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“ESIPO reports that Edo State has drawn in investments exceeding $2.5 billion.”

  • Post category:Business

On Friday, the Edo State government revealed that it has managed to secure investments amounting to more than $2.5 billion for the state’s economy since 2017.

During a visit to the leadership of the Edo State Council of the Nigeria Union of Journalists (NUJ) in Benin City, Kelvin Uwaibi, the Managing Director and CEO of Edo State Investment Promotion Office (ESIPO), conveyed this information. He indicated that the investments came from sectors such as agriculture, technology, power, and retail.

Uwaibi elaborated that these funds were attracted by teams from various Ministries, Departments, and Agencies (MDAs), led by the State Governor, Godwin Obaseki. He went on to highlight ESIPO’s success in drawing diverse investments, thereby strengthening Edo’s economic landscape.

Emphasizing ESIPO’s role as a driving force behind Edo State’s economic transformation, Uwaibi pointed out its responsibilities in establishing an investor-friendly environment, nurturing the growth of Micro, Small, and Medium Enterprises (MSMEs), and ensuring a conducive regulatory framework for business prosperity.

He commented, “The Ease of Doing Business reforms, initiated by ESIPO, have streamlined bureaucratic processes and improved the investment climate. The expansion of MSMEs has been notably accelerated, leading to local job creation and economic empowerment. ESIPO’s endeavors have also cultivated a positive regulatory environment conducive to business growth and innovation.”

Uwaibi’s vision for ESIPO is to position Edo State as a preferred investment hub with opportunities spanning various sectors. By leveraging strategic location, skilled workforce, and vibrant culture, the goal is to attract both domestic and international investors. This is aimed at fostering sustainable development, generating employment, and enhancing the overall quality of life for Edo’s residents.

Festus Alenkhe, the State Chairman of NUJ, applauded ESIPO for its role in the state’s economic progress. However, he encouraged the management to further develop the state’s economy by drawing Foreign Direct Investment (FDI). Alenkhe also urged the state government to collaborate with the Federal Government on policies targeting poverty reduction and unemployment.

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