Edo state’s investment climate received a major boost on Monday as Governor Monday Okpebholo assured Presco PLC of his administration’s unwavering support, just as SIAT and its parent company announced a historic $100 million foreign direct investment injection into Presco’s operations in thr state.

The announcement was made during a courtesy visit by the management of Presco PLC, led by its Chairman, Mr. Rasheed Sarumi, and Managing Director, Mr. Raji George, to the Governor at Government House, Benin City.

Reacting to the development, the Country Director of the Coalition for Good Governance and Economic Justice in Africa, Mr. John Mayaki, said “this is a win-win for Edo state and for Presco PLC“.

Mayaki said, “Shame on the detractors. They attempted to weaponise a bureaucratic error to malign the administration, but the result today shows that transparent leadership always wins”.

Mayaki said the governor is focussed in stabilizing the business environment and strengthening investors confidence in the wake of recent controversies.

“I commend the courageous leadership of the governor which is anchored on transparency, dialogue, and respect for investors. The swift handling of the Presco land controversy and the governor’s openness to engagement has reassured investors that Edo state is governed by clear rules and stable policy environment. With this landmark investment, the governor has shown that the state is open for business and that investors have nothing to fear”, Mayaki said.

Continuing, he said recent political actors who are dishonest, and reckless had tried to portray the state as hostile to investors, but the governor triumphed over them. Edo is governed by rule of law and not wicked rumors. “This investment,” Mayaki said, “is the ultimate answer to this who thrive on misinformation”.