Edo Loses Over $1 Billion Annually to Cult-Related Violence, Says Governor Okpebholo

By Tony Osauzo, Benin

Economic Toll of Cult Violence in Edo State

Edo State Governor Monday Okpebholo has revealed that cult-related violence costs the state over $1 billion in potential investments each year. The governor’s Chief Press Secretary, Fred Itua, emphasized how these clashes have led to loss of lives, property destruction, and a decline in tourism and business investments, severely hampering economic growth.

Impact on Investment and Business Climate

Itua explained that cult violence, which plagued the state for five years before Okpebholo’s administration, created an unstable security environment, discouraging investors and disrupting economic activities. “What we witnessed in Edo was more than a threat to public peace—it was a major drain on our economic potential,” he stated.

Citing data from the Diaspora Commission, Itua noted that while Edo leads in diaspora remittances, 95% of these funds are invested outside the state due to concerns over cultism and crime. The violence has also damaged critical infrastructure and commercial centers, forcing businesses to shut down and deterring visitors, which has hurt the hospitality and tourism sectors.

Governor’s Anti-Cultism Efforts Show Results

Governor Okpebholo’s crackdown on cultism has begun to restore peace, particularly in Benin City, with stakeholders actively supporting the initiative. Itua urged Edo indigenes, both in Nigeria and abroad, to consider investing in the state’s thriving sectors, including hospitality, real estate, and agriculture.

“Governor Okpebholo is reforming land administration to make real estate a viable investment, and agriculture presents significant opportunities for job creation and high returns,” he said. The state government has pledged to safeguard investments in industries, hotels, and commercial farms.

Community Engagement for Sustainable Peace

To further curb cult activities, Okpebholo is collaborating with community leaders, youth groups, civil society, and security agencies to address the root causes of cultism. “This is a collective responsibility. We call on all Edo citizens to join hands with the governor in reclaiming our communities,” Itua added.

The governor remains committed to fostering a secure environment for businesses and residents, ensuring long-term economic stability and growth.

Full credit to the original publisher: The Sun Nigeria