Investors see brighter future for Edo with 2020 Alaghodaro summit

As preparations for the inauguration of the Edo State Governor, Mr. Godwin Obaseki for a second term in office hit top gear, local and international investors have predicted a positive economic outlook for the state, as the governor seeks to consolidate on reforms and programmes to make the state an investment hub.

Governor Obaseki will be sworn into office along with his deputy, Rt. Hon. Comr. Philip Shaibu, for another term of four years, on November 12, 2020.

The event will be held alongside the fourth edition of the annual Alaghodaro Summit, which is anchored on the ‘Making Edo Great Again’ manifesto of the governor.

A cross-section of investors, who spoke to journalists in Benin City, attributed the growing confidence among investors to expand their businesses in Edo State to the ongoing reforms and policies by the Obaseki-led administration, expressing confidence in his people-centric and business-friendly reforms.

Alli Isibor, a property development consultant specifically cited the positive disposition of the Obaseki-led administration to a market-driven economy and the institutionalisation drive and reforms, especially the Private Property Protection Law that has eliminated man-made encumbrances to access to land, among other initiatives, as reasons for their delight in the commencement of the governor’s second term.

According to Okoduwa Osakue, “Investors in the state are not just delighted at Obaseki’s victory at the poll but confident that the swearing in of the governor for a second term in office signals a brighter future for the state as he is determined to improve on ongoing reforms in various aspects of the Edo State’s economy that have made Edo the preferred destination for investment.

“The 5500bpd Edo Modular Refinery, which is at 95 percent completion; the 55MW CCTEC-Ossiomo Power Plant, which has been completed and ready for use; the Benin Enterprise and Industrial Park, which development is ongoing and the Benin River Port, for which preliminary works are ongoing, among other legacy projects of the Obaseki-led administration were birthed on the back of the governor’s ease of doing business reforms and partnerships with strategic investors. With his inauguration on November 12, we are energised to invest more in the state as we are confident that our investment is secure.”

One of the investors in the Utesi industrial cluster, Omoregie Osunbor noted: “The Obaseki-led government in the first term promoted local enterprise by adopting a strategy that ensures that the people patronise entrepreneurs and businesses in the state, which ensured a strong and vibrant productive sector. This is evident in what we have at the Utesi Industrial corridor, where a lot of production is ongoing and we are certain that these would be improved upon.”

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