The European African Chamber of Commerce and Industries (EACCI) has unveiled plans to channel $250 million into Edo State via the Edo State Diaspora Agency to stimulate economic growth and development.
EACCI’s Director-General, Amb. Kingsley Obasohan, made the announcement on Wednesday during a virtual dialogue with Edo indigenes in the Diaspora, hosted in Glasgow, Scotland. The session, convened by Governor Monday Okpebholo, was aimed at strengthening partnerships with the Diaspora community to drive investment and development initiatives across the state.
Governor Okpebholo reiterated his administration’s dedication to innovation, transparency, and inclusive governance, stressing that collaboration with the Diaspora remained key to sustainable progress.
Highlighting Edo’s untapped potential, Obasohan called for unity in advancing the state’s economic prospects. “Edo is richly blessed with resources, favorable weather, and good topography. But government cannot do it alone. We must join hands to take Edo to the next level,” he said.
He noted that EACCI would prioritize investments in sectors such as mineral resources, agriculture, food processing, water, recycling, and energy, describing them as critical to improving livelihoods.
Obasohan further disclosed that the Chamber had already committed over $149 million to a gamma radiation program in several African countries, creating jobs and boosting economic value. He, however, expressed concern about Africa’s dependence on exporting raw materials, which he said fuels unemployment.
“If we domesticate production processes and build sustainable value chains, more people will be productively engaged,” he explained.
He emphasized that EACCI’s vision aligns with President Bola Tinubu’s Renewed Hope Agenda on job creation and economic diversification. Despite Nigeria’s vast mineral wealth, Obasohan lamented its continued reliance on crude oil, noting that EACCI hopes to play a role in transforming this reality.
The EACCI, which operates in 54 countries across Europe and Africa and is registered in 98 nations, is a global network of chambers of commerce committed to fostering economic partnerships and industrial growth.