Edo woos investors with faster approvals, tax reforms

The Edo state government has unveiled fresh measures to make the State more attractive to investors, with plans to fast-track business approvals, harmonise taxes, expand digital services and improve infrastructure.

Commissioner for Business, Trade and Investment, Omoh Anabor, who disclosed this in Benin, stated that the reforms were designed to remove bureaucratic hurdles that discourage investment and create a more predictable business environment.

Anabor said the government was particularly working to reduce the time required to secure land-related approvals, with a target of processing such applications within two hours.

According to him, speed and certainty in government processes are critical to attracting private capital and encouraging businesses to establish operations in the state.

“Investors don’t want to see bottlenecks,” the commissioner said, adding that the government was also reviewing the State’s tax system to make it more coordinated and business-friendly.

He said Edo was strategically positioned to become a major investment destination, citing its mineral resources, agricultural potential, cultural assets, location and reforms in the power sector.

Anabor disclosed that mineral deposits could be found across the 18 local government areas of the State, stressing that the resources presented opportunities for investors in mining and related industries.

He also identified agro-processing as another major area of opportunity, particularly in the production and processing of cashew, rice, cassava and palm products.

The Commissioner said the state government was engaging both local and foreign investors as part of efforts to unlock the potential of the various sectors and create jobs for residents.

He also disclosed that the administration was strengthening its “Made in Edo” initiative through an online platform designed to connect locally produced goods and services with consumers outside the state and in international markets.