Managing Director of Edo State Investment Promotion Office (ESIPO), Kelvin Uwaibi, has said Edo State will witness more foreign investors following the Foreign Direct Investment (FDI) Leaders Network Meeting targeted at fostering collaborative efforts in key sectors.
Speaking with newsmen in Benin City, on his return from the FDI Leaders Network Meeting in Tokyo, Japan, Uwaibi said the state government “is focusing on diversifying investments,” particularly towards attracting FDIs.
According to him, Edo has vast potential in agribusiness, manufacturing, retail, education, technology, financial technology, and entertainment, outlining the immense opportunities for prospective investors in these areas.
Uwaibi, who enumerated the benefits of attracting Japanese investors to the state and country, underscored Nigeria’s market potential, with over 200 million people, emphasising the pro-business stance of the present government.
He assured of the state government’s unwavering commitment to ensuring that businesses thrive, pointing out the region’s distinction as home to Nigeria’s largest onshore gas reserves, ensuring reliable power supply.
The ESIPO boss expressed Governor Godwin Obaseki’s commitment towards providing investment incentives to meet investor’s unique needs, while assuring comprehensive support from ESIPO, from the initial setup phase to full business operation.
“ESIPO’s aftercare services will diligently follow up to ensure the sustained success of these investments,” he added.
MEANWHILE, Chairman of the Board of Trustees (BoT), Alaghodaro Economic Summit Limited/Gte, Dr Asue Ighodalo; the Chairman and Chief Executive Officer of Dangote Group, Aliko Dangote, Obaseki and other guests at the 2023 Alaghodaro Investment Summit said Edo has the potential to become a first world economy on account of its growth trajectory in the past seven years.
They noted that on the back of nuanced reforms by the Obaseki-led administration over the period to attract investments and grow the economy, the state witnessed economic boom of over 140 per cent from $10.6 billion to $25.8 billion.
Ighodalo, who is also the Chairman of Sterling Bank Plc, in his address at the summit, disclosed that the investments attracted through the Alaghodaro Summit alone in the past seven years was put at $4 billion, noting that the state could drag Nigeria out of its untapped potential, re-directing the nation to a point of development.
The Alaghodaro Summit is organised yearly by the Edo government, in partnership with the private sector, to mark the anniversary of Obaseki’s inauguration as governor.
According to Dangote, Edo has comparative advantage over other states in the area of agriculture and agro-processing, as well as culture and tourism, noting that the Obaseki-led administration repositioned the state, leveraging its comparative advantage to drive growth across all sectors.
