European-African chamber to invest $250m in Edo through diaspora partnership
By Fortune Abang
The European African Chamber of Commerce and Industries (EACCI) has announced plans to invest 250 million dollars through the Edo State Diaspora Agency to support economic growth and development there.
The Director-General of EACCI, Amb. Kingsley Obasohan, disclosed this in his address during a virtual dialogue with Edo indigenes in the Diaspora, in Glasgow, Scotland on Wednesday.
The dialogue, convened by Gov. Monday Okpebholo, focused on building strategic partnerships with the Edo Diaspora to foster meaningful development and unlock new investment opportunities across the state.
The governor also outlined his administration’s commitment to innovation, transparency, and people-centered governance for sustainable development.
Speaking during the session, Obasohan emphasised the importance of unity and collaboration in achieving economic progress for Edo.
“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 can not do it all.”
He stated that the EACCI was ready to work with the Edo Diaspora Agency to bring in large-scale investments, particularly in the areas of mineral assets, agriculture, food processing, water, recycling, and energy.
“These sectors are critical to us, and we believe our investments will have a real impact on the people of Edo,” he added.
Obasohan also revealed that EACCI had already invested more than 149 million dollars in a gamma radiation programme across several African countries to support job creation and economic value enhancement.
He expressed concern over the lack of sustainable economic value chains in Africa, especially in Nigeria, attributing high unemployment rates to the continuous export of raw materials to Europe.
“If we can domesticate production processes and build value chains locally, it will enable more people to be meaningfully engaged,” he said.
Obasohan affirmed that EACCI’s vision aligned with President Bola Tinubu’s Renewed Hope Agenda, which prioritised job creation and economic diversification.
“Africa’s biggest challenge is poverty, not lack of resources.
“In fact, Africa is richly endowed with natural resources. What we lack are the tools and systems to convert value chains into viable economic sectors,” he explained.
He lamented that Nigeria, despite possessing over 44 different mineral assets, still functions largely as a mono-economy dependent on crude oil — a reality EACCI aims to help change.
The EACCI is a global assembly of chambers of commerce, registered in 98 countries and operational in 54 countries across Europe and Africa. (NAN)
Edited by Abiemwense Moru
Published By
- Agriculture and Environment Desk Controller/Website Content Manager.
Has also recently published
SportsSeptember 25, 2025SWAN inaugurates committee for 60th jubilee celebration
Science & TechSeptember 24, 2025OAU VC urges investment in infrastructure, innovation
Economy/BusinessSeptember 24, 2025ITF conducts examinations to SUPA trainees to meet international standard
ForeignSeptember 24, 2025European-African chamber to invest $250m in Edo through diaspora partnership
