Victor Ezeja
Power firm, Ossiomo, has increased generation capacity to 95 Mega Watts (MW) at Benin Industrial and Enterprise Park, leading to provision of 24-hour electricity supply which is a great potential to drive investment in the park.
Formerly operating at 55MW since 2020, the Ossiomo Power recently built a 40MW Independent Power Plant (IPP) at the mixed-purpose park.
The power company announced that power plant became operational on December 29 and had already connected and powering Ologbo and Obayantor communities in Ikpoba Okha Local Government Area of Edo State.
Join our WhatsApp ChannelManaging Director, Edo State Investment Promotion Office (ESIPO), Kelvin Uwaibi, in a chat with journalists, said the state government has earmarked 100 hectares for the first phase of the mixed-purpose Benin Industrial and Enterprise Park, which measures about 997-hectares.
According to him, “We are being inundated by enquiries from investors and are ready for those who want to set up shops as quick as possible.
“We have a mix of investment incentives, even as we treat all enquiries on case-by-case basis. A lot of people have approached us to set up factories and processing plants at the park and have shown commitment to see the investment through. These serious investors are getting the needed attention.”
He noted, “We are very much open to investments in manufacturing as the Governor Godwin Obaseki-led administration has made it clear that the state is ripe to be a manufacturing hub. So, we invite more persons to invest in Edo.
“Already, enquiries we have received are for businesses interested in agro-processing, production of high-grade furniture, metal works and light manufacturing, among others. So, as a mix-purpose facility, we are open for business.”
A financial analyst and lecturer, Ikpomwonsa Nosakhare, said the new plant is sufficient incentive for investors to locate in the park, noting that power challenges constitute one of the major risks to investment in the country.
READ ALSO: Power Sector Minister Moves To Drive Reforms To Increase Electricity Supply
According to him, “We expect to see more companies trooping into the state as there is now steady source of electricity, which is not constrained by the challenges of the national grid. I am sure this is also enough to unlock more private capital to boost the state’s real sector.”
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
