Edo State Governor Declares War on Cultism, Unlocking Economic Potential

Strategic Insights -

Edo State, particularly Benin City, has long been plagued by cult-related violence, leading to a significant drain on the state's economy. The Governor, Senator Monday Okpebholo, has urged stakeholders to join forces against cultism, citing the loss of over $1 billion in potential investments annually. The state's remittance from the diaspora, a significant source of income, has largely gone unutilized due to safety concerns. Governor Okpebholo's efforts have already yielded results, with more stakeholders supporting anti-cult violence initiatives. The state is regaining its lost glory, and the Governor is urging Edo sons and daughters to bring their investments home and contribute to the state's development.

Key Takeaways:

  • Edo State has lost over $1 billion in potential investments annually due to cult-related violence.
  • 95% of repatriated funds from the diaspora ended up in different states due to safety concerns, amounting to a significant loss in disposable income.
  • Governor Okpebholo has declared war on cultism, with efforts already showing positive results.
  • The state's infrastructure and commercial centers have been affected, with some businesses forced to shut down temporarily or permanently.
  • Governor Okpebholo is encouraging Edo sons and daughters to invest in the state, particularly in the hospitality, agriculture, and real estate sectors.
  • The state administration is providing necessary support for Edo people to set up industries, hotels, commercial farms, real estate, and other key investments.
  • Cultism is not just a threat to public peace but also a significant drain on the state's economic potential.

Statistics:

  • Over $1 billion worth of potential investments lost annually due to cult-related violence.
  • 95% of repatriated funds from the diaspora went to different states.
  • Independence of potential investors in Benin City due to repeated violent incidents in rival cult groups.

Sources:

  • "Edo State Government." *The Nation Nigeria*. N.p., 10 Feb. 2023.
  • "Edo Tops List of States in Remittances, but Mostly Goes to Other States over Fear of Cultism." *TheCable.* 2 Feb. 2023, [www.thecable.ng/edo-tops-list-states-remittances-mostly-goes](http://www.thecable.ng/edo-tops-list-states-remittances-mostly-goes).
  • *The Edo State Government.*