The Edo State Government led by Governor Monday Okpebholo has renewed political and legal hostilities with former Governor Godwin Obaseki over the financing, ownership and economic value of the Radisson Hotel project in Benin City. The dispute centres on competing claims about how the project was funded, the state’s financial position, and current and future benefits to Edo people.
State Commissioner for Information and Strategy Kassim Afegbua criticised claims by Obaseki that the state injected ₦2 billion as equity to acquire and develop the hotel. Afegbua said the Radisson project was funded with ₦25 billion raised from the capital market, and that the current administration is still servicing this debt at ₦385 million monthly through an irrevocable payment order from the state’s Internally Generated Revenue. He labelled the financing and transfer of majority equity in the project as lacking transparency and accountability, accusing the previous administration of profligacy, fraud and dubious conduct.
In response, Obaseki’s media team defended the project’s structure and economic promise, saying the development was transferred to a private investor at a multiple of its investment value, while retaining 20 per cent equity for Edo State. His aides said the hotel which they argue was designed to support job creation for up to 50,000 workers was stymied by what they describe as propaganda and media attacks.
The rival statements signal deepening friction over legacy infrastructure projects, with the incumbent government suggesting past deals were opaque and mismanaged, and Obaseki’s camp accusing the current leadership of undermining high‑impact investments. Critics warn such public disputes risk dampening investor confidence in Edo’s economic environment.
Analysts note the controversy extends beyond this project, reflecting broader tensions between the Okpebholo administration and the Peoples Democratic Party (PDP), which has also publicly contested the government’s narratives around major investments and fiscal management.
