The South-South summit has come and gone. However the positive memories of the most well organized regional summits in Nigeria will continue to linger for many years to come. Recall that the six states of the South- South region comprising of Akwa-Ibom, Bayelsa, Cross Rivers, Delta, Edo and Rivers came together in Tinapa to organize a regional economic summit aimed at diversifying the economy of the region from an oil dependent zone.

The summit was expected to lay the ground-work and framework for the growth of the region  to a multi-economic, multi-product and well industrialized area, reduce poverty, empower the youths, build world class infrastructures such as rails, sea ports and state of the art communication facilities that will galvanize economic growth.

The summit was well attended by both local and foreign investors. Well known companies exhibited their products with a view to consolidating on their existing profile and establish new business contacts. The six states of the region also showcased their factor endowments in all areas that will attract prospective investors.
In a program of this nature, there is every tendency for the participating companies and states to do everything possible within their means to attract visitors and prospective investors to their stands.  The six states where not lacking in this regard. They competed with all the companies to showcase whatever they had to make the desired impact.

Edo State participation at the event was indeed splendid and outstanding. This is because, while other states brought in computer gadgets and aesthetic make up to “showcase” what they have done or about to do in the future, Edo State delegation ably led by the Governor, Comrade Adams Oshiomhole displayed the genuine factor endowments of the state to the participants, assisted by some commissioners from the ministries of Agriculture, Budget and Economic Planning, Arts and Culture, Finance, Works, Information, Environment, Commerce and Industry, the state exhibited its products via the popular and well known Benin carvings, artifacts and other monuments that the state is known for over the years.

In addition to this, the ministry of agriculture exhibited the agricultural potentials that are peculiar to the state. These included giant snails, cassava, cassava flour, packaged yam flour, huge plantain products, cassava, cassava seedlings, cashew seedlings, rubber seedlings, and a host of other agricultural products that could be used for industrial production, export and local consumption.
The Ministry of Budget and Economic Planning circulated a colorful, rich and well written compendium containing information on the investment climate of Edo State and this became one of the most popular documents of the summit.

In addition to this, the state partnered with some investing companies to also demonstrate the readiness of the state government to transform the economic base of the state under the Public-Private Partnership (PPP) framework. The Gele-Gele industrial park initiative attracted a deluge of foreign investors to the State stand. When fully operational, the Gele Gele industrial park will contain a cluster of industries such as refineries, solid minerals processing firms, world class hospitals and an export/import terminal to encourage economies of scale.
The Edo State Secretariat at the summit was overwhelmed with request for additional information on the state by reputable companies and other interested members of the Organised Private Sector (OPS). Visitors to the state stand were pleasantly happy to note that the state dared to differ from others by showcasing where we are and where we want to be on a genuine note.

Within the framework of the Oshiomhole economic agenda, the idea is to create a conducive atmosphere for industrialization and economic growth, this is being achieved by guaranteeing security of investment, provide world class infrastructure, ensure that agriculture production centers are  easily accessible, make government business transparent and ensure fiscal governance.

The state government is conscious of the importance of the state to the economic growth of the South-South region being the gateway to the South-Western part of the country that contributes the highest non-oil related GDP of the country. There is no better way to make access to the region more pleasant and encouraging to investors other than the proposed additional lanes with drainage on the Ugbowo-Uselu Lagos Expressway and the Airport Road in Benin City. Aside its direct benefits to the people of the state, this is also in line with the regional integration strategy of the Governors.

There is no doubt, in every venture or program, there are always useful lessons to be learnt and this is not an exception. The state government will have to expand its level of participation in the next summit to include additional critical sectors of the economy, ensure the participation of more ministries, involve more companies operating in the state and get more space at the pavilion for direct sales of agricultural products, the Benin carvings and other products of the state.

However, for us in Edo State, the South-South Economic Summit has encouraged us more than ever before to believe in ourselves and our capacity to turn the table of economic fortune in our favour. The summit has also shown clearly that with a clear-headed political leadership in place, Edo State is poised to regain whatever it has lost in the past and in a hurry to close the infrastructure gap.

Thank you.


TAIWO AKERELE,
Senior Special Assistant to the Edo State Governor (Policy and Economic Strategy)