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

By Tony Osauzo, Benin

Economic Impact of Cult Violence

Edo State Governor Monday Okpebholo has revealed that cult-related violence costs the state over $1 billion in potential investments annually. The governor, speaking through his Chief Press Secretary, Fred Itua, emphasized that the persistent clashes have led to loss of lives, property destruction, and a decline in tourism and investment, severely hindering economic growth.

Disruption to Business and Investment

Itua explained that cult violence, which plagued the state for five years before Okpebholo’s administration, has deterred investors and disrupted economic activities. “What we have witnessed in Edo was more than a threat to public peace—it was a significant drain on our economic potential,” he stated.

Despite Edo leading in diaspora remittances, 95% of these funds are invested elsewhere due to security concerns. The violence has also forced businesses to shut down and discouraged tourism, affecting key sectors like hospitality.

Governor’s Anti-Cultism Efforts

Governor Okpebholo’s crackdown on cultism has begun yielding results, with stakeholders collaborating to restore peace, particularly in Benin City. Itua urged Edo indigenes, both locally and abroad, to invest in sectors like hospitality, real estate, and agriculture, citing ongoing reforms in land administration.

“Governor Okpebholo is sanitizing land administration, making real estate a viable investment. Agriculture can generate significant returns and jobs,” Itua assured, promising government support for investors.

Community Engagement for Sustainable Peace

To eradicate lingering cult activities, the governor is engaging community leaders, youth groups, and security stakeholders to address root causes. “This is a collective responsibility. We call on all Edo citizens to work with the governor to reclaim our communities,” Itua added.

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

Credit: The Sun Nigeria