The Edo State Government has signed a transformative $250 million investment agreement with the European African Chamber of Commerce and Industries (EuroAfrica CCI), a powerful coalition representing chambers of commerce from 98 countries across Europe and Africa.
The deal, inked during the 2025 Edo State Global Investment Summit in Glasgow, Scotland, marks a significant milestone in the state's economic diversification efforts just 10 months into Governor Monday Okpebholo's administration.
Governor Okpebholo, who led the Nigerian delegation, hailed the partnership as a "framework for strategic investment" aimed at bolstering key sectors including agriculture and agro-processing, mining and solid minerals, technical education and skills training, renewable energy, and green infrastructure.
The five-year agreement, with provisions for joint reviews to ensure transparency and accountability, is designed to channel foreign direct investment (FDI) through the Edo State Diaspora Agency, leveraging the global Edo community to drive job creation and industrial growth.
Representing EuroAfrica CCI, Director General Ambassador Dr. Kingsley Obasohan pledged full alignment with Nigeria's and Edo State's local content policies, emphasizing that the funds would "directly empower Edo citizens by building capacity, creating employment, and expanding industrial value chains."
Obasohan highlighted the chamber's track record, noting prior investments exceeding $149 million in gamma radiation programs across Africa to enhance economic value and job opportunities.
Governor Okpebholo assured his administration's commitment to innovation, transparency, and people-centered governance, stating, “We will uphold transparency, accountability, and strong institutional support to ensure that these investments translate into jobs, opportunities, and sustainable development for Edo people.”
He added that Edo's abundant resources—ranging from mineral wealth to favorable topography—position the state uniquely for growth, but stressed the need for collaborative partnerships beyond government alone.
The summit, which drew global leaders, investors, and development partners, also featured dialogues with Edo indigenes abroad, showcasing the diaspora's pivotal role in unlocking investment opportunities.
Loretta Ogboro-Okor, Director-General of the Edo Diaspora Agency, described the event as a testament to "the power of unity, innovation, and the critical role of Edo’s global community in development."
This FDI influx is Edo's first major foreign investment under Okpebholo's leadership and signals the state's rising appeal as a premier destination for investors in Nigeria.
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