Edo State Economy Moves From 14th To Top Five

The Edo State Governor, Mr. Godwin Obaseki, has said the ease of doing business reforms and other economic policies and programmes implemented by his administration over the past seven years, has repositioned the State as one of the top five economies in the country.

Speaking to journalists in Benin City, the governor said his government will sustain efforts to promote economic expansion, through sustained investments across various sectors of the State’s economy, necessary to drive growth and development.

A report by Economic Confidential, a subsidiary of PR Nigeria, has declared seven states, including Lagos, Ogun, Rivers, Kaduna, Kwara, Oyo and Edo as the most viable states in Nigeria for 2022.

The report was compiled from figures released by the Nigeria Bureau of statistics and the federal Account Allocation committee.

The governor said, “Seven years ago, Edo ranked between 13th and 14th in terms of GDP in the country. Today, we are a clear 5th. We’re top ten in the country in terms of the size of our economy and growth. But what is important is the growth that has occurred since we took over.
“We were able to achieve this by encouraging investment inflow that has contributed to the economy of the State. It’s the people as well as the activities of government that drive the economy. We have moved Edo State from the era where the government was doing things themselves to one in which the government is creating the enabling environment for people to come and invest and do business in the State.”

On plans to sustain the gains recorded in the growth of the State’s economy in the New Year, Obaseki said the government will continue to pursue reforms to facilitate economic expansion and other enablers.

He said: “We have made an allocation in the 2024 budget to drive economic and employment enablers. These will enhance the ease of doing business and also facilitate the injection of private capital into the economy to create more opportunities for our teeming youth population.”

“Some of these include investment in our legacy projects including the Benin Enterprise Park, the Benin Port Project, and the Trailer Park projects, among others, which will spur economic expansion and growth,” Obaseki added.

PR/Olusola Akintonde