The economy of Edo State has grown by 140% from $10.6 billion to $25.8 billion over the past seven years under Governor Godwin Obaseki, according to Dr. Asue Ighodalo, chairman of the Alaghodaro Economic Summit.
Speaking at the 2023 Alaghodaro Investment Summit attended by Obaseki, billionaire Aliko Dangote, and other prominent guests, Ighodalo said the state’s significant economic growth outpaced the national Nigerian economy, which grew just 4% over the same period.
Ighodalo credited Obaseki’s business-friendly policies and reforms for attracting over $4 billion in new investments through the annual Alaghodaro Summit alone. He said Edo has proven itself capable of overcoming Nigeria’s challenges to achieve rapid development and economic success.
Key policy areas driving growth in Edo include agriculture, manufacturing, infrastructure, and tourism. The state’s rich cultural heritage and tourist attractions, combined with Obaseki’s focus on safety, security, and infrastructure improvements, have transformed it into an investors’ haven, according to Dangote Group Managing Director Olakunle Alake.
Obaseki highlighted six pillars his administration has focused on: institutional reforms, the economic revolution, social welfare, infrastructure development, environmental sustainability, and arts and culture. He said bold reforms have positively impacted millions of lives and put Edo on a path to sustainable, accelerated growth.
Achievements include introducing an ERP system and high public sector wages, training over 6,000 civil servants, delivering 10,000 devices, and creating new workspaces for government agencies. Obaseki said his government has delivered on promises to reform and modernise Edo State’s economy.
The annual Alaghodaro Summit showcases Edo’s progress under Obaseki since he took office seven years ago. The 2023 theme is “The Edo Story: Creating Shared Opportunities into the Future.”