The Edo State Investment Promotion Office (ESIPO) says the most active sectors that have attracted local and foreign investments into the state in the last two years are oil palm, poultry processing and retail sectors.
Disclosing this in a recent chat with journalists, in Benin City, the Managing Director, ESIPO-Ease of Doing Business Secretariat, Mr. Kelvin Uwaibi, said between 2021 and 2022, there were investments in agriculture, food processing, and energy sectors.
He listed some of the companies that have made substantial investments including – Persianas Group, which is building the Benin City Mall, on Sapele Road.
“There is also Amo Farm Poultry Processing Plant located at Obayantor, Ikpoba-Okha Local Council, Fayus Oil Palm Company and Prime Agro Seed, and other companies from Asia.
“In the energy space, Ossiomo Power Plant in Ologbo has expanded and then we have two new refineries – one at Ologbo, Ikpoba Okha GRA, and the other at Egbokor, in Orhionmwon council.”
Uwaibi noted that the investments have ensured that the state remains a good destination for those looking to expand their businesses in Nigeria, citing the availability of a steady power supply from Ossiomo Power as a good incentive.
He added that the Benin Port project, which is coming onstream, is expected to even attract more investments in the agriculture, maritime, and ancillary sectors.