for Equity, Sustainable Development and Economic Resilience in a Volatile Global Economy,” brought together key stakeholders to examine the country's revenue structure, intergovernmental fiscal relations and pathways towards sustainable economic development.


The Imo delegation's position placed particular emphasis on stronger fiscal federalism, improved internally generated revenue and economic diversification, issues that have become increasingly important as governments at all levels grapple with mounting financial pressures and a volatile global economy.


According to the Governor's message, Nigeria's economic future requires more than dependence on traditional revenue sources. States must be empowered and encouraged to develop productive economic sectors capable of generating employment, attracting investment and expanding their revenue base.


The discussion is particularly significant for states such as Imo, where the challenge is increasingly shifting from simply accessing public funds to creating an economic environment capable of generating sustainable wealth.


The Deputy Governor said Imo State remained committed to creating such an environment through the administration's 3R Agenda — Reconstruction, Rehabilitation and Recovery.


She said the state government would continue to pursue policies aimed at attracting investment, stimulating job creation and promoting shared prosperity.


The Owerri retreat therefore comes at a critical moment in Nigeria's economic conversation, as policymakers confront questions over how revenue should be generated, shared and deployed in a manner that promotes fairness while giving states sufficient capacity to drive development.


For Imo, the message from the retreat is clear: fiscal reform must ultimately translate into stronger economies, more productive states, more jobs and better opportunities for citizens.


The bigger question now is whether the resolutions emerging from NACOFED will move beyond policy discussions and become concrete reforms capable of reshaping Nigeria's fiscal relationship between the Federal Government and the states.


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