Obaseki celebrates economic growth in Edo, boasts about increasing revenue from N10bn to N25bn in 8 years
On Tuesday, November 12, 2024, Governor Godwin Obaseki of Edo State gave a glowing review of his administration’s achievements, highlighting the state’s impressive economic growth during his eight years in office.
In his final statewide broadcast, which marked the end of his tenure, Obaseki shared that under his leadership, the state’s economy grew from N10 billion to over N25 billion. He also revealed that the state’s internally generated revenue (IGR) is expected to reach N85 billion by December 2024.
“Our economy has grown from N10 billion when I took office to over N25 billion today,” Obaseki proudly stated. “By December, our IGR will peak at N85 billion.”
The governor emphasized that this growth was driven by significant strides in key sectors such as agriculture, oil and gas, and manufacturing. Obaseki pointed to the Edo State Oil Palm Program, which has allocated over 120,000 hectares of land for oil palm estate development. He added that 40,000 hectares of this land had already been cultivated, making Edo one of Nigeria’s leading palm oil producers.
“We have an assured future as Nigeria’s preeminent palm oil and cassava producing state,” Obaseki declared. He also highlighted progress in the cassava industry, particularly the development of two ethanol plants in the state.
In the oil and gas sector, Obaseki’s administration attracted two modular refineries, including the Edo Refinery and Petrochemical Company, which operates a 6,000 barrels per day refinery, and the DuPont Energy Park, with a 5,000 barrels per day refinery.
Obaseki also celebrated the growth in the state’s manufacturing sector, mentioning investments in ceramics, tiles, glass, iron and steel, and cement, which have brought billions of dollars into the state.
“Across agriculture, energy, manufacturing, real estate, retail, and technology, we have attracted investments that have transformed our state into an oasis of hope,” he said.
In addition to economic growth, Obaseki highlighted his administration’s infrastructure achievements. He noted the construction of over 850 kilometers of roads across Edo State and the significant improvement in electricity generation, with nearly 1,000MW of power being produced daily.
“Edo State now leads Nigeria with a network of almost 2,500 kilometers of fiber optic cables,” Obaseki added, stressing the state’s leadership in digital infrastructure.
Reflecting on his eight years in office, Obaseki expressed pride in the progress made, stating that he was leaving behind a comprehensive plan to guide the state’s future development.
“As I come to the end of my tenure, I leave behind a plan which will serve as a compass for the future,” he said. “We have demonstrated that it is possible to change the circumstances of our state.”
The outgoing governor also acknowledged the efforts of all those who had supported his administration, saying that the success of his tenure was a collective achievement.
With the conclusion of his administration, Senator Monday Okpebholo of the All Progressives Congress (APC) is set to take over as the new governor of Edo State.
