20th March, 2024
By Jethro Ibileke
The Oredo Local Government Council in Edo State has launched a tripartite investment initiative to boost its operational sustainability.
The initiative is named Oredo Business Support and Investment Facilitation Office.
The Executive Chairman of the Council, Dr. Tom Obaseki, performed the launching ceremony of the initiative at the Council’s Secretariat in Benin.
He noted that the novel plan will make it easier for investors to conduct their day-to-day business, and also improve transparency and predictability of the investment environment.
The initiative is anchored on three components including the Oredo-Socio Environmental Impact Initiative which is expected to focus on environmental impact, climate justice, livelihood enhancement, health care promotion, and education support/scholarship.
The second component is the Oredo Investment and Development Company, an initiative geared towards business development, private-public partnership, and income generation.
The third component is the Oredo Business Support & Investment Facilitation Desk where the focus is on business consulting, regulatory assistance, access to business information, network opportunity, training and development, financial support guidance, and investor support/Facilitation services.
Dr. Obaseki who said there was a need to create wealth among the people through the initiative adding that given its capacity, added that it will expand its existing investments, thus aiding sustainability in Oredo and its environs.
According to him, “Aside from the internally generated revenue of the LGA, this is one of the ways we intend to attract the huge capital required to meet the infrastructural need of a cosmopolitan LGA like Oredo.”
The Council Boss also stated that the goal of the initiative was to make Oredo LGA the most preferred place to do business, hinting that the initiative will bring about industrial development and ease of doing business in the Oredo Local Government Area.
On his part, Kelvin Uwaibi, the Managing Director, of the State Investment Promotion Office (ESIPO), commended the investment developmental strides of the Chairman, stressing that the initiative is a new dawn and a huge departure from the way of doing things at the council levels in the State.
He said Oredo remains the first Local Government Council to create an investment desk office.
Uwaibi also noted that the initiative will bring about a mutually-beneficial collaboration between the State Government and the Council, ease data collection from the grassroots, increase social development and revenue generation and attract foreign interventions.
The Business Support and Investment Facilitators to the Council Chairman, Peter Odia and Andrew Igbineweka, pledged their commitments.