• Tuesday, December 05, 2023
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Edo attracts over $2.5 billion investments- ESIPO

Edo lists agric, retail, energy as most active sectors in last 2yrs

The Edo State government on Friday said it has so far attracted over $2.5billion investment to the state’s economy since 2017.

Kelvin Uwaibi, managing director/chief executive officer, Edo State Investment Promotion Office (ESIPO) made the disclosure during a courtesy visit to the leadership of the Edo State Council of the Nigeria Union of Journalists (NUJ) in Benin City.

Uwaibi said the funds were attracted from agriculture, technology, power and retails.

He added that the fund was attracted by teams from the various Ministries, Department and Agencies (MDAs) headed by the State Governor, Godwin Obaseki.

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He, however, disclosed that ESIPO has successfully attracted diverse investments and bolstering Edo’s economic landscape.

Uwaibi, who opined that ESIPO serves as a driving force behind Edo State’s economic transformation, added that its mandate extends to creating an investor-friendly environment, fostering MSMEs growth as well as ensuring a conducive regulatory framework for businesses to thrive

“The Ease of Doing Business (EoDB) reforms, spearheaded by ESIPO, have streamlined bureaucratic processes and enhanced the investment climate.

“The growth of Micro,Small and Medium Enterprises (MSMEs) has been significantly catalyzed, contributing to local job creation and economic empowerment. ESIPO’s efforts have also cultivated a favourable regulatory environment that nurtures business growth and innovation.

“ESIPO aspires to position Edo State as a preferred investment destination, ripe with opportunities across various sectors. By capitalizing on our strategic location, skilled workforce, and vibrant culture, we aim to attract both domestic and international investors.

“The ultimate goal is to foster sustainable development, create employment opportunities, and enhance the overall qualify of life for Edo’s residents”,he said.

In his remarks, Festus Alenkhe, the State Chairman of NUJ, who commended ESIPO for its economic development in the state, however, urged the management to grow the state’s economy by attracting Foreign Direct Investment.

Alenkhe also urged the state government to partner the Federal Government in its policies geared towards reducing poverty and unemployment