I Grew Edo Economy From N10bn To N25bn In 8 Years – Obaseki

The outgoing Governor of Edo State Godwin Obaseki has given himself a pat on the back, saying under his stewardship, the economy of the state grew from N10 billion to over N25 billion.

Obaseki disclosed this in his final statewide broadcast to herald the end of his eight years administration in Edo State.

Society watch reports that the outgoing governor, whose administration ended on Tuesday, November 12, 2024, would be replaced by Senator Monday Okpebholo of the All Progressives Congress, APC.

READ ALSO: I Will Not Betray You – Gov Okpebholo Promises Edo, Unveils ‘Five Point Agenda’

Obaseki in the broadcast, said the state’s economy grew in the agricultural, oil and gas, and manufacturing sectors.

He added that the state’s internally generated revenue, IGR, would peak at N85 billion by December this year.

He said, “Our economy has grown from 10 billion when I took over office to over 25 billion today. Our internally generated revenue IGR will peak at 85 billion by December this year.

“We started a revolution in agriculture in Edo State where under the Edo State Oil Palm program, we have allocated over 120,000 hectares of land for oil palm estate development. About 40,000 hectares of this land have been cultivated.

“With this and the strides which we have made in the cultivation of cassava as a feedstock for the two ethanol plants in Edo State.

“We have an assured future as Nigeria’s preeminent palm oil and cassava producing state. We have also utilized our endowments as an oil and gas-producing state to become a leader in the petrochemical sector.

“We have attracted two modular refineries, including the Edo Refinery and Petrochemical Company, which operates the 6000 barrels per day refinery, and the DuPont Energy Park, which operates an integrated energy facility including a 5000 barrels per day modular refinery.

“In addition to investments in hydrocarbons, we have also attracted billions of dollars into manufacturing items like ceramics, tiles, glass, iron and steel, wood, and cement among others.

“All these are results of the groundwork we did to stimulate economic activities by attracting investments into the various sectors of the state’s economy.

“Across agriculture, energy, manufacturing, real estate, retail and technology. We have attracted Investments that have transformed our state into an oasis of hope.”

The outgoing governor also said that in the last eight years, his government significantly improved infrastructure across the length and breadth of Edo State.

He said the administration constructed over 850 kilometers of state roads across all local governments in the state.

“We now generate almost 1000MW of electricity daily in the state. And with our new electricity law, we now have an electricity market which will attract more investors in the area of digital infrastructure.

“Edo State leads in Nigeria with a network of almost 2500kilometres of fiber optic cables across the state,” he added.

He noted that as his administration came to an end, he was leaving behind something “which I wasn’t fortunate to inherit. And this is a plan which will serve as a compass for the future”.

“As I come to the end of my tenure in office and reflect on the journey these last eight years, there is sufficient evidence to show the remarkable progress which we have made by working together with all those who mean well for our state and country.

“We have demonstrated that it is possible to change the circumstances of our state.”