Imo Targets Economic Breakthrough With ₦1.4 Trillion Budget
Ambitious Fiscal Expansion
IMO State Governor, Hope Uzodimma, has presented a ₦1.4 trillion budget proposal for the 2026 fiscal year to the State House of Assembly, marking a sharp 78 per cent increase over the ₦807 billion budget for 2025. The governor described the proposal as “The Budget of Economic Breakthrough,” signalling an aggressive push toward infrastructure-led growth.
According to Uzodimma, the expansion is driven by expectations of higher federal allocations, improved internally generated revenue and the administration’s resolve to reposition the state’s economy through large-scale investments.
Capital Spending Dominates
Under the proposal, capital expenditure accounts for 83.4 per cent of the total budget, while recurrent spending is limited to 16.6 per cent. The governor said this spending pattern reflects his administration’s focus on long-term development rather than consumption.
He noted that a major objective of the 2026 budget is to end what he described as Imo’s “generator-based power economy” by investing heavily in electricity and world-class infrastructure capable of stimulating industrial growth and private sector participation.
Key Sectoral Allocations
Sectoral breakdowns show significant allocations to critical ministries, including ₦190.451 billion for Power and Electricity, ₦698.163 billion for Works and Infrastructure, ₦87.727 billion for Health, ₦60.623 billion for Education, and ₦20.506 billion for Agriculture and Food Security. Rural Development is allocated ₦15.106 billion, while Entrepreneurship and Skill Acquisition receives ₦6.471 billion.
The presentation attracted members of the trade, industry and investor community, underscoring the administration’s intention to position Imo as an investment destination.
