Edo State signed a $250 million investment agreement with EuroAfrica CCI to develop strategic sectors including agriculture, agro-industry, mining, technical training, renewable energy, and green infrastructure. Governor Monday Okpebholo signed the deal last week in Glasgow during the “Edo State Global Investment Summit 2025.”
EuroAfrica CCI is a coalition of chambers of commerce representing 98 countries in Europe and Africa. The partnership aims to create jobs, raise state revenues, and position Edo as an inclusive economic hub in Nigeria.
The five-year plan includes regular monitoring to evaluate progress. The Edo government pledged to provide a business-friendly environment through simplified registration processes, transparent land management, and tailored tax incentives.
Dr. Kingsley Obasohan, Director-General of EuroAfrica CCI, said the investments will respect local content policies. “This commitment will ensure job creation, skills development, and stronger industrial value chains,” he noted.
The new deal builds on a trend of growing private investment in Edo State. In 2022, the state launched a poultry processing plant with capacity for 10,000 birds per day. In February 2023, U.S.-based Fayus Inc. began developing a 3,000-hectare oil palm plantation, representing a $250 million investment.
Last year, Edo State also announced plans to attract investment for palm plantations covering 47,000 hectares. This followed a first phase that mobilized $500 million for planting more than 70,000 hectares.
Despite this momentum, Edo continues to depend on private investment to address infrastructure gaps and vocational training needs. Authorities expect the EuroAfrica CCI partnership to directly impact state revenues, expand public services, and promote sustainable development.
Officials believe that if targets are met, Edo State could attract further international investors while deepening economic inclusion for its population.
This article was initially published in French by Olivier de Souza
Cc: Adapted in English by Ange Jason Quenum
