Edo State Thrives: $2.5 Billion in Investments Attracted Since 2017

The Edo State government announced on Friday that it has managed to secure over $2.5 billion in investments for the state’s economy since the year 2017.

Kelvin Uwaibi, who serves as the Managing Director and Chief Executive Officer of the Edo State Investment Promotion Office (ESIPO), shared this information during a visit to the leadership of the Edo State Council of the Nigeria Union of Journalists (NUJ) in Benin City.

Uwaibi explained that these substantial funds have been attracted from various sectors such as agriculture, technology, power, and retail.

These investments were the result of collaborative efforts by teams from different Ministries, Departments, and Agencies (MDAs) led by the State Governor, Godwin Obaseki.

Uwaibi also highlighted ESIPO’s success in drawing a diverse range of investments, which have positively impacted Edo State’s economic landscape.

He explained that ESIPO plays a crucial role in driving Edo State’s economic transformation.

The organization’s mandate extends to creating a business-friendly environment, promoting the growth of micro, small, and medium-sized enterprises (MSMEs), and ensuring that there is a conducive regulatory framework for businesses to prosper.

“The Ease of Doing Business (EoDB) reforms, spearheaded by ESIPO, have streamlined bureaucratic processes and enhanced the investment climate.

“The growth of Micro, Small and Medium Enterprises (MSMEs) has been significantly catalyzed, contributing to local job creation and economic empowerment. ESIPO’s efforts have also cultivated a favourable regulatory environment that nurtures business growth and innovation.

“ESIPO aspires to position Edo State as a preferred investment destination, ripe with opportunities across various sectors. By capitalizing on our strategic locatiEdo State Thrives: $2.5 Billion in Investments Attracted Since 2017on, skilled workforce, and vibrant culture, we aim to attract both domestic and international investors.

“The ultimate goal is to foster sustainable development, create employment opportunities, and enhance the overall qualify of life for Edo’s residents”, he said.

In his comment, Festus Alenkhe, the State Chairman of NUJ, who commended ESIPO for its economic development in the state, however, urged the management to grow the state’s economy by attracting Foreign Direct Investment.

Alenkhe also urged the state government to partner the Federal Government in its policies geared towards reducing poverty and unemployment