Private Sector Collaboration, Critical For 2024 Business Reforms–Uwaibi

By Our Reporter

In 2024, Edo State is confident of leading the way in Nigeria in creating a business-friendly climate which promotes economic growth and business sustainability for investors.

Mr. Kelvin Uwaibi, Secretary of the EoDB Council, and MD, Edo State Investment Promotion Office (ESIPO), made the disclosure to newsmen in Benin, the Edo State capital, at the end of a one-day consultative forum between corporate business owners and stakeholders.

The Forum was organized by ESIPO in collaboration with the Sustainable and Inclusive Economic Development for Decent Employment in Nigeria GIZ- SEDIN Programme.

Edo is one of the sub-nationals that has done creditably well in raising it’s business reforms ante, but ESIPO is certainly not resting on its oars with its recent house keeping aimed at promoting the ease of doing business given the vision of the state government to ensure that the state becomes the best place in Nigeria to live work and invest by 2030.

As a result, the state government engaged the private sector in a robust and productive dialogue to set the benchmarks for accelerated economic growth within the shortest possible period, involving the design of a series of plans and incentives
to stimulate the process.

It is instructive to state that ESIPO, the business arm of the state government, led the charge of making the private sector the major driver of the economic prosperity policy of the Governor Godwin Obaseki administration.

Uwaibi asserted that the Edo State government is passionate about removing the obstacles and impediments that stifle private business growth as well as nurturing a more investor-friendly environment.

He pointed out that the government is now more driven to provide a more inclusive business climate to help private businesses thrives in the state.

He said the robust reforms will impact key areas like the implementation of the state’s export strategy and policy, cluster schemes for small holder farmers, review of the state electricity law, energy accessibility viz-a-viz renewable energy sources, revitalization of the Edo MSME Trust Fund.

Other critical reforms include enhancing the capacity of judges for effective dispute resolution, equipping the state Bureau of Statistics for improved data gathering and utilization, streamlining the state bureaucracy to promote access, creating an effective two-way communication with instant feedback mechanism and, finally, the harmonization of the tax system

Participants at the Forum amplified the importance of collaboration among the critical stakeholders, stressing the need for constant interface between the government and the private sector firms, driven by the Ease of Doing Business Council.