Alaghodaro 2023: Edo’s economy has grown by over 140 percent from $10.6bn to $25.8bn in last seven years, says Ighodalo

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… says Edo has potential to become first world economy irrespective of nation’s socio-economic challenges

The Chairman of the Board of Trustees, Alaghodaro Economic Summit Ltd/Gte, Dr. Asue Ighodalo, has commended deliberate efforts by the Governor Godwin Obaseki-led administration to grow the State’s economy over the past years, noting the State’s economy has grown by over 140 percent from N10.6bn to N25.8bn

According to him, this is against the four percent growth recorded at the national level over the same period.

Ighodalo, who is also the Chairman of Sterling Bank Plc, disclosed this in his welcome address at the 2023 Alaghodaro Investment Summit taking place in Benin City, the Edo State capital.

He said, “Over the past eight years, Edo State has grown 140 percent from an economy of N10.6 billion to N25. 8bn today, while Nigeria’s economy grew at 4 percent.

“Edo State can become first world economy regardless of the challenges of Nigeria. The new investments attracted from new investors is 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.”

Ighodalo noted “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.”