The Governor of Edo State, Mr Godwin Obaseki, has disclosed plan by his administration to invest N7bn in investment promotion, as a way of encouraging foreign investors.
The governor said his 2019 budget proposal to the Edo State House of Assembly would enhance efforts to boost the economy of the state, according to a statement on Tuesday.
Obaseki said, “Our efforts at expanding the state’s economic base will receive a major boost this year as we plan to spend N7.007bn on investment promotion, which will help bring to fruition a number of our investment initiatives.
“Through this, we intend to provide guarantee for investments from the private sector, match funding for projects and provide the right environment for investors to come on board.
“Our big-ticket projects, including the Benin Industrial Park, the Benin River Port and Edo Modular Refinery Project, are well on course.
“Three billion naira (N3b) has been set aside as the contribution of the state as initial investment commitment for the Benin Industrial Park, the necessary preliminary works are ongoing and in no distant time, the first set of companies will set up shops to provide jobs and services in the state.”
Source: Punch Newspaper