By: Punch

The Edo State Government has signed a $250 million agreement with the European African Chamber of Commerce and Industries (EuroAfrica CCI), a coalition of chambers spanning 98 countries. The deal was finalized during the 2025 Edo State Global Investment Summit in Glasgow, Scotland.

The agreement establishes a framework for strategic investment in key sectors of Edo State's economy over three to five years. The targeted areas for investment include agriculture and agro-processing, mining and solid minerals, technical education and skills training, renewable energy, and green infrastructure.

According to a statement from the governor’s office, the partnership underscores the state government's commitment to creating an enabling business environment. This will be achieved through streamlined registration processes, transparent land administration, and, where applicable, tax incentives. The government also assured that it would uphold transparency, accountability, and strong institutional support to ensure the investments translate into jobs and sustainable development for the people of Edo State.

The agreement will run for an initial period of five years, with regular joint reviews to monitor progress and ensure mutual accountability. EuroAfrica CCI, represented by its Director-General, Dr. Kingsley Obasohan, pledged to align with Edo’s local content policies. This approach is designed to ensure that investments directly empower Edo citizens through capacity building, job creation, and the expansion of industrial value chains.