The Managing Director Edo State Investment Promotion Office (ESIPO), Mr. Kelvin Uwaibi, has said that the passage of a bill by the Edo State House of Assembly for a law to repeal the Rural Electricity Board Law of 1972 thereby establishing an electricity market for Edo State that will boost businesses especially the manufacturing sector in the State.
Uwaibi said this in his office in Benin City, while responding to questions from journalists attached to the Edo State House of Assembly on the passage of the bill for a law to repeal the Rural Electricity Board Law of 1972 and a bill for a law to establish the Edo Diaspora Agency.
Commending the speaker of the Edo State House of Assembly and his team for their commitment in accelerating the passage of the bills that would strengthen the business regulatory environment in the State, the ESIPO Managing Director noted that the House of Assembly is a critical stakeholder in ensuring a friendly business environment. He added that investment promotion is like security which is everybody’s business.
According to him, “this is a big one for us as a State in terms of creating an enabling business environment. I congratulate the Speaker and his team for this great achievement. As you know, electricity is key for businesses. Therefore, in attracting investments, it is one of the very important things which affect location of industries as of today. I can assure you that this news will further boost investors’ confidence in our dear State.
“Recall that this bill is to make provision for electricity and its generation, transmission and distribution within and for the residents of Edo State. What that means is that we will be able to expand what is already on ground such as Ossiomo Electricity Power. So, this is a huge one for us as a State.”
Also on the passage of a bill for a law to establish the Edo Diaspora Agency, Uwaibi noted that it is also strategic, adding that it would enable the State to explore the opportunities in the Diaspora by attracting Edo people in the Diaspora to invest in the State.
He said: “Edo people in the Diaspora are doing very well in all fields of human endeavor. As a State, we want to be able to explore all the opportunities to bring our people to invest in their home.
“We have a good number of them who are ready to invest here once they are sure of the enabling environment. That is exactly why the House of Assembly has to ensure a good regulatory environment. With the passage of these two bills, I am sure a lot of positive things will happen in the State’s business environment in the coming months.”
