Edo State today played host to a critical Stakeholders’ Engagement with State Investment Promotion Agencies (SIPAs), organized by the Nigerian Investment Promotion Commission (NIPC).
The event, held in Benin City, brought together key players from across the nation to strategize on attracting and retaining investments, with a strong focus on diversifying Nigeria’s economy beyond crude oil.
Representing His Excellency, Governor Monday Okpebholo, the Secretary to the State Government (SSG), Barrister Umar Musa Ikhilor, formally declared the engagement open.
In his address, Governor Okpebholo emphasized Edo State’s commitment to creating a business-friendly environment and highlighted ongoing reforms through the Edo State Investment Promotion Office (ESIPO). These include the implementation of the Framework for Responsible and Inclusive Land-Intensive Agricultural Investments (FRILIA) and the support to strengthen the Edo State One-Stop-Investment Center (ES-OSIC) to streamline processes for investors.
The Governor also underscored the administration’s focus on security and infrastructural development as critical enablers for business growth.
According to him, “We firmly believe that security and infrastructural development are indispensable for effective business operations. Businesses cannot thrive in an uncertain environment or without the necessary infrastructure. This is why security is paramount in our SHINE agenda for Edo State. Recently, we amended the anti-cultism and anti-kidnapping law by stiffening penalties for criminals”
“This stakeholders’ engagement offers a valuable opportunity to strengthen collective capacity and build strong collaborations between NIPC and the State Investment Promotion Agencies (SIPAs), Development partners, and the private sector. Edo State is eager to learn from your insights and forge lasting partnerships that will contribute to Nigeria’s economic diversification”
“Edo State is open for business. We are dedicated to creating an enabling environment for investments to flourish. We invite you to explore the vast opportunities within our borders and partner with us in building a more prosperous future for Edo State and Nigeria”
The Managing Director of Edo State Investment Promotion Office (ESIPO), Hon. Amen Odigie, delivered a welcoming address that resonated with the theme of “Strengthening Capacity, Promoting Collaboration, and Diversifying Nigeria’s Economy.”
He stressed the urgency of economic diversification, citing the volatile nature of crude oil and pointing to the vast potential in sectors like agriculture, solid minerals, the digital economy, and creative industries.
Hon. Odigie reiterated Edo State’s eagerness to collaborate and learn from other states and development partners to attract impactful investments.
Aisha Rimi, Executive Secretary and CEO of the the Nigerian Investment Promotion Commission (NIPC), commended Edo State for hosting the forum and acknowledged the state’s investment potential. She reiterated NIPC’s mandate to promote and facilitate investments within Nigeria, highlighting the need for increased employment, industrialization, agricultural development, and improved infrastructure.
Ms. Rimi introduced the NIPC’s investment certification program for states, designed to foster efficient and effective business ecosystems, and noted the nascent Forum of the State Investment Promotion Agencies of Nigeria (FoSIPAN) as a unified platform for SIPAs. She urged states to maintain clear and transparent regulations, reduce bottlenecks, and ensure the security of investments and persons to attract and retain capital.
The event saw active participation from other state investment promotion agencies, including representatives from Ogun State, demonstrating a collective commitment to national economic growth. A goodwill message was also delivered by Engr. Ahmed Idris, Plant Director of BUA Cement PLC, among other industry stakeholders, underscoring the private sector’s vital role in driving investment and development.
The stakeholders’ engagement provided a valuable platform for knowledge sharing, fostering collaborations, and aligning strategies to unlock Nigeria’s vast economic potential. Participants expressed optimism that the deliberations would lead to stronger partnerships and a more robust investment climate across the country, ultimately contributing to a diversified and resilient Nigerian economy.
By
Abdul-Kadir Abdullah
