The Imo State chapter of the Peoples Democratic Party (PDP) has criticized the state’s economic performance under Governor Hope Uzodinma, following the release of data on Value Added Tax (VAT) revenue generated across the 36 states and the Federal Capital Territory.
In a press statement signed by the party’s state publicity secretary, Lancelot Obiaku, and made available to journalists, the PDP alleged that Governor Uzodinma’s leadership style has rendered the state “unattractive to investors.”
The PDP highlighted that Imo State reportedly generated the lowest VAT revenue nationwide, amounting to N235.41 million.
It noted that even Zamfara State, which ranked second-lowest, generated almost double that amount at N432.80 million.
“To illustrate the dire state of Imo’s economy, the state generated the lowest VAT revenue in the entire Federation, with a paltry N235.41 million,” the statement read.
“This amount is almost half of what the second-worst-performing state, Zamfara, generated.”
The party also dismissed potential excuses related to insecurity, pointing out that other Southeast states performed significantly better.
“Abia State generated three times more VAT revenue, while Ebonyi generated nearly ten times more, and Anambra recorded twenty times Imo’s figure,” Obiaku stated.
The PDP emphasized the stark disparity in VAT contributions between Imo and Lagos State, noting that Imo’s VAT revenue amounted to just 0.2 percent of Lagos’s figure.
“To be clear, VAT, a consumption tax on goods and services, reflects the productivity level and health of an economy.
Imo’s dismal performance mirrors the comatose state of its business environment and overall economy,” the party said.
The PDP also accused the Uzodinma administration of lacking a coherent economic blueprint to address the state’s economic challenges and reverse the decline.
The party called on the state government to urgently adopt measures to rejuvenate the economy and restore investor confidence in the state.
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