The Governor of Edo State, Mr. Godwin Obaseki, has said that the Edo Industrial Development Policy has put the state on an economic growth path that is absorbing local manpower.
He explained that the state has been working on the comprehensive industrialisation policy with the United Nations Industrial Development Organisation (UNIDO), which he said would be unveiled soon.
Obaseki who is pushing hard on the various stages of projects designed to transform the state into an industrial hub, noted that “the steps that have been taken by our administration are in line with the state’s well-articulated Industrial Development Policy that will support increasing growth rates, generation of sufficient employment opportunities and sustainable economic growth and development.”
Experts contend that experience from successful national and local economies indicates that a “coherent Industrialisation Policy is a prerequisite for the advancement of industrial development in any territory.”
Specifically, the Benin Industrial Park is conceived to serve as a base for manufacturing and processing companies that will add a great deal of value to products that are sourced from the state and her neighbours, for onward exportation through the Benin River Port in Gelegele.
The Modular Refinery in Benin has received a N700 million as initial investment and sources familiar with the progress of the Edo-China investment collaboration, said the projects hold a lot of promise for the state.
According to Obaseki, “the company will be involved in the production of petroleum and petrochemical products and other related businesses.
“The venture will enhance the local refining capacity, thereby increasing the volume of naphtha, kerosene, diesel and residual fuel oil products available in Edo State.”
He added that the venture “will create legitimate employment opportunities thereby reducing poverty and providing job opportunities for teeming youth in the communities and facilitate the establishment of a fabrication yard as proposed by the promoters, thereby creating basis for expertise, professionalism and further training in oil and gas industry.”
The governor assured that the set of strategies adopted in the industrialisation plan will alter the structure and distribution of industrial activity to promote economic growth and development.
The Edo Fertiliser and Chemical plant commissioned by the governor last year has provided employment opportunities for over 500 people and has created allied businesses in Auchi where it is located, aside providing access to fertiliser.
The governor added that the technical manpower required to drive these industries are being groomed at the Benin Science and Technical College, which is being revamped by the state government, to ensure that skilled manpower will be sourced locally.