Edo state Governor, Monday Okpebholo, has secured the first Foreign Direct Investment of $250m for the state ten months after he was sworn-in as Governor.
Edo State was listed as among 30 states that spent a combined N11.75 billion on international trips and trainings in the first quarter of 2025 but attracted no foreign direct investment.
A 2024 report also showed that Edo was among 14 states that spent N21.04bn on foreign trips between 2021 and 2023 and failed to attract any form of foreign investments.
But Governor Okpebholo secured the $250m FDI during the 2025 Edo State Global Investment Summit, which held in Glasgow, United Kingdom.
He signed an agreement with the European African Chamber of Commerce and Industries (EuroAfrica CCI), a coalition of chambers of commerce spanning 98 countries across Europe and Africa.
A statement by his Chief Press Secretary, Fred Itua, said the agreement established a framework for strategic investment in Edo State, with EuroAfrica CCI committing to inject $250 million over a period of three to five years.
The statement said that the investments would be channeled into key sectors including agriculture and agro-processing, mining and solid minerals, technical education and skills training, renewable energy, and green infrastructure.
It said Governor Okpebholo reaffirmed his administration’s commitment to creating an enabling business environment through streamlined registration processes, transparent land administration, and where applicable, tax incentives.
“He emphasised that the government will uphold transparency, accountability, and strong institutional support to ensure that these investments translate into jobs, opportunities, and sustainable development for Edo people.”
Represented by its Director General, Ambassador Kingsley Obasohan, the EuroAfrica CCI, pledged to work in line with Edo State’s and Nigeria’s local content policies to guarantee that investments directly empowered Edo citizens by building capacity, creating employment, and expanding industrial value chains.
Itua said the partnership reaffirmed Okpebholo administration’s resolved to position Edo State as a premier destination for investment in Nigeria as well as ensuring that inclusive economic growth and human capital development remained at the heart of governance.
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