Investors savor brighter future for Edo with 2020 Alaghodaro summit

Local and international investors have predicted a positive economic outlook for Edo State, as Governor Godwin Obaseki seeks to consolidate on his reforms and programmes to make the state an investment hub.

This is coming as preparations for Obaseki and his deputy, Philip Shaibu’s inauguration for a second term in office on Thursday, November 12, 2020, peaked this week.

The event would be held alongside the fourth edition of the annual Alaghodaro Summit, which is anchored on Obaseki’s “Making Edo Great Again” manifesto.

A cross-section of investors, who spoke to journalists in Benin City, attributed the growing confidence among investors to expand their businesses in the state to the Obaseki administration’s ongoing reforms and policies, expressing confidence in his people-oriented and business-friendly reforms.

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

Also speaking, Okoduwa Osakue said: “Investors in the state are not just delighted at Obaseki’s victory, but are confident that his inauguration for a second term signals a brighter future for the state, as he is determined to improve on ongoing reforms in various sectors of the state economy that has made Edo a preferred investment destination.

“The 5500bpd Edo Modular Refinery, which is at 95 per cent completion, the 55MW CCTEC-Ossiomo Power Plant, which has been completed, the Benin Enterprise and Industrial Park, which development is ongoing and the Benin River Port for which preliminary works are ongoing, among other projects are anchored on Obaseki’s ease of doing business reforms and partnership 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.”

Investors in the Utesi Industrial Cluster, Omoregie Osunbor noted: “During its first term, the Obaseki administration promoted local enterprises by adopting a strategy that ensures that 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.”