The Edo State Investment Forum, recently held in Dubai and organized by the Foreign Investment Network (FIN), marked a significant stride towards attracting substantial investments to Edo State, Nigeria. The forum served as a platform to showcase the state’s investment potential and garner support from international investors, notably in the agricultural sector. The presence and endorsement of His Royal Majesty, Omo N’Oba N’Edo Uku Akpolokpolo Ewuare II, the Oba of Benin, significantly elevated the forum’s stature and reinforced the commitment to sustainable economic development and food security within the region. The Oba’s longstanding advocacy for inclusive development, youth empowerment, and investment attraction was further recognized with the FIN Lifetime Achievement Award, highlighting his pivotal role in driving economic diplomacy and national unity.
The forum, facilitated by Mr. Ahabue Borha, a member of the Oba’s international investment delegation and an expert in foreign direct investment, successfully secured pledges from prominent global investors eager to partner with Edo State and contribute to its economic growth. Governor Godwin Obaseki’s administration, represented by the Managing Director of the Edo State Investment Promotion Office, Amen Odigie, has prioritized agricultural transformation and fostered a conducive investment climate, exemplified by initiatives such as the ambitious poultry megaproject. Governor Obaseki’s commitment to revitalizing the state’s investment landscape and driving impactful governance was acknowledged with the Distinguished FIN Emerging Governor of the Year Award, a testament to his administration’s early successes.
Central to the forum’s agenda was the “Edo Feeds the Nation” project, a groundbreaking poultry initiative spearheaded by AnimStok and advised by Peptomist, with the objective of establishing the world’s largest digitally integrated, low-cost poultry ecosystem. This ambitious five-year master plan, anchored by international investors Jayesh Chandra Gupta, founder of Peptomist, and Anirudh Pathak, Co-founder of AnimStok.com, envisions a significant reduction in chicken prices, substantial job creation, and the elevation of Edo State as Nigeria’s poultry leader with significant export potential. The involvement of Coruscate Engineering & Consulting, under the leadership of Managing Director Jad Abinader, ensures the seamless integration of infrastructure, technology, and operational processes for the project’s success.
The “Edo Feeds the Nation” project encompasses a comprehensive strategy for revolutionizing the poultry industry in Edo State. Key components include a 1000-hectare poultry mega zone, encompassing on-site feed mills, hatcheries, and processing plants. This integrated approach is designed to optimize efficiency and minimize costs throughout the production chain. A robust cold-chain distribution network will ensure the preservation and efficient delivery of poultry products, further enhancing market access and reducing post-harvest losses. The project also incorporates the adoption of globally recognized best breeds like Cobb 500 and Isa Brown, known for their high productivity and disease resistance.
Furthermore, the initiative emphasizes export-oriented strategies, establishing free-range clusters and developing a branded “Benin Gold” chicken specifically targeting regional markets. This focus on export diversification will not only boost Edo State’s economy but also contribute to Nigeria’s overall agricultural export performance. The project’s anticipated impact on job creation is substantial, projecting the creation of over 3,000 jobs annually, totaling 15,000 jobs over the five-year period. This influx of employment opportunities will contribute to poverty reduction and economic empowerment within the state.
The “Edo Feeds the Nation” project represents a transformative undertaking with the potential to reshape the poultry landscape in Nigeria. By leveraging cutting-edge technology, implementing integrated systems, and focusing on export market development, the initiative aims to significantly reduce chicken prices, create thousands of jobs, and establish Edo State as a leading poultry producer in the region. The project’s success hinges on the collaborative efforts of international investors, the Edo State government, and technical experts, all working in synergy to achieve the ambitious goals set forth in the five-year master plan. The Edo State Investment Forum served as a crucial catalyst for this project, solidifying commitments and paving the way for its implementation.
