Edo State's Path to Industrial Growth and Wealth Creation

The success of a group of foreign investors in Nigeria, who started in the table water business over ten years ago, is worth noting. They have grown to become the largest makers and suppliers of refillable water dispenser bottles in the country. Their recent move into dairy farming and milk production shows the benefits of good planning, smart investment, and sticking to a plan.

This story should inspire governments and policymakers across Nigeria. It shows what can happen when there is a clear vision, patience, and a strong focus on growth.

Edo State could have led such an initiative. My hero, the late General Samuel Ogbemudia, set up the Agbede and Igarra cattle ranches in Edo North many years ago. Similarly, Professor Ambrose Alli established a ranch between Ubiaja and Ilushi in Esan South East over forty years ago. These examples remind us that Edo State has both the history and resources needed to drive major economic change.

Following the RAIISE development philosophy, Rural Revitalisation, Agriculture, Industrialisation, Infrastructure, Security and Excellence, I believe the Edo State Government must use public funds wisely to attract private investment. The government should not only regulate business but also help transform the economy.

This type of government would encourage investment in industries where Edo State has clear advantages. These include agriculture and agro-processing for export, clothing manufacturing, building materials, farm tools and machinery like ploughs and tractor assembly, drip irrigation, furniture making and export, cashew processing, rubber tyre production, and other growing sectors that can create jobs, bring in foreign money, and generate wealth.

Many transformative industrial projects take a long time to develop and need long-term funds to succeed. Unfortunately, commercial banks in Nigeria mainly focus on quick returns and short-term investments. This mismatch makes it hard to fund industrial projects and limits investment in areas that are vital for long-term development.

I have always said that the government can create profitable businesses, support them in their early years, and later sell majority ownership through the capital market once they become stable and profitable. This way, the government can get back its investment, boost private sector involvement, strengthen local ownership, and reinvest in new sectors where the state has an advantage.

I see a key role for the government in this area. It can use its funds wisely to kickstart industrialisation, prove business ideas, reduce risks for investors, and show confidence in the state's economic future. When the government invests in its own state, private investors are more likely to join in.

I have always believed that government can create successful businesses, support them until they are strong, and then sell majority shares through the capital market. This strategy allows the government to recover its investment, increase private sector participation, boost local ownership, and reinvest in sectors where the state has an advantage.

This idea should extend beyond Edo State. Nigeria must shift from a politics focused on sharing monthly federal income to investing public funds in productive activities that create wealth. Federal allocations should serve as seed money for economic growth, helping states and local governments improve their productivity, create jobs, and sustainably raise their Internally Generated Revenue (IGR). This topic needs more national discussion.

The issue becomes clearer when we look at our local governments. According to the Edo State Local Government Councils Audited Financial Statements for Year 2024, published by the Office of the Auditor-General on June 30, 2025, Orhionmwon Local Government Area had an average monthly IGR of just ₦2,137,789.60 in 2024, while Etsako Central Local Government Area made only ₦1,539,394.78 monthly. Yet, Orhionmwon LGA is one of the largest local government areas in Edo State, with a population of about 295,000 to 320,000 people. Its land covers around 2,382 square kilometres, about one-third the size of the Federal Capital Territory and over two-thirds the size of Lagos State. How can such a large area develop on an IGR of about ₦2.1 million monthly? The answer is clear. If we want serious development, we must rethink how we build wealth in our local areas. States and local governments should be centers of production and investment, not just receivers of monthly allocations.

This is not a new idea. Similar strategies have worked well in other parts of the world and even in Nigeria. By forming strategic partnerships and eventually listing on the Nigerian capital market, the government can act as a catalyst, not just as an operator of businesses.

In many ways, the government should be the bridge that connects investment to safety. Once the path is proven safe and profitable, private money will flow in greater amounts and with more confidence.

Ultimately, our challenge is not about lacking resources, chances, or skilled workers. The real issue is leadership; leadership with vision, strength, skill, determination, and love for the country; leadership that looks beyond the next election and acts in the people's best interest.

The main goal is clear: jobs, jobs, and more jobs.

When there are more job opportunities, economic struggles lessen. Families feel safer. Communities become steadier. Crime and social problems decrease over time. Wealth is shared more widely instead of being held by a few.

Sadly, too much energy in politics often goes to planning for the next election, party changes, or counting votes for political allies in Abuja. We should focus on how to create lasting wealth, boost our economy’s productivity, and improve living standards for everyday Edo people.

If a government succeeds in creating many job opportunities and widespread wealth, the people will recognize and support such leadership. True development builds its own political support.

Ultimately, our challenge is not a lack of resources, opportunities, or skilled workers. The key issue is leadership; leadership with vision, strength, skill, determination, and love for the country; leadership that looks beyond the next election and acts in the people's best interest.

I urge policymakers and leaders to adopt long-term economic planning, innovative governance methods, and smart investment plans that can turn Edo State into a leading center of agriculture, industry, and export growth in Nigeria.

The future we want will not come from slogans or short-term politics, but from clear vision, smart planning, steady execution, and the courage to invest today for a better tomorrow.