Since the assumption of office of the Governor Monday Okpebholo-led administration, Edo State has continued to record visible progress in attracting direct investments and strengthening critical sectors of the state’s economy. Through strategic engagements with investors, private-sector partners and financial institutions, the administration is creating opportunities for economic expansion, job creation, industrial development and improved infrastructure.
One of the notable investments is the ₦9 billion South-South regional corporate office of Skyewise Group, inaugurated along Airport Road in Benin City. The facility, which covers automotive services, luxury apartments and financial services, represents a significant private-sector investment and further demonstrates growing investor confidence in Edo State as a destination for business and commerce.
In the power sector, the state has secured a 10 per cent equity stake in a major 100-megawatt power plant project, in partnership with CCETC and FirstBank. The initiative is expected to contribute to strengthening the state’s power infrastructure and supporting economic activities that depend on reliable electricity.
The administration has also continued to explore opportunities in the oil and gas sector, including engagements with the Nigerian National Petroleum Company Limited (NNPC) on a proposed 10,000-barrel-per-day condensate refinery project. If realised, the project has the potential to deepen industrial activity, create employment opportunities and strengthen Edo State’s position within Nigeria’s emerging energy economy.
In agriculture and agribusiness, Edo State has recorded a $100 million foreign direct investment boost linked to Presco PLC, while efforts are also being made to expand agricultural financing and improve the investment environment through land reforms under the Framework for Responsible and Inclusive Land-Intensive Agricultural Investments (FRILIA).
The automotive sector is equally receiving attention, with the ongoing construction of a $3 million Zeta automobile assembly plant under a Public-Private Partnership (PPP) Memorandum of Understanding. The project is expected to contribute to local manufacturing, skills development, employment generation and the broader industrialisation of the state.
The administration’s commitment to expanding electricity access is further reflected in the development of a 7.7MW mini-grid electricity project in Edo Central by Izenergy Limited, as well as a 3.3MW mini-grid electricity project by Halimat Hospital Limited in Okpella, Edo North. These initiatives are particularly important in supporting businesses, communities and economic activities through improved access to electricity.
Taken together, these investments represent some of the visible direct investments and strategic economic interventions emerging under the Governor Monday Okpebholo-led administration. They reflect a deliberate approach to attracting private capital, strengthening critical infrastructure, promoting industrialisation and creating an enabling environment for sustainable economic growth across Edo State.
As the administration continues to deepen its engagement with investors and development partners, the ultimate objective remains clear: to build a stronger, more productive and investment-driven Edo economy capable of creating jobs, expanding opportunities and improving the standard of living of the people.
Signed:
Hon. Haruna Braimoh
Special Adviser on Public Affairs and Media to the Edo State Governor
Discover more from Urbanscoopnews
Subscribe to get the latest posts sent to your email.
