Industrialization Crucial Component In Achieving Sustained, Inclusive Economic Expansion – Edo Commissioner

The Edo State Commissioner for Business Trade and Cooperatives, Hon. Patrick Iria Uanseru, says industrialization is a crucial component in achieving sustained and inclusive economic expansion.

Uanseru disclosed this in an address as part of the activities commemorating this year’s “Africa Industrialization Day,” in Benin City, the Edo State capital on Monday.

He added that by incorporating new equipment and processes, industries can boost productivity, increase employee competencies and create jobs.

While connecting industrialization with domestic economy, Uanseru, reiterated that “Industrialization is inextricably linked with the domestic economy and will ultimately boost growth rates in Africa nations.

“It will help build resilient economies in these countries and reduce their vulnerability to negative external influences.”

According to Uanseru, this will have a significant impact on poverty alleviation by creating more employment opportunities.

The theme for this year’s celebration of Africa Industrialization Day is, “Accelerating Africa’s Industrialization through the Empowerment of African Women in Processing for an Integrated market.”

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Speaking further, the Commissioner described the theme as “quite apt as there is need for renewed commitment towards industrialization having played so much lip service to industrialization in the past.

“The theme serves as a call for us to resume our devotion as a State to safeguarding environmentally sound practices to include and implement a strategy that involves choosing to structure an operation to provide wide range of revenue sources from an increase spectrum of sectors or markets.

“It provides an opportunity for primary stakeholders to reflect on Edo State’s industrialization by viewing how the state can change its present state of affairs. Sequel to the above, Edo State has been able to renew allegiance to reduce waste by going paperless (e-gov), encouraging sustainable transportation and renewing energy.

“Over the years, the State Government has instituted several reforms to address bureaucratic constraints in the business environment and drive the Industrialization process in Edo State.

“We have embarked on many initiatives to simplify business processes within State by taking active steps to digitalize the processes and introduce targeted reforms.

“The Edo State Geographical Information Service (GIS) has considerably reduced the amount of time required to acquire land documentation in the State for investment purposes.

“We are committed to attracting investors and making Edo State the preferred investment destination in Nigeria. Therefore, Edo State Government is taking proactive and practical steps to develop and transform its economic base and create prosperity for its citizenry.”

“The state has attracted investments projects from both Local Foreign interest Groups. Such investments include Dangote Group, BUA Group, Yonxing Steel, Time Ceramics, Rongsheng Glass, Watson Doors to name but a few. These companies are thriving very well in the State.

“The Benin Enterprise Park which is an initiative of this administration will be Nigeria’s premier mixed used Enterprise Park, combining industrial, commercial and residential zones in 997 hectares (almost 10 square km) of well situated real estate.

“The park is designed to attract world class industries that are keen to be at the logistical centre of Africa’s biggest and most vibrant economy.

“It will provide a superbly master planned site with state-of-the-art and secure infrastructure facilities, including quality control labs, warehousing and raw materials storage, freight forwarding and logistic services, reliably centrally provided uninterruptible power supply, communication, modernized water and waste treatment plants and much more.

“Therefore, the decision to develop a Port in Edo State is based primarily on economic viability of the project, and social economic benefits to the people. Located at the confluence of Benin River and Osse River which is the tail end of Edo State, a distance of only 32km to the coast line.

“The port is named after Benin City, the historical capital City of Edo State and located along Benin river and could be accessed from the Atlantic Ocean through the sight of Benin, that also extents to the Republic of Benin, all of which got their names from Benin kingdom.

“In order to ensure a viable and sustainable project, the unique Benin River Port is now proposed to be developed as a specialized and dedicated port. Hence, key into the Federal Government’s initiative of diversifying the economy away from oil, and into areas such as Agriculture and Agro-allied business.

“In all of these, the Benin Enterprise Park and Benin River Port or Benin Port Project are being executed under PPP arrangement. This is to ensure inclusiveness and sustainability of the projects.

“As the projects will be driven by the private investors and the State Government facilitating the process, there is the assurance that the 1st phases of the projects would be commissioned soonest. In fact, the 1st phase of the Benin Enterprise Park will be commissioned before the end of Mr. Godwin Obaseki’s administration next year.”

Hon. Uanseru, therefore, called on the people of Edo State to join hands with the Obaseki – led administration to enable the governor finish strongly.