FG Adopts Imo Economic Model as Strategy to Tackle Youth Unemployment - THISDAYLIVE

The federal government has adopted ‘One Kindred, One Business Initiative (OKOBI),’ an Imo State economic model, as a national strategy to tackle youth unemployment.

Speaking at a Town Hall meeting for Small-Medium Enterprises in Owerri, the Imo State capital, the Chief Economic Adviser to the Imo Government, Prof. Kenneth Amaeshi, reiterated that OKOBI transitions informal local ventures into group-owned, profit-driven, and registered corporate entities capable of driving economic growth.

“OKOBI serves as a platform to convert various local skills, such as poultry, piggery, and palm oil production, into viable commercial enterprises,” Amaeshi said.

He added that the initiative relies on collaborative channels, commercial viability, and institutional partnerships rather than direct government financial handouts.

In his remarks during the event, Imo State Governor, Hope Uzodimma, affirmed his administration’s commitment to sustainable economic growth through the empowerment of local communities across the state.

The governor, who was represented at the event by his Deputy, Dr. Chinyere Ekomaru, disclosed that 65 community-owned businesses across the state have been established and are currently awaiting formal registration with the Corporate Affairs Commission (CAC).

According to him, the OKOBI initiative relies on the Igbo philosophy of Igwebuike (strength in unity) to encourage collective enterprise and wealth creation at the grassroots level.

“When kindreds pool their collective strengths, resources and talents, and take ownership of an enterprise, they can achieve far more than any one individual,” Uzodimma said.

He noted that sustainable development must complement infrastructural growth by providing viable economic opportunities for citizens within their local communities.

The governor emphasised that business incorporation was only an initial step, calling for strong governance structures to ensure long-term enterprise survival.

“Incorporation is only the beginning, not the destination. The critical question before us now is sustainability,” he said. Uzodimma charged community managers to run the enterprises professionally and transparently to enable them to compete effectively in the market.

He assured stakeholders that the state government would continue to provide an enabling environment through supportive policies and strategic linkages with financial institutions and private sector partners.

The governor added that the success of the initiative would ultimately be determined by its overall impact on rural livelihoods.

“Success will not be measured merely by registered businesses, but by jobs created, families lifted out of poverty, and communities transformed,” he added.

Meanwhile, the immediate-past state Chairman of the All Progressives Congress (APC), Dr MacDonald Ebere, pledged to sponsor 100 communities to establish OKOBI enterprises, and called on corporate bodies and financial institutions to provide vital backing.

Ebere urged commercial banks, corporate organisations, and private investors to step in with necessary financial backing, market linkages, and technical support to sustain community-owned enterprises.

He emphasised that while the government provides the foundational policy structure, the long-term survival of the businesses depends on active private sector participation.

“I call on stakeholders, financial institutions, and development partners to invest in these community-owned businesses to transform local enterprises into engines of prosperity.

“I am volunteering to personally sponsor 100 additional communities to start their own OKOBI businesses so our people can generate employment and wealth,” Ebere said.

Earlier, the Chief Economic Adviser to the state government, Prof. Amaeshi, reiterated that the federal government had adopted the OKOBI, an Imo economic model, as a national strategy to tackle youth unemployment.

Amaeshi explained that OKOBI transitions informal local ventures into group-owned, profit-driven, and registered corporate entities capable of driving economic growth.

“OKOBI serves as a platform to convert various local skills, such as poultry, piggery, and palm oil production, into viable commercial enterprises,” Amaeshi said.

He noted that out of 656 autonomous communities in the state, 120 had earlier expressed interest, with 65 successfully advancing from basic concepts to formal business proposals.

Amaeshi further revealed that the programme had gained significant international traction, attracting interest from institutions such as the London School of Economics and investors in Bangladesh.

He added that a prominent American firm had already screened 10 local OKOBI businesses for direct foreign investment opportunities.

“Strategic partnerships have also emerged locally, with corporate entities like IHS and religious bodies, including the Anglican Communion, integrating the model into their social impact programmes.

“The Anglican Communion alone has committed to establishing 1,500 OKOBI enterprises across its parishes through dedicated coordinators,” the economic adviser said.

Also speaking, the Director-General of the State Investment Promotion Agency, Dr Jude Nzeako, said the government expanded OKOBI to rural communities to boost local production, drive exports, and ensure food security state-wide.

On her part, the state Commissioner for Entrepreneurship, Skill Acquisition, and Social Responsibility, Prof. Chinonye Love-Moses, pledged full ministry support for the OKOBI initiative, describing enterprise creation as “essential to preventing poverty.”

Also, the state Commissioner for Finance, Dr Chuck Chukwuemeka, said: “The government is establishing financial frameworks to provide targeted loan extensions to participants through commercial banking channels.”

Chukwuemeka said existing businesses under the OKOBI programme would receive priority access to the credit facilities as the model expands to all 654 autonomous communities in the state.

In their separate remarks, Mr. Petrus Ukachukwu from Abia-Omuma community, Dr Chris Chikezie from Ndegwu community, and Chief Emmanuel Oji from Ife community, among others, praised Uzodimma’s vision of OKOBI.

They acknowledged that the government alone could not provide the necessary support needed to grow businesses, but appealed to Uzodimma to fast-track their business registration with CAC and provide financial assistance to empower their community enterprises.

The 65 participating communities ventured into various businesses, including fish and livestock farming, shoe making, poultry, piggery, and palm oil and timber mills.

They are also into vegetable and cassava farming, renewable energy, cassava processing, bakery, water factory, abattoir, palm plantation, feed mills, and honey extraction, among others.

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