On November 12, 2016, Godwin Obaseki became the Governor of Edo State. At the moment, he heads the strategic-economic group of this region. He has a wide range of administrative tasks aimed at improving the welfare of citizens. Read the Godwin Obaseki biography to learn how this person came to his current position.
Early life and education
- According to the official website, he was born in Benin City. This was where he received his primary and secondary level education.
- His family is quite illustrious and famous, so it’s no surprise that he grew up to be well-known too.
- Godwin graduated from the University of Ibadan. It was where he received a bachelor’s degree.
- In addition, he studied at Columbia University and New York Pace University and has an MBA degree in International Business and Finance.
- He is a member of the Chartered Institute of Stock Brokers and a graduate of the Executive Program of the Business School of Lagos.
- In 2001, the World Economic Forum appointed him Global Leader for Tomorrow.
His professional work began more than 30 years ago when he founded the track records of asset management, investment banking, and regulation of securities trading and brought it to an international level.
In 1983, he was an exchange broker at the Capital Trust Brokers Limited Lagos. This position gave him considerable experience for his subsequent cooperation with International Merchant Bank.
In 1988, he became an employee of AVC Funds Limited, where he held the position of project manager. Because of his work, new generation banks emerged and they fundamentally changed the finance industry in Nigeria.
In 1992, he founded the New York based Africa Chamber of Commerce. As result of this establishment, the American companies got the opportunity to do business in Africa.
Between 1993 and 1995, he was the director of Equatorial Finance Co situated in New York. This consulting firm placed an important emphasis on Africa.
In 1995, he became the pioneer Managing Director and founder of Afrinvest (SecTrust). The organization has taken a leading position in the management of investment banks in Nigeria. The same year, SecTrust obtained the role of a correspondent-broker.
In 1996, the first SecTrust product (international debt fund), was created. Owing to this, local population had a possibility to profitably invest in dollars. The income of this fund exceeded all possible expectations. SecTrust issued global depositary shares, attracted $50 mln and was a local advisor to the Nigerian Bank.
In 2005, Afrinvest played the role of an adviser in large and significant transactions of the Nigerian capital market. Afrinvest is one of the most prominent consulting firms in the field of domestic market corporate finance. Its team is engaged in major innovative projects which constantly obtains leadership in dealing with Nigerian securities.
Many important deals were made by the organization. In particular, the Eurobonds in African countries. As a result, the world’s first merger of the Sub-Saharan countries and the greatest listing in the stock exchange history in Nigeria were conducted. Afrinvest introduces new financial products (Eurobonds, deposit receipts), conducts research.
At the moment, Godwin Obaseki is the chairman of the board of directors. In 2014, the organization was named the leader in asset management according to the Wealth & Finance magazine.
Also, the Edo State governor chairs the strategic and economic team of the local government. He got this position in 2009.
His main achievements in this role:
- documenting state economic development through strategic planning, which is constantly revised and updated;
- involvement of all parties not only in the planning and implementation of tasks but also in monitoring the current situation and evaluating the results;
- attracting a loan of N25 billion from the Nigerian capital market for infrastructure development, implemented in 2010;
- a development loan of $225 million from the World Bank. The amount of the first tranche was $75 million;
- successful negotiations, effective political dialogues, including a round table on energy in 2010, education – 2011, agribusiness – 2012.
His work has led to the achievement of many important results. In particular, in Ihovbor the Azura-Edo IPP project is developed for more than $1 billion.
In addition, educational reforms were carried out, which led to a significant improvement in the performance of students’ results in examinations.
After the Agribusiness Summit in 2012, the state began to use investments to develop rubber plantations on a financed and private basis.
At present, efforts are aimed at expanding economic opportunities. Effective schemes are used to attract the finances required to work with resources such as rubber, rice, other crops, cocoa, oil palm.
The Edo State Committee is also engaged in other activities:
- collection of tax assessment data for the Internal Revenue Service;
- work with small and medium-sized enterprises;
- acts as the secretary implementing laws established at the University of Science and Technology in Uzaire;
- implementation of the tasks of the pension plan committee;
- checking the credentials of teachers in Edo State educational institutions;
- land economy;
- assistance and support for Niger-Delta;
- water supply in the Edo State.
Governor Obaseki is, in one way or another, responsible for all these processes. He has been able to cope with such a large set of duties.
Obaseki was a member of Presidential Committee that organised pension reform in Nigeria, and worked in the commission of exchanges, securities and reinvested bonds.
Between 2006-2009, he worked in the Nigerian Stock Exchange Council. Obaseki was also a member of the boards of directors of such companies as Pillar Oil, Seric Impianti International, Dorman Long Engineering.
He was the head of Junior Achievement, a branch of the global non-profit company which brings students’ attention to the market economy and its values. He is also a trustee of a non-governmental foundation that provides medical and educational services to less privileged members of the population.
The Biography of Godwin Obaseki proves that his activities are very crucial for Edo State and the whole Nigeria. Let’s hope that in the future his work will be no less fruitful and the life of citizens will improve under the leadership of such a responsible and proactive man.
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