…state has potential to become first world economy – Ighodalo
The 2023 Alaghodaro Summit which began on Wednesday in the ancient city of Benin, the Edo State capital, continued on Friday, 10 November 2023, with the Investment Summit held at the Festival Hall, Government House, Benin City.
The Investment Summit witnessed the presence of notable personalities in the public and private sectors from within and outside the state, including the Delta State governor, Sheriff Oborevwori, Chairman and CEO of Dangote Group, Alhaji Aliko Dangote, former governors of Edo State, Chief John Odigie-Oyegun, Chief Lucky Igbinedion, Senator Adams Oshiomhole, and a host of others.
Guests present commended the deliberate efforts by the Governor Godwin Obaseki-led administration in Edo State to attract investments into the state and grow the state’s economy over the past years.
Speaking in his welcome address at the Investment Summit, Chairman Board of Trustees, Alaghodaro Economic Summit Ltd/Gte, Dr. Asue Ighodalo, noted that the state’s economy has grown by over 140 percent from $10.6 billion to $25.8 billion over the period, as against the 4 percent growth recorded at the national level over the same period.
“Over the past eight years, Edo State has grown 140 percent from an economy of $10.6 billion to $25.8 billion today, while Nigeria’s economy grew at 4 percent,” said Ighodalo, who is also the Chairman of Sterling Bank Plc.
“Edo State can become first world economy regardless of the challenges of Nigeria. The new investments attracted from new investors are put at $4 billion sourced from Nigeria and from joint partnerships as the state has the capacity and will.
“Edo State must set out at dawn to make progress and pull other parts of Nigeria and other regions up. We must continue to show in Edo that there is great hope for Nigeria through Edo State. The state can drag Nigeria out of its untapped potential, re-directing the nation to a point of development.
“The Edo story tells us we are not a state that lacks capacity to do well. The Alaghodaro phrase means progress, moving forward, and looking ahead as the word should be a challenge to us in Edo and the purpose of the summit is to set Edo on the path of growth and development,” he said.
The annual Alaghodaro Summit which began in 2017 has provided a rallying point for stakeholders in Edo’s shared vision of prosperity and greatness to deliberate and reach key decisions that drive programmes, initiatives and policy of government.
This year’s summit is being held under the theme “The Edo Story: Creating Shared Opportunities into the Future”. It is the seventh edition and the last to be held during the Governor Obaseki administration.
