posted November 11, 2023
The Alaghodaro Investment Summit in Edo State has become a platform to showcase the developmental strides and achievements of the government under Governor Godwin Obaseki. The summit, now in its seventh edition, has brought together past and present leaders, as well as other dignitaries, to discuss the progress and future prospects of the state.
Governor Obaseki, said his government has, in the past seven years, reengineered Edo State for growth and development, and consciously laid a solid foundation for the State’s future.
Governor Obaseki highlighted six thematic pillars that guided the government’s focus: institutional reforms, economic revolution, social welfare, infrastructure development, environmental sustainability, and arts and culture. These pillars were designed to positively impact the lives of Edo citizens and lay the foundation for sustainable growth.
L-R: Former Edo State Governor, Chief Lucky Igbinedion; Governor Godwin Obaseki; former Edo State Governor and Senator representing Edo North Senatorial District, Senator Adams Oshiomhole, and former Edo State Governor, Chief John Odigie-Oyegun, at the 2023 Alaghodaro Investment Summit, at the Government House in Benin City, on Friday, November 10, 2023.
Former governors, including Comrade Adams Oshiomhole, John Odigie-Oyegun, and Chief Lucky Igbinedion, commended Governor Obaseki for his developmental strides in various sectors of the state’s economy. This bipartisan support indicates a consensus on the positive impact of Obaseki’s administration.
The summit is a rallying point for stakeholders in Edo’s shared vision of prosperity and greatness to deliberate and reach key decisions that drive programmes, initiatives and policy of government, which have so far, transformed Edo to emerge as Africa’s most competitive sub-national.
Governor Obaseki, who noted that Edo has the potential to produce 70 percent of Nigeria’s imported products and reduce the burden on Foreign Exchange (Forex), said his government has attracted investments in agriculture, manufacturing, retail, health, arts and culture, tourism and hospitality, among other sectors.
Noting that his government has delivered on promises made to Edo people, the governor said, “In the civil service, we have introduced a Computerized ERP System (E-Gov). We operate the highest paid Civil/Public Service in the Country and have set up a world-class training infrastructure at the John Odigie Oyegun Public Service Academy, trained over 6,000 of Civil/Public servants and delivered over 10,000 devices across the Service and delivered new infrastructure (workspace) to 76 MDAS in the State.”
Governor Obaseki emphasized attracting investments in key sectors such as agriculture, manufacturing, retail, health, arts and culture, tourism, and hospitality. Notable projects mentioned include the Benin Port and Enterprise Park. The governor asserted that partnerships and Memoranda of Understanding (MOUs) have contributed to the financial sustainability of the state.
The Chairman of the Board of Trustees at the summit, Dr. Asue Ighodalo, reported significant economic growth in Edo State. The state’s economy reportedly grew by over 140 percent, from $10.6 billion to $25.8 billion, over the past seven years. This growth is seen as substantial, especially when compared to the national growth rate of 4 percent over the same period.
According to him, this is against the four percent growth recorded at the national level over the same period.
Ighodalo, who is also the Chairman of Sterling Bank Plc, disclosed this in his welcome address at the 2023 Alaghodaro Investment Summit taking place in Benin City, the Edo State capital.
He said, “Over the past eight years, Edo State has grown 140 percent from an economy of $10.6 billion to $25.8bn today, while Nigeria’s economy grew at 4 percent.
“Edo State can become first world economy regardless of the challenges of Nigeria. The new investments attracted from new investors is put at $4 billion sourced from Nigeria and from joint partnerships as the State has the capacity and will.
“Edo State must set out at dawn to make progress and pull other parts of Nigeria and other regions up. We must continue to show in Edo that there is great hope for Nigeria through Edo State. The State can drag Nigeria out of its untapped potential, re-directing the nation to a point of development.”
Ighodalo noted “Edo story tells us we are not a State that lacks capacity to do well. The Alaghodaro phrase means progress, moving forward, and looking ahead as the word should be a challenge to us in Edo and the purpose of the summit is to set Edo on the path of growth and development.”
Aliko Dangote, represented by the Managing Director of the Dangote Group, Mr. Olakunle Alake, commended the state for leveraging its comparative advantages. Edo State was recognized for its potential in agriculture, agro-processing, culture, and tourism. The business-friendly environment and reforms in these sectors were highlighted as factors attracting investments.
Aliko Dangote emphasized the ease of doing business in Edo State as a major attraction for investors. The state’s commitment to security, infrastructure development, and promotion of tourism has contributed to creating an environment conducive to investment.
He said, “Edo State has comparative advantage over every other State in the area of agriculture and agro-processing as well as tourism sectors.
Investments are coming into Edo State because of the friendly environment created by the governor for investors and today, Edo has become an investment destination.
“The State boasts of tourist sites across various locations in the State and the State Government has taken advantage of it to turn the State into a tourism hub.”
Dangote added, “The ease of doing business in Edo State is the point of attraction for investors to invest in various locations as infrastructure plays a major role in ease of doing business in the State.
“The State is also secured and it has promoted many investors to invest in the State and this has gone a long way to grow the economy of Edo State.”
Dignitaries at the occasion include the Edo State First Lady, Mrs. Betsy Obaseki; Governor of Delta State, Sheriff Oborevwori, Chairman and CEO of the Dangote Group, Alhaji Aliko Dangote, Chairman of the Board of Trustees, Alaghodaro Economic Summit Ltd/Gte, Asue Ighodalo, Secretary to the Edo State Government, Osarodion Ogie Esq., former Edo State Deputy Governor, Mike Ogiadomhe and Speaker of the Edo House of Assembly, Hon Blessing Agbebaku. Chief of Staff to Edo State Governor, Osaigbovo Iyoha, Edo State Head of Service, Anthony Okungbowa Esq., Chief Judge of Edo State, Daniel Okungbowa, among others.
The summit’s theme, “The Edo Story: Creating Shared Opportunities into the Future,” reflects a commitment to sustained growth and development. The collective goal is to position Edo State as an investment destination and a hub for tourism and economic activities.
In summary, the Alaghodaro Investment Summit serves as a platform to showcase Edo State’s achievements, garner support from past and present leaders, and attract investments to further propel the state’s economic growth and development.