The Edo State Governor, Mr. Godwin Obaseki, has charged investors intent on exploiting the offerings of the African Continental Free Trade Area (AFCFTA) to leverage the state’s competitive advantage in energy supply and human capital assets and set up large scale industries in the state, to conquer the African continent.
The governor said this in commemoration of this year’s Africa Industrialisation Day, marked by the United Nations and its sister agencies.
Governor Obaseki stressed that the Ossiomo Independent Power Plant (IPP) located at an industrial corridor in the state among other incentives by the state government solves perennial challenges faced by large scale companies, making the state an investor’s delight.
He noted: “As we mark the African Industrialisation Day, it is pertinent to inform investors that Edo State is the best place to do business if you think of setting up industries. We have stable electricity at the Sapele Road axis that would provide industries with 24 hours electricity.
“The 55MW CCETC-Ossiomo power plant is already powering the Samuel Ogbemudia Stadium, and a lot of private investors are showing interest to move in. The plant is already expanding. There is also willing and well-qualified human capital to run these factories.”
The governor noted that he facilitated the setting up of the power plant and the Edo Refinery and Petrochemical Company Limited (ERPC), as part of efforts to drive a deliberate industrialization policy to boost productivity, create wealth and jobs for the state’s teeming youth population.
“The AFCFTA has been ratified by Nigeria. When it comes into effect in January, Edo State is positioned to be the prime destination for companies looking to capture the African market. We have people who are ready to work and also a conducive investment climate, where electricity is guaranteed.”
“As we advance in the quest of industrializing Africa, Edo State presents a golden opportunity for investors. We have made the initial commitment by attracting the right investment to support manufacturing businesses, with an eye to conquer the African market,” the governor added.
According to the United Nations, “Industrial development is of critical importance for sustained and inclusive economic growth in African countries. Industry can enhance productivity, increase the capabilities of the workforce, and generate employment, by introducing new equipment and new techniques.
“Industrialization, with strong linkages to domestic economies, will help African countries achieve high growth rates, diversify their economies and reduce their exposure to external shocks. This will substantially contribute to poverty eradication through employment and wealth creation.”
