LATEST: Imo’s Lowest VAT Record Reflects A Struggling Economy

The Peoples Democratic Party (PDP) in Imo State has claimed that the recently released Value Added Tax (VAT) data, showing the VAT generated across Nigeria’s 36 states and the Federal Capital Territory, confirms its earlier position about the worsening economic situation in Imo under Governor Hope Uzodinma’s leadership.....KINDLY READ THE FULL STORY HERE▶

In a statement signed by the state’s publicity secretary, Lancelot Obiaku, the PDP accused the governor of making Imo “unattractive to investors.” The party questioned how the state ended up with the lowest VAT revenue in the entire federation, noting that even the second-lowest performer, Zamfara, generated N432.80 million, while Imo only brought in N235.41 million — a figure the PDP labeled as not just the lowest but “paltry.”

The PDP highlighted the stark contrast in performance, with Imo’s VAT collection being nearly half of Zamfara’s. Furthermore, when compared to other Southeast states, Abia generated three times more VAT, Ebonyi performed nearly ten times better, and Anambra’s revenue was twenty times higher than Imo’s.

The party pointed out that Imo’s VAT contribution was a mere 0.2 percent of Lagos State’s, underscoring the significant economic disparity. The PDP emphasized that VAT revenue is a direct reflection of an economy’s productivity, noting that the low VAT figures mirror the state’s struggling business environment and overall economic health.

The party also criticized the lack of a coherent economic strategy to reverse the state’s decline.