Edo State Governor, Mr. Godwin Obaseki, has emphasized the significant role of various partnerships and Memoranda of Understanding (MoUs) in boosting the state’s economy. This statement was made during the 2023 Alaghodaro Investment Summit, which also marked the seventh anniversary of his administration. The summit witnessed commendations from past governors of the state, including Adams Oshiomhole, John Odigie-Oyegun, and Lucky Igbinedion, who acknowledged Obaseki’s developmental efforts across various sectors.
Obaseki outlined his government’s focus on six thematic pillars: institutional reforms, economic revolution, social welfare, and infrastructure development. He highlighted the introduction of a Computerised ERP system in the civil service and the establishment of the John Odigie Oyegun Public Service Academy. These initiatives have led to the training of over 6,000 civil/public servants and the provision of new infrastructure to 76 Ministries, Departments, and Agencies in the state.
The governor also noted the consistent increase in the state’s monthly Internal Generated Revenue (IGR) collections since 2016, attributing this growth to conscious investments in boosting the local economy. Projects like the Benin Port and Enterprise Park are expected to further impact the state’s IGR.
Dr Asue Ighodalo, Chairman of the Board of Trustees, Alaghodaro Economic Summit Ltd/Gte, added that Edo State’s economy has grown by 140 per cent over the past eight years, from $10.6 billion to $25.8 billion, outpacing Nigeria’s four per cent economic growth.
Governor Godwin Obaseki’s focus on partnerships and MoUs as catalysts for Edo State’s economic growth is a strategic approach that deserves recognition. At Yohaig NG, we see this as a blueprint for other states to emulate. By prioritizing institutional reforms, economic revolution, social welfare, and infrastructure development, Obaseki’s administration is setting a standard for sustainable state governance.
The impressive growth of Edo State’s economy, as highlighted by Dr. Asue Ighodalo, is a testament to the effectiveness of these strategies. Other states must observe and learn from Edo’s approach, especially in terms of leveraging partnerships and MoUs for economic advancement.
However, it’s important to ensure that these partnerships are transparent and beneficial to the citizens. The focus should always remain on creating opportunities that improve the lives of the people, particularly in areas like job creation, education, and healthcare.
We encourage continued vigilance and accountability in these partnerships to ensure they yield the desired results. The success of Edo State can serve as a beacon for other states, demonstrating the power of strategic planning and collaboration in achieving economic prosperity.
Did You Know?
- Edo State’s Economic Growth: The state’s economy has grown significantly, outpacing the national average.
- Alaghodaro Investment Summit: This summit is a key platform for discussing and promoting investment opportunities in Edo State.
- Governor Godwin Obaseki: Known for his focus on economic development, Obaseki has been instrumental in driving growth in Edo State.
- Partnerships in Governance: Strategic partnerships and MoUs are increasingly becoming vital tools for economic development in governance.
- Economic Diversification: Edo State’s approach is a prime example of how diversification and strategic planning can lead to robust economic growth.