‘Benin River Port will enhance diversification’

Edo State Governor, Godwin Obaseki, has said the development of Benin River Port will guarantee diversification of the nation’s economy from oil to non-oil activities such as agriculture and agro-allied businesses, placing the country on the path to sustainable economic growth.

Obaseki, who stated this while briefing journalists in Benin City, said the project would facilitate the export of agricultural produce, thereby boosting export earnings and stimulating economic growth and development.

He said the port, upon completion, would decongest traffic in Lagos port and facilitate the distribution of goods produced in Edo to other parts of the country.

“The reason why we are building the Benin River Port is because of its huge economic benefits to Edo and Nigeria. The port will become the closest port to the heart of the country, so that we will be able to act as a sponge to get whatever we are producing here across other parts of the country,” he said.

Noting that his government is investing in palm oil production to drive its economy, Obaseki added, “We cannot continue to depend on crude oil. Our over-reliance on oil has not increased our global competitiveness. We must intensify efforts to diversify the economy away from oil.