Obaseki: I boost Edo economy from N10bn to N25bn in 8 years

The outgoing Governor of Edo State, Godwin Obaseki has celebrated his economic achievements, as he stated that the state’s economy boosted  from $10 billion to over $26 billion in his eight years in office.

According to the Diaspora Digital Media (DDM), Obaseki during his final state wide broadcast reflected on his administration’s achievements to mark the end of his eight-year tenure.

The outgoing governor highlighted the significant growth of the state’s economy with 150% increase from N10 billion to over N25 billion.

Obaseki in the broadcast, stated the massive economic growth the state has experienced in the agricultural, oil and gas, and manufacturing sectors, under his administration.

In addition, he stated that Edo State’s internally generated revenue (IGR) is expected to reach N85 billion by December 2024, representing a 370% growth since he took over in 2016.

The former governor further stated “The Edo State Oil Palm program has been a game-changer for agriculture in the state.

“Under the initiative, over 120,000 hectares of land were allocated for oil palm estate development, with about 40,000 hectares already cultivated.

“The state has made significant strides in agriculture, particularly in cassava cultivation for ethanol production.”

“The state presently is proud to have the Africa’s largest oil palm development project, with about 70,000 hectares of land under cultivation.

“Additionally, two ethanol plants are being supported by the cassava feedstock program, further boosting the state’s agricultural sector.

“Edo through my tenure is indeed poised for a bright future as Nigeria’s top palm oil and cassava producer, as it is positioned for success in the agricultural sector.”

Besides, he stated “Edo made significant progress in the energy sector, attracting two modular refineries that are boosting the state’s economy.

The Edo Refinery and Petrochemical Company operates a 6,000 barrels per day refinery, while the Duport Midstream Company Limited, also known as DuPont Energy Park, operates an integrated energy facility with a 2,500 barrels per day modular refinery.

Furthermore, “the state hugely invested in hydrocarbon securing billions of dollars for manufacturing various products like glass, iron and steel, wood, ceramics, and cement among others.”

Obaseki emphasized that “Edo State’s economic growth is indeed a result of strategic groundwork to stimulate economic activities and attract investments.

Edo State has emerged as a beacon of economic prosperity, transforming into an oasis of hope across various sectors including agriculture, engineering, manufacturing, and retailing among others.

The outgoing governor stated that he is proud of the significant infrastructure improvements made across the state during his eight-year tenure.

He said the administration constructed over 850 kilo meters of state roads across all local governments in the state.

“Edo is shining bright! We’ve achieved a major milestone, generating almost 1000MW of electricity daily. But that’s not all, our ground breaking electricity law has unlocked an electricity market that’s buzzing with potential.”

Godwin expressed as his administration of eight years came to an end, he leaves a great inheritance for the state which will serve as a compass for the future.

He finally stated that he is proud to reflect on the remarkable progress made in Edo State over the past eight years, by working collaboratively with well-intentioned individuals and groups.

“It’s possible to change the circumstances of a state for the better.”

Who is Godwin Obaseki?

Godwin Obaseki is a Nigerian politician and businessman who served as the Governor of Edo State from 2016 to 2024.

He was born on July 1, 1957, in Benin City, Nigeria. Obaseki hails from the illustrious Obaseki family.

He was a member of the All Progressive Congress (APC) before decamping to the People’s Democratic Party (PDP).

Early Life and Education of Obaseki

The Edo formal governor attended St. Matthew’s Primary School and Eghosa Grammar School for his primary and secondary education. He then proceeded to the University of Ibadan, where he earned a Bachelor of Arts degree in Classics.

Later, he obtained an MBA in Finance and International Business from Columbia University and Pace University in New York.

Career

Before venturing into politics, Obaseki had a successful career in investment banking. He worked with Capital Trust Brokers Limited, International Merchant Bank, and AVC Funds Limited.

In 1995, he founded Afrinvest West Africa Limited, which became one of Nigeria’s most reputable investment banking and management firms.

Politics and Public Policy

Godwin’s entry into politics was marked by his chairmanship of the Economic and Strategy Team (EST) in Edo State.

He pioneered policy reforms, securing funding for infrastructure and improving the business environment.

As Governor, during his eight years in office, he focused on making Edo State an investment hub, with projects like Benin River Port Project, Benin Industrial Park, Modular Refinery Project, Technology Hubs, Edojobs, and Edo State Oil Palm Program (ESOPP).

He also prioritized healthcare, education, and social development initiatives, including the Edo Basic Education Transformation (Edo BEST) program.

Personal Life

Obaseki is married to Betsy Bene Obaseki, a financial expert with a background in accounting. He’s an avid golfer and enjoys promoting sports development in Edo State.

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