Edo State Governor, Godwin Obaseki, has unveiled ambitious plans for the state’s economic development, stating that the Internally Generated Revenue (IGR) is expected to surpass N70 billion by 2024. In an interview with newsmen over the weekend, Governor Obaseki attributed the consistent growth in the state’s monthly IGR since 2016 to strategic investments made by his administration in various sectors.
The governor outlined that the anticipated IGR boost would stem from capitalizing on the state’s comparative advantages and exploring opportunities in technology, culture, manufacturing, and agriculture. Obaseki emphasized that the government had been working as an enabler to stimulate business opportunities and attract private investors to Edo State.
Highlighting the focus on the economy over the past seven years, Governor Obaseki noted the administration’s efforts to create an economic revolution in Edo State. He stated, “Government is now working more efficiently, and we are seeing the results of the hard work in terms of revenue increases.” The governor expressed confidence that the state’s IGR would exceed N70 billion in the coming year.
Obaseki cited ongoing projects, such as the Gelegele Seaport and Enterprise Park, as contributors to the future growth of the state’s Internally Generated Revenue. Additionally, he highlighted initiatives in the agricultural sector, particularly with cassava, ethanol, and oil palm. The governor revealed plans to launch around 60 shops in the Benin Mall by the end of the year, emphasizing the organized infrastructure to support private sector production.
Looking ahead, Governor Obaseki envisioned a future where the government collaborates closely with the private sector to drive Edo State’s economic growth. He mentioned the development of Enterprise Parks in Benin, Edo Central, and Edo North, illustrating the administration’s commitment to fostering a thriving business environment in the state.
