The stage is almost set for the much-talked-about gubernatorial elections in Edo State, billed for the 29th of September, 2020, as stakeholders, ”journos” and observers are gearing up for what would be an interesting showdown. The steam is gathering already and could be palpably felt within the entire Nigerian ”politicoshpere”
However, the GNB News, in line with its custom, has eyes for the post-election business, as it looks to present an awesome report of a carefully contrived revenue-generation model for this state that has tons of historical gleanings behind it. One that the political class can reference when the elections are over.
For starters, we take a look at the current revenue-generation outlook of Edo state.
According to a 2020 report by Nairametrics, 33 states, including Abuja, recorded positive growth in revenue (IGR).
- Yobe state recorded the highest rise in IGR between 2018 and 2019 as the revenue grew by 92.7% from N4.38 billion to N8.44 billion.
- Zamfara and Osun states followed with respective growths of 87.85% and 72.64%. Specifically, Zamfara state grew its revenue from N8.2 billion to N15.4 billion, while Osun IGR rose from 10.4 billion in 2018 to N17.9 billion in 2019.
- Other states that significantly grew their IGR include Benue, Adamawa and Kaduna, having grown their revenue by 59.2%, 56.4%, and 52.7% respectively.
The report clearly shows Edo State still has not fully begun to harness the plethora of avenues available to it, in making wealth.
In another report by the Nigeria Bureau of Statistics (Infographics Below), the total revenue available to Edo State in 2019 was put at N94, 158, 096, 169.67, 69%, of which was contributed by the Federal Accounts Allocation Committee (FAAC)

Although, it has to be stated that the current administration of Governor Godwin Obaseki has done a lot to improve the state’s fiscal and financial outlook in the last four years of being at the helm of affairs in the state
Since his administration took over the realms of office in Edo State, Governor Obaseki and his team have been aggressively driving investments into the State, exploring ways of improving the “Ease of Doing Business Environment”, while evolving robust processes for boosting tax collection.
To this end, the state has witnessed a surge in investments from 2017 as heavyweights in agriculture, Fast Moving Consumer Goods (FMCG) companies, and manufacturers are moving, in droves, into the state.
Within few months of being in office, Mr Godwin Obaseki initiated a set of Internally Generated Revenue (IGR) reforms which yielded positive results, one that saw the annual collection in local council areas ascend from N30 million in November 2016 to 150 million in November 2017.

The idea of deploying automated systems, such as Point of Sale (POS) machines, tax vouchers, among others, proved the game-changer in the revenue collection capacities of the local councils. The increased revenue profile subsequently made local councils buoyant, meeting their statutory obligations, while contributing to development.
Proshare.ng reported that the state, led by the governor, took a methodological approach in attaining this IGR revolution, conducting a pilot study in 9 locations in Oredo local council, to operationalize the concept.
Oredo LGA, it was said, would normally remit N42,000 a day, but after the introduction of this innovation, that sum soared to N500,000.
Clearly, the governor has advanced the state, in no small measures, in this direction, however, the state could be more, given its immense potentials on many fronts. Edo remains the epicenter of Nigeria’s rubber production, with Benin City already boasting of several processing plants and a crepe rubber factory. Little wonder the Rubber Research Institute of Nigeria was situated in the city in 1961.
The traditional export of palm oil and palm kernels is equally deserving of a huge mention. GNB News once wrote that Edo State has the largest oil palm plantation in Nigeria and, that, it is very pertinent to reviving the oil palm industry in Nigeria,
We can also make recourse to the words of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele describing Edo state as the nation’s largest oil palm abode, further affirming the state’s position as the safest haven for oil palm investment, as it seeks to become a leading producer of the commodity in the globe.
One striking fact, according to the apex bank, remains that if Nigeria had maintained its market dominance in the palm oil industry, the country would, by now, have been in a position to be grossing approximately $20 billion, annually, from cultivation and processing of palm oil.
Now, If you place this point against the backdrop of the fact that Edo ranks highly out of the nine states considered as Nigeria’s main palm oil reserves (others being Akwa-Ibom, Abia, Rivers, Imo, Ondo, Bayelsa, Cross River and Delta); then it would be smart to extrapolate that, of the $20billion possibly accruable to Nigeria from palm oil export, hypothetically, $2.2b can go the way of Edo state, annually.
Edo state has a major share of the Several million small palm tree plantations which are scattered over an area approximately ranging from 1.65 million hectares to 2.4 million hectares and 3 million hectares.
The estimate for palm tree plantations in Nigeria ranges from 169,000 hectares (72,000 hectares of plantations property and 97 000 ha of small plantations) to 360,000 hectares of plantations.
Culture, Arts & Tourism
The ancient Benin empire was one of the oldest and most highly developed states in the coastal hinterland of West Africa. The empire offered a snapshot of a relatively well-organized and sophisticated African polity in operation before the European colonial interlude
Benin Kingdom, located in the thick equatorial rain forest zone of present-day southern Nigeria, with its rich vegetation, which supports agriculture and provides most materials for craft industries, is one of the oldest and powerful kingdoms of the forest region of West Africa, dating back to the 11th century.
Benin City, the metropolitan headquarters of the former Benin Kingdom, is now the administrative headquarters of Edo State of Nigeria. It has now been constituted into seven council areas of Edo State namely: Egor, Ikpoba-Okha, Oredo, Orhionmwon, Ovia East, Ovia West and Uhunmwode.
Situated on a plain, Benin City was enclosed by massive walls in the south and deep ditches in the north. Beyond the city walls, numerous further walls were erected that separated the surroundings of the capital into around 500 distinct villages.
The Guinness Book of Records (1974 edition) described the walls of Benin City and its surrounding kingdom as the world’s largest earthworks carried out prior to the mechanical era.
Pearce also wrote: These walls “extended for some 16,000 km in all, in a mosaic of more than 500 interconnected settlement boundaries. They covered 6,500sq km and were all dug by the Edo people … They took an estimated 150 million hours of digging to construct, and are perhaps the largest single archaeological phenomenon on the planet.”
Benin City was also one of the first cities to have a semblance of street lighting. Huge metal lamps, many feet high, were built and placed around the city, especially near the king’s palace. Fuelled by palm oil, their burning wicks were lit at night to provide illumination for traffic to and from the palace.
When the Portuguese first ‘discovered’ the city, they were stunned to find this vast kingdom made of hundreds of interlocked cities and villages in the middle of the African jungle.
They called it the ‘Great City of Benin’ at a time when there were hardly any other places in Africa the Europeans acknowledged as a city. Indeed, they classified Benin City as one of the most beautiful and best-planned cities in the world.
In 1691, the Portuguese ship captain, Lourenco Pinto, observed, “Great Benin, where the king resides, is larger than Lisbon; all the streets run straight and as far as the eye can see. The houses are large, especially that of the king, which is richly decorated and has fine columns. The city is wealthy and industrious. It is so well governed that theft is unknown and the people live in such security that they have no doors to their houses.”
In contrast, London, at the same time, was described by Bruce Holsinger, professor of English at the University of Virginia, as being a city of “thievery, prostitution, murder, bribery and a thriving black market made the medieval city ripe for exploitation by those with a skill for the quick blade or picking a pocket.”
At the centre of the city stood the king’s court, from which extended 30 very straight, broad streets, each about 120-ft wide. These main streets, which ran at right angles to each other, had underground drainage made of a sunken impluvium — the square basin in the centre of the atrium of an ancient house, which received rainwater from an opening in the roof.
Houses were built alongside the streets in good order, the one close to the other wrote the 17th-century Dutch visitor Olfert Dapper.
“Adorned with gables and steps … they are usually broad with long galleries inside, especially so in the case of the houses of the nobility, and divided into many rooms which are separated by walls made of red clay, very well erected,” Dapper said.
The historical city of Benin, Edo State, was widely known for its art — Bronze plaques and sculptures. The Bronzes, which were looted during the British punitive expedition of 1897, are now available in museum collections in Britain, Europe and America. The ‘power-drunk’ invaders pillaged the town, and then exiled the king and finally deposed him.
The British took hundreds—or perhaps thousands—of artworks, though by no means all of them. Some of the seized Benin works were accessioned by the British Museum; many more were sold at public auctions in 1898, in part to pay for the costs of the so-called “punitive expedition” to Benin City. The British had no trouble finding buyers for the bronzes.
Despite this historical tragedy, the Benin Bronzes have played a significant role in developing a greater appreciation for African art and culture across the world.
Due to the collecting habits of museums in Europe and North America, the most common objects associated with the Benin bronzes are plaques and commemorative head sculptures.

When these objects hit the market, people were shocked that there was such incredibly fine, finely made, high-quality bronze and ivory work coming out of Africa.
At the time, the Benin bronzes were unlike any African artworks and artefacts that Europeans were familiar with—such as elaborate Yoruba headdresses, tunics, and another regalia—both aesthetically and as records of a powerful and advanced kingdom.
Many of today’s major collections in Europe were assembled from the British auctions of 1898. Other Benin works, including some of those in U.S. museums, come from the 1970s when the collection of the Pitt Rivers Museum in England was sold off.
The Oba Akenzua ll Cultural Centre, Benin City is the hub of cultural activities in the state. A fine architectural masterpiece with beautiful murals of Edo traditional motifs, the centre is complemented by Urhokpota Hall, which is close by on Ring Road. These two theatres have hosted performances symposia and exhibitions. Edo filmmakers are coming out with more dynamic and interesting home movies both in English and Edo language.

One of the stolen Benin artefacts
GNB News believes a world-class Festival of art and culture can be created on the back of all of this, one that will serve as a major money-spinner,grossing an additional $2.2b for the state(further details in future issues), one in the mould of the Al Dhafra Camel Festival, Abu Dhabi, UAE, which ranks as the world’s largest camel beauty pageant happens here. The event begins in December till Mid- January which is a celebration of Bedouin. They are desert living groups who started to become contemporary after the 1950s. The camels are adorned in beautiful accessories and flaunt they beauty and the prettiest and fastest ones are given honours. The additional perks are amazing food and shopping options!
Tourists who troop in from different parts of the world lodge in exotics hotels like The Abu Dhabi EDITION, Premier Inn Abu Dhabi International Airport Hotel, Yas Hotel Abu Dhabi, Khalidiya Palace Rayhaan by Rotana, etc.
One thing that would be of great advantage, in putting this together is the location of Benin city, which confers on it an innate logistical advantage. Presenting an ideal destination for both local and foreign investors as a central city on the route for road travel between the North, West, East and Southern regions of Nigeria. With daily flights to the economic nerve centre (Lagos) and the political capital (Abuja), an extensive road network with other parts of Nigeria, Edo state
Therefore, the Grand Nigerian Business Foundation has carefully curated- through research and accurate fact-finding, some of the most viable areas of investment in this state that boast of a rich social-cultural heritage in Nigeria
Since Edo state remains a major hub for tourism, art & culture, it behoves on the state government, the private sector and well-meaning indigenes of Edo State to work out modalities in creating international festivals of global repute, annually, that would leverage this age-long rich Arts and Cultural heritage- which automatically create a buoyant tourism industry. What is fascinating, here, is the tremendous potential to set off a value chain that will ripple over the hospitality industry.
As it is common knowledge, where tourism goes, Hotels, Service apartments and Grand Resorts also go. Thus, The Grand Nigerian Business Foundation projects that there would a new twist in the international tourism market, post-COVID-19 (with the landscape currently disrupted), as tourists, globally, will look the way of uncharted tourism territories. Indeed! It is time took the pole position in this arena globally
Sequel to this, we would love deliberate actions be taken by the State’s Tourism Board to ensure the following standing tourism structures are upgraded to complete the proposed value chain
Wild Life Tourism Structures
Okomu National Park – A prestigious national park that boasts of wildlife and rare animal species including elephants, buffaloes, red river hogs, chimpanzees, leopards, bush baby, putty nosed guenon, porcupine, pangolins, duikers, antelopes, the white-throated monkey in their natural habitat
There is an urgent need to upgrade the Okomu National Park to international standards, it’s quite surprising to note that Nigeria is conspicuously missing from the list of ‘’go to’’ countries when you talk African game reserves and parks for tourism. A list that boasts of South Africa, The Gambia, Kenya, Namibia, Tanzania, Botswana and even Zimbabwe. Okomu National Park ticks the right boxes in this direction and could well be deployed as a revenue-generating gate for the state, via tourism
Ogba Zoological Garden – A botanical and zoological garden with an arboretum and distinctive features of a nature park in an urban setting. Houses such animals as Lions, Chimpanzees, Giant Tortoises, Rock Python, Peafowls, etc. with extensive landscaped grounds, picnic areas, and children’s playground. Also has forest trails and a river beach.
Oba’s Palace, Benin City – A palace in the heart of the city and a centre of historical monuments, parallels can be drawn to Buckingham or Windsor Palaces in the UK. Both of which are marketed global tourist attractions. The same can be done for the Oba’s Palace.
Walls, Caves & Landscapes
Benin City Wall & Moat – Comparable to the Great Wall of China, should be rebuilt, reinforced and turned in to a global tourist attraction instead of being left to crumble and dilapidate.

Benin City Museum – Comparable to the British Museum and houses some of the most treasured antiquities and world-famous bronze works, terracotta, Ivory carving and cast-iron artefacts of the ancient Benin Kingdom
Ososo Tourist Centre – a hilly and rocky town situated on the boundary between Edo and Kogi states and provides spectacular views. The Rivers Niger and Benue confluence can be viewed from this tourist attraction.
Somorika Hill – Boasts of a picturesque and beautiful environment and brilliantly suited for climbers.
Gelegele Fountains & Historical Port of Benin Site – Gelegele is reported to be the first place of contact with Europeans in 1472. Evidence suggests that slaves were also conveyed from the region via the Gele Gele Sea Port to Europe.
Ughoton – A historical landmark for early western expeditions into the shores of Africa and connected with the British expedition of 1897, also served as a depot for the infamous Trans-Atlantic slave trade.
Caves
The Edegbake and Oghodagho Caves in Estako which accommodates over 200 people for purposes of relaxation. The stream that flows from Edegbake cave provides beautiful scenery. These caves are believed to be prehistoric and home to a community of early men.
The Ede or Anagwu Caves in Etsako with a stream which flows through the basement of the caves. The two chambers combined can conveniently sit up to 500 people.
Holy Aruosa – A traditional Bini Church which is similar to the Church of England and referred to as the Church of Benin has the Oba of Benin as the Spiritual Head. Established in 1849 and located on a site where the Binis are believed to have had contact with God.
CULTURE- Huge Investments are required around the following in order to make them Globally Relevant in the light of what has already been stated above
Masquerades – Highly prevalent across Edo State, linked to festivals and believed to be a medium for communicating with ancestors and celestial deities. Popular amongst these is Ekpo and Igbabonelimi. A platform for showcasing and making these masquerades more popular should be explored in order to attract potential visitors and tourists.
Festivals – Edo state has a rich tradition of festivals and masquerades which should be showcased and promoted. They offer tourism opportunities for visitors to see our rich cultural heritage. Some of these include: Igue and Ewere, Eho, Ebomisi, Ohonomoimen, Adu Ikukun, Ighele, Oto Uromi, Ivbamen or Ororuen and Oriminyan festivals
It nonetheless would be a great disservice to other art forms and indeed the other ethnic groups and tribes that today make up Edo state if we do not regard them, as there are worthy of mention in their own right.
In the performing arts, the state is home to numerous troupes and groups including the Edo Cultural Group, Uyi Edo Theatre Group, Inneh troupe, to mention a few.
The Uneme-Nekhua and the South Uneme people in Akoko Edo and Etsako West LGAs are known for being good blacksmiths, with particular skill in making traditional ceremonial swords. Gold and silversmiths abound in cities in the state fabricating ornaments. Somorika, Auchi, Igarra, and Ubiaja are major centres of traditional cloth weaving with colourful prize-winning motifs. Ojah, also of Akoko Edo is renowned for its fine pottery.
.Art galleries are not uncommon in Benin City, the state capital, particularly on Airport and Mission roads. The Edo Festival of Arts and Culture EDOFEST held in December put the state’s culture and tourism destinations on the show with a movie premiere – ESOHE, music and cultural shows, seminars and talk shows, photo exhibitions amongst others.
There are positive signs as the British museum held talks with other European museums on possibly returning the Bini bronze statues. This would be a welcome catalyst in the state’s drive towards exploring its tourism potential as they would be on permanent display.
Rubber
The global Rubber Market Size is put at USD 60.38 Billion at 5.1% with Compound annual growth rate (CAGR) Forecast 2019 to 2026 (Higher Demand from Automotive Sector), so when you place the fact that Edo soil is favourable for Rubber cultivation against the fact that the state has begun recultivation of rubber, here lies another avenue for real revenue generation that could hypothetically bring $1.3billion dollars worth of revenue to the state
It will be recalled that, in a deliberate step to position the state as an agro-based industrial hub, Governor Godwin Obaseki, in 2018, revived the Urhonigbe Rubber Plantain by planting a fresh rubber tree, symbolising take-off of the N5.1 billion rubber estate
The rubber plantation situated at Urhonigbe, Orhionmwon local government area of the state and operated by a private firm, Rubber Estates Nigeria Limited, led by Mr. Philippe Carty.
In closing, if Edo state can be deliberate about appropriating all these stated revenue-generation avenues, it might well be on its way to attaining an unassailable level of affluence that would be unmatched by any other state in the country..
