Okpebholo anti-cultism drive boosts investment in Edo

Investor confidence in Edo State is showing signs of recovery following the government’s renewed crackdown on cult-related violence, according to a leading private sector player.

The Managing Director of Skyewise Group, Elvis Abuyere, says Governor Monday Okpebholo’s anti-cultism campaign has helped reshape perceptions of security in the state capital, Benin City, making it more attractive to investors.

He made the remarks ahead of the formal launch of Skyewise Group’s operations in the state.

Security improvements reshape business outlook

According to Abuyere, the reduction in cult-related activities has had a direct impact on business confidence.

He stated that the security situation has improved significantly compared to previous years.

“Before now, cultism was said to be high, but it has reduced to the barest minimum,” he said.

“That means it is now safer for us to do business here.”

His comments reflect a broader view among some investors that stability is key to unlocking economic potential in urban centres like Benin City.

Challenging negative perceptions of Edo State

Abuyere also pushed back against long-standing negative narratives about Edo State.

He argued that on-the-ground experience tells a different story from external perceptions.

Benin City, he said, is increasingly positioned to attract and retain investment if current reforms are sustained.

Analysts note that insecurity has often been cited as a barrier to private sector growth in parts of southern Nigeria.

Skyewise Group expands footprint in Nigeria

Skyewise Group operates across multiple sectors of the economy.

These include investment services, credit management, logistics, automobile services, youth empowerment, and commercial real estate.

The company has been active in Nigeria for over a decade.

It is now seeking to deepen its presence in Edo State.

Youth empowerment and entrepreneurship focus

Abuyere highlighted entrepreneurship as a central pillar of Africa’s economic future.

He said Nigeria has a leading role to play in that transformation.

Through the Skyewise Foundation, the company claims it has trained and empowered young people for over six years.

Some beneficiaries have reportedly gone on to establish their own businesses.

“We have been supporting businesses through loans and empowerment initiatives,” Abuyere said.

“Our goal is to help young people build something meaningful and sustainable.”

Broader economic implications

The investor also addressed wider concerns about youth unemployment and social development.

He argued that targeted empowerment programmes can help unlock the potential of young Nigerians.

This, he said, could contribute to long-term economic growth and stability.

Investment climate tied to security reforms

The remarks by Skyewise Group underline a recurring theme in Nigeria’s development debate: security and investment are closely linked.

For Edo State, stakeholders say sustained anti-cultism efforts could be critical in maintaining investor confidence.

However, observers also note that long-term success will depend on consistent enforcement and broader economic reforms.

Edo Land Use Charge Crackdown Expands

Actionable Takeaways

• Companies operating in Edo State may need to review their Land Use Charge compliance records urgently.
• Property owners should confirm outstanding obligations with EdoGIS and EIRS to avoid sanctions.
• Investors and businesses will likely monitor how transparently the enforcement process is handled.

The Edo State Government says it is preparing a wider enforcement campaign against several high-profile firms accused of failing to settle land-related taxes across the state.

Among the companies named are Dangote Group’s Okpella Cement Plant, Nigerian Petroleum Development Company, Ossiomo Power, Barnsley International, 7Up Bottling Company and Nigerian Bottling Company.

Officials in Benin City stated that the affected organisations allegedly owe accumulated property taxes, ground rents and tenement rates captured under the state’s Land Use Charge framework. Authorities warned that premises belonging to defaulters could soon be sealed if payments are not made.

The latest move signals a tougher revenue recovery drive by Governor Monday Okpebholo’s administration as it seeks to increase internally generated revenue for infrastructure and public projects.

Edo Land Use Charge Enforcement

According to government officials, notices had earlier been issued to affected businesses on 24 July 2025. The warnings were also circulated through national newspapers and social media platforms to notify companies and property owners of pending sanctions.

Authorities said the enforcement action follows alleged violations of Section 30 of the Land Use Charge law after repeated reminders failed to secure compliance.

The government had already sealed several commercial premises in Benin City during an earlier operation on 27 August. Officials now say the exercise will spread to Edo North and Edo Central senatorial districts.

Banks, petrol stations, major trading companies and some residential properties are also expected to face enforcement measures during the next phase of the operation.

Officials Defend Revenue Recovery Drive

Dr. Tunde Eigbiremolen, Director of Media at the Edo State Geographic Information Service (EdoGIS), praised businesses and residents who regularly fulfil their tax obligations.

He said compliant taxpayers would continue to receive recognition from the government, adding that the exercise was not designed solely to punish defaulters.

According to him, the state is attempting to recover billions of naira in unpaid charges needed to fund road construction, public infrastructure and other development programmes promised by the current administration.

Why the Land Use Charge Matters

The Land Use Charge was introduced as a unified property-based tax system. It combines ground rent, property tax and tenement rates into a single payment structure managed jointly by EdoGIS and the Edo Internal Revenue Service (EIRS).

Analysts say many Nigerian states are increasingly relying on property taxation as federal allocations become less predictable. However, enforcement campaigns involving large corporations often trigger debates about transparency, valuation methods and the broader business climate.

For Edo State, the crackdown may test the balance between improving revenue collection and maintaining investor confidence in a period of economic pressure.

The Edo government’s decision to target major firms over unpaid land charges marks one of the state’s most aggressive tax enforcement drives in recent years.

While officials insist the action is necessary to fund development projects, affected companies may face mounting pressure to resolve outstanding obligations before sanctions escalate further.