The European African Chamber of Commerce and Industries (EACCI) has unveiled plans to invest $250 million in Edo State via the Edo State Diaspora Agency, as part of efforts to drive economic growth and sustainable development.
EACCI Director-General, Amb. Kingsley Obasohan, disclosed this during a virtual dialogue with Edo indigenes in the Diaspora, held in Glasgow, Scotland, on Wednesday. The session, convened by Governor Monday Okpebholo, centered on fostering strategic partnerships with the Edo Diaspora to unlock new investment opportunities and advance development across the state.
Governor Okpebholo reaffirmed his administration’s commitment to innovation, transparency, and people-centered governance, emphasizing that sustainable progress requires strong collaboration.
Obasohan highlighted the importance of unity, stressing that government cannot singlehandedly harness Edo’s full potential:
“We have to join hands together to see how we can take Edo to the next level. The state is blessed with abundant mineral resources, favourable weather, and good topography. There is nothing God has not blessed Edo with, but government alone cannot do it all.”
According to him, EACCI’s investment will target key sectors including mineral resources, agriculture, food processing, water, recycling, and energy, which are critical to job creation and long-term development.
Obasohan also revealed that EACCI has already invested more than $149 million in a gamma radiation programme across several African countries, aimed at creating jobs and enhancing economic value.
He expressed concern over the lack of sustainable value chains in Africa, noting that the export of raw materials continues to fuel unemployment.
“If we can domesticate production processes and build value chains locally, it will enable more people to be meaningfully engaged,” he said.
Obasohan further stated that EACCI’s vision aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritizes job creation and economic diversification.
“Africa’s biggest challenge is poverty, not lack of resources. What we lack are the tools and systems to convert value chains into viable economic sectors,” he explained.
Despite Nigeria’s possession of over 44 different mineral assets, he lamented that the country remains heavily dependent on crude oil. EACCI, he affirmed, is committed to changing this narrative.
The EACCI is a global consortium of chambers of commerce, registered in 98 countries and operational in 54 countries across Europe and Africa.
