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Investor commits $250m to Benin Industrial Park- Gov Obaseki

Investor commits $250m to Benin Industrial Park- Gov Obaseki
Written by Maritime First

…As CBN injects $210m in forex market***

Gov. Godwin Obaseki of Edo says an investor, Anchor Tenant, has committed about 250 million dollars to the development of Benin Enterprise and Industrial Park project.

Obaseki made this known when a World Bank Team led by Gloria Joseph-Raji, paid him courtesy visit on Tuesday in Benin.

He said that his administration had continued to make considerable progress on the Benin Enterprise and Industrial Park project.

Obaseki said that the plan was to commence construction at the site before the end of the year.

“We have made considerable progress on our industrial park as we touched on an anchor tenant who has committed close to 250 million dollars for their operation.

“This has been confirmed. As I speak, we have two others from China and the United Arab Emirates (UAE), and we are working closely to get a commitment from them,” he said.

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Obaseki said his administration was focused on building conducive business environment to scale up investment and create more job opportunities in the state.

The governor said that the state government was concentrating on key elements to improve ease-of-doing-business in the state by improving land reforms, law and order, streamlining the state revenue service and human capital development.

He said: “We have received support from the Universal Basic Education Fund to build a digital laboratory at the College of Education in Abudu, and we will work with you to build human capacity.

“The law for restructuring the College of Education is before the parliament and will be considered soon.

“Procurement for laboratory equipment for the Government Science and Technical College (GSTC) has been completed and will be ready for use by the last quarter of the year.

“We have identified three other technical colleges in Isi, Irrua and Igarra for similar projects.”

Joseph-Raji said the visit was planned as a follow-up to the earlier one by the Team in January 2019.

Leader of the World Bank delegation said: “Our overall objective is to support your government to boost jobs creation for youths in the state.

“We settled on supporting your administration to build a conducive environment for the private sector to thrive.

“The private sector creates the jobs, but government ensures an enabling environment for businesses to thrive.”

Meanwhile, the interbank segment of the Nigerian foreign exchange market received a fresh boost of 210 million dollars from the Central Bank of Nigeria (CBN) on Tuesday.

The CBN Director of Corporate Communications Department, Mr. Isaac Okorafor, said this in a statement in Abuja.

He said the figures released by CBN indicated that authorized dealers in the wholesale segment of the market were again offered the sum of 100 million dollars.

He said that the Small and Medium Enterprises (SMEs) window received the sum of 55 million dollars, while 55 million dollars were allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

The director said that the bank was committed to sustaining the level of stability in foreign exchange market.

The CBN, July 12, injected 298.7 million dollars and CNY39.6 million into the Retail Secondary Market Intervention Sales (SMIS) segment.

The Naira was N360 to the dollar at the Bureau De Change (BDC) segment on Tuesday.

 

 

 

 

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Maritime First