How public-private partnership is deepening investment in Edo, driving devt

Obaseki, who disclosed this to journalists at the weekend in Benin City, said his government has pursued reforms and programmes to create the enabling environment to ensure the influx of investors and growth of businesses.

He said Edo has reaped immense socio-economic benefit through the government’s sustained partnership with the private sector, listing public-private projects such as the Ossiomo Power project, the 6000bpd Edo Refinery and Petrochemical Company Limited and the Edo State Oil Palm Programme (ESOPP), among others.

According to him, “We signed a Power Purchase Agreement (PPA) with Ossiomo Power Company to provide stable power to government institutions and to also drive the state’s industrial sector. Today, the company generates 95MW out of 550MW it has set out to provide, supported with a distribution infrastructure that has been developed to supply government offices, streetlights and the state’s growing industrial sector with constant electricity.

“This close links with the private sector has also led to the establishment of the 6000bpd Edo Refinery and Petrochemical Company Limited (which is 100 percent complete) a landmark project that shows what is possible with well-intentioned Private Public Partnerships (PPP). The model that birthed the refinery project is being deployed for similar high-impact development and industrial projects in the state.

“In partnership with the private sector, we have also midwifed extensive agricultural development programmes such as the Edo State Oil Palm Programme (ESOPP), among others, which have opened up the space for large scale commercial farming in the state, impacting the lives of thousands of farmers.”

“There is no better illustration of the expanding private sector space than the increased air traffic and high occupancy rate of hotels in the state. When we came into office, there were only two airlines flying into the state, today, there are five of them. The state has generally become more attractive to investment with the influx of investors in real estate, hospitality, oil and gas, industries, technology, agriculture, and manufacturing, among others,” Obaseki added.