• Thursday, February 29, 2024
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Edo lists agric, retail, energy as most active sectors in last 2yrs

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

The Edo State Investment Promotion Office (ESIPO) has identified oil palm, poultry processing, retail and energy as the most active sectors that have attracted local and foreign investments into the state in the last two years.

Kelvin Uwaibi, managing director, Edo State Investment Promotion Office (ESIPO)-Ease of Doing Business secretariat, disclosed this to journalists in Benin City.

Uwaibi pointed out that the investments have ensured that the state remain a good destination for those looking to expand their businesses in Nigeria.

Read also: Edo State: A rising economic hub in Nigeria, powered by innovation, collaboration

According to him, “Between 2021 and 2022, there are investments in the agriculture, food processing and energy sectors. Some of the companies that have made substantial investments include Persianas Group, which is building the Benin City Mall on Sapele road.

“There is also Amo Farm Poultry Processing Plant located at Obayantor, Ikpoba-Okha local government area of Edo State. Fayus Oil Palm Company and Prime Agro Seed and other companies from Asia.

He added: “In the energy space, Ossiomo Power Plant in Ologbo has expanded and then we have two new refineries; one at Ologbo, Ikpoba Okha LGA and the other at Egbokor, in Orhionmwon LGA.”

He further said that the Benin Port project, which is coming on stream, is expected to attract more investment in the agriculture, maritime and ancillary sectors.