Edo State Governorship Election 2024: Economic Challenges and Job Awaiting Next Governor
Edo State residents defied the rain on Saturday, September 9, 2024, to vote on who they believe will lead them amid economic challenges.
After two terms in office, Governor Godwin Obaseki will leave office to hand over to either Monday Okpebholo, APC candidate, Asue Ighodalo, PDP, Olumide Akpata of the Labour Party (LP).
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Other contenders include Tom Iseghohi of the Action Alliance (AA), Aner Abdullahi Aliu of the Social Democratic Party (SDP), Azena Azemhe Friday of the New Nigeria Peoples Party (NNPP), Osifo Isiah of the All Progressives Grand Alliance (APGA), Ugiagbe Sylvester of the All People Movement (APM), Areleogbe Osalumese of the All Peoples Party (APP), Kingson Akhime Afere of the Action Democratic Party (ADP), Udoh David of the African Action Congress (AAC),
Also, Akhalamhe Amiemenoghena of the Zenith Labour Party (ZLP), Osirame Edeipo of the Boot Party (BP), Iyere Kennedy of the Accord Party (AP), Osarenren Derek Izedonmwen of the African Democratic Congress (ADC), Key Ndidi of the Peoples Redemption Party (PRP), and Paul Okungbowa Ovbokhan of the Young Progressive Party (YPP) will all look to replace Obaseki.
The job awaiting next governor
There is no doubt that Nigerians are going through one of the toughest periods in recent history, with the high cost of living becoming a major challenge for millions across the country.
Inflation has surged, affecting the prices of basic commodities such as food, fuel, and housing, while wages remain stagnant for many.
Also, rising unemployment rates and currency depreciation have left families struggling to make ends meet.
While it is easier to look at the federal government, the policies and performance of subnational has never been more important.
Here are the economic numbers awaiting the next governor
It is beyond winning the election for the next governor of Edo state. o the
Inflation
According to data from the National Bureau of Statistics, Edo State had the fourth-highest food inflation rate in the country at 41.2% in August 2024, while its item inflation rate of 31.9% ranked 23rd highest in the country
Debt record
The Debt Management Office reports that, as of the end of the first quarter of 2024, Edo State has a total domestic debt of N72.37 billion, while external debts owed to foreign institutions stood at $314.44 million as of December 2023.
IGR
Internally generated revenue (IGR) is a key metric for determining the health of a state, rather than solely relying on federal monthly allocations.
The most recent IGR data from the NBS, which dates back to 2022, showed that the government of Edo State had the 5th best IGR at N47.45 billion.
The new governor will be looking to improve these figures without burdening residents, especially given the recently increased minimum wage to N70,000.
Foreign investments
One major task for the next governor is to find ways to attract foreign investors to the state.
The last time Edo recorded foreign investments was in 2019, and for the past four years, the NBS has not reported a single dollar of foreign investment entering the state.
Petrol prices
Petrol, which has been a key driver of the rising cost of living, saw Edo State residents paying an average price of N669.75 in July 2024.
Although the next governor has limited influence over petrol pricing, improving road infrastructure and promoting alternative fuels such as Compressed Natural Gas (CNG) through the provision of conversion kits could help residents reduce transportation costs across the state.
Cooking gas Price
NBS data shows that the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas (cooking gas) was N5,572.22 as of July 2024, while refilling a 12.5kg cylinder cost N13,971.67 in the state.
The price for the 5kg cylinder is the fourth cheapest in the country, while the 12.5kg price is ranked 25th in terms of costliness.
Cost of healthy diet
According to data from the National Bureau of Statistics (NBS), the cost of maintaining a healthy diet for urban dwellers in Edo State is N1,195, making it the 21st cheapest in Nigeria.
In contrast, for rural residents, the cost is higher at N1,268, ranking Edo State 16th among the most expensive states for a healthy diet in rural areas.
Read more Edo governorship election 2024:
Edo governorship election 2024: Nigerian prophet shares prediction on winner, 'he is God's choice'
- Edo governorship election 2024: Shehu Sani reacts as INEC says 379,000 PVCs uncollected
- Edo: Prophet Emmanuel predicts win for PDP
Edo election 2024: Ighodalo raises alarm
Meanwhile, Ighodalo accused the APC of vote-buying.
Speaking to newsmen, Ighodalo stated that exit polls show that he is doing very well in the Edo election. He, however, disclosed that he received feedback that APC agents are trying to undermine the electoral process.
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Source: Legit.ng
