By Abdul-Kadir Abdullah
The Managing Director, Edo State Investment Promotion Office (ESIPO), Ease of Doing Business Secretariat, Mr. Amen Odigie has emphasized the state's dedication to creating an enabling environment for businesses to thrive.Odigie gave the assurance in a policy dialogue tagged delivery progress: 100 Days of Strengthening Governance Accountability and Citizen Engagement, which was held in Benin City, the state capital on Friday, February 21, 2025.
According to the MD, who participated as a panelists discussing the topic: “Deepening Economic Growth: Support for SMEs, PPPs, the Ease of Doing Business and Oil and Gas: The Journey so far, Envisioning a Greater Future”, there is a strong correlation between infrastructure development, access to SME financing, and overall economic growth, which is why infrastructure development is one among the governor Okpeholo’s five point agenda.
He noted, "We recognize that inadequate infrastructure and limited access to finance have historically hindered Nigeria's economic progress, in Edo State, we are tackling these challenges head-on. For access to finance for businesses, when I resumed office in December, 2024, the first programme we carried out was a sensitization programme on the Federal Government of Nigeria ₦75 billion naira MSME fund, which we carried out in collaboration with the Bank of Industry."
The MD outlined plans to collaborate with EdoJobs to further support 5,000 small businesses with interest free loans of Governor Okpeholo’s administration, facilitating access to credit through programmes like the Federal Government's ₦75 billion MSME fund, NIRSAL Microfinance Bank among other financial institutions. He also mentioned ongoing efforts to develop an automobile spare parts market and mechanic village in Auchi, Etsako West Local Government Area, and facilitation of the Monee International market in Ikpoba Okha Local Government Area.
Odigie added, “We have also said that, it is not just to make money. Human capacity development is also very important. We are already discussing with organizations like the South Africa Embassy for collaboration in skills and knowledge transfer. We hosted the Ambassador sometimes last month. We want our youths to go to South Africa to learn skills and come back to teach others”
The panel, which included Reverend David Ugholo, a private person individual, Felix Osenwengie Isere Esq, Special Adviser on Oil and Gas, Kizito Okpebholo, Special Adviser on Investment showcased a range of strategic initiatives. A cornerstone of the strategy is fostering public-private partnerships to stimulate economic growth.
The operationalization of the Edo State Mining Investment Company as highlighted by Mr. Kizito Opkeholo, signals the state's commitment to leveraging its mineral resources. With 33 mining licenses already acquired for various minerals, the state is preparing to sublease these licenses to both local and foreign investors. The ongoing development of a new cement factory by BUA further underscores the state’s attractiveness for investment. Okpebholo stressed the importance of exploration data in attracting foreign investors, stating, "We are committed to providing potential investors with the necessary information to make informed decisions."
Environmental sustainability and community engagement were recurring themes. Reverend Ugholo emphasized the need for community co-ownership of benefits derived from natural resources, advocating for frameworks that ensure equitable sharing and intergenerational responsibility. This sentiment was echoed by Felix Osenwengie, who spoke about plans to open up the state's oil and gas sector for market building and economic growth, while ensuring that benefits reach the communities. "We are committed to responsible resource management," Osenwengie affirmed. "It is crucial that our communities benefit directly from the development of our natural resources."
