The Edo State Investment Promotion Office has said the most active sectors that have attracted local and foreign investments into the state in the last two years are oil palm, poultry processing and retail sectors.
This was disclosed by the Managing Director, Edo State Investment Promotion Office (ESIPO)-Ease of Doing Business Secretariat, Mr. Kelvin Uwaibi, in a recent chat with journalists in Benin City.
According to him, “Between 2021 and 2022, there are investments in the agriculture, food processing and energy sectors. Some of the companies that have made substantial investments include Persianas Group, which is building the Benin City Mall, on Sapele Road.
“There is also Amo Farm Poultry Processing Plant located at Obayantor, Ikpoba-Okha Local Government Area (LGA) of Edo State. Fayus Oil Palm Company and Prime Agro Seed and other companies from Asia.
“In the energy space, Ossiomo Power Plant in Ologbo has expanded and then we have two new refineries – one at Ologbo, Ikpoba Okha GRA and the other at Egbokor, in Orhionmwon LGA.”
Uwaibi noted that the investments have ensured that the state remains a good destination for those looking to expand their businesses in Nigeria, citing the availability of steady power supply from Ossiomo Power as a good incentive.
He added that the Benin Port project, which is coming on stream, is expected to even attract more investment in the agriculture, maritime and ancillary sectors.