…Summit has provided platform to chart path for Edo’s growth, devt – Ighodalo
After seven years of meticulously managing the socio-economic affairs of Edo State leading to a quantum leap in investment inflows into the state, the state governor, Mr Godwin Obaseki, will use this year’s Alaghodaro Investment Summit to showcase the achievements of the previous six investment summits while fine-tuning plans for the future.
The annual summit which began in 2017 has provided a platform to chart the path for Edo’s growth and development in the past seven years, Chairman of Alaghodaro Economic Summit Limited/Gte, Asue Ighodalo, said on Wednesday.
Ighodalo told newsmen at a press conference in Benin City to kick-start this year’s Alaghodaro Summit that the prevailing economic circumstances at that time necessitated the annual investment summit which has turned out to be a step in the right direction.
The five-day summit, being held under the theme “The Edo Story: Creating Shared Opportunities into the Future”, emphasizes the need for appraising the journey thus far as well as making adequate preparations for the future.
“There have been some transformational changes in the state, and many of the ideas that produced those results have come from the past summits,” Ighodalo said.
“Edo State is the heartbeat of Nigeria as it has capacity beyond many other states. What this summit will do is to basically showcase the achievements of past summits, especially reforms in terms of physical infrastructures and other projects around the state,” he said.
Ighodalo said the Alaghodaro Summit came after 10 months of the Governor Obaseki-led administration in 2017 and it was created as a platform where top government functionaries, officials, heads of MDAs, Permanent Secretaries, among others could interact with the private sector, business people, NGOs, and civil society groups.
“Historically, Edo is the hub of massive tourism. Our Oba has kindly consented to some of the tourists coming for a tour of the palace, and places around the palace where we have our artefacts. In addition, they will have lunch in a typical eatery in the state. This is to allow them to experience real life in Edo,” he said.
Other dignitaries at the press conference included Chairperson Hospitality, Logistics, Protocol and Security Sub-committee for 2023 Alaghodaro, Isoken Omo; Director, Board of Trustees, Alaghodaro Economic Summit Ltd/Gte, Oluwole Iyamu (SAN), and Eire Ifueko Alufohai, Executive Secretary, Alaghodaro Economic Summit Limited/Gte.
The Nigerian Observer reports that Edo State under Governor Obaseki has attracted huge investments into the state, including in the oil palm sector. For instance, Canada-based Sunora Foods has recently proposed $100 million projects raising oil-palm investment inflows into the state to $660 million, which at the current exchange of N800/$ amounts to N528 billion.
Furthermore, under Governor Obaseki, Edo State’s internally generated revenue has risen by 105.99 percent, from N23.04 billion in 2016 to N47.46 billion in 2022.
The state now boasts of two modular refineries, a feat not shared by many states in Nigeria’s oil-rich Niger Delta. These are the Edo Refinery and Duport Midstream Refinery, both of which are currently refining petrochemical products and are well positioned to contribute to Nigeria’s 1.5 million barrels per day refining capacity by 2025.
The two refineries in Edo State have placed a combined order of 300,000 barrels of crude from the Oza oil field and currently produce diesel, naphtha and Lour Pour Fuel Oil (LPFO). The Edo Refinery and Petrochemical Company (ERPC) runs the 6000bpd plant in Ologbo, Ikpoba Okha Local Government Area, while Duport Midstream Company Limited (DMCL) operates the Duport Refinery, which is part of an integrated energy park, located in Egbokor, Orhionmwon Local Government Area of the state.
Reeling out other events lined up for the 2023 summit, beginning with the Edo Women Conference held on Wednesday, Ighodalo informed that on Thursday, November 9 (today), there would be a tour to showcase some of Governor Obaseki’s achievements in the state, particularly physical and other infrastructure around the state.
“On Friday, the 10th of November will be the main day of the Alaghodaro Summit as the event will start by 9 am. The event will end with a state dinner where all our past governors since the advent of democratic governance in Nigeria will be recognised for their contributions to the development of the state and will be given awards by Mr. Governor,” he said.
On Saturday, he said, there would be the Golf Tournament, as well as an Edo Food and Fun Fair, bringing producers from the three senatorial districts of the state to sell produce at prices lower than the market.
“These products will be cheaper and the market will be at Garrick Memorial, along Ekenwan Road. We are getting our people to participate by creating a carnival-like atmosphere.
“Also on Saturday, we will have a massive concert where our citizens come back home to perform and showcase their talents to encourage other youths to showcase the creative aspect of Edo people,” he said.
Ighodalo said the governor would also commission the world-class studio at the Sir Victor Uwaifo Creative Hub, while on Sunday, there would be a thanksgiving praise evening to thank God for what he has done in the state.
“We are very proud of the work we have done in the past seven years and we are hopeful that whoever succeeds will continue the Alaghodaro in this form or at least an improved fold so that the people of the state will continue getting the benefit of diversified thinking and different views on how things can be improved in our state,” he said.
