The World Bank has awarded Ekiti State more than $200 million to support the state’s economy’s overall growth.
Dr. Ndiame Diop, the bank’s country director, disclosed this at a formal meeting with Biodun Oyebanji, the governor of Ekiti State, on Tuesday. Diop claims that of the $200 million, $60 million has already been allocated to certain crucial areas of the state’s growth.
This was revealed on Tuesday during an official meeting between the governor of Ekiti State, Biodun Oyebanji, and the bank’s country director, Dr. Ndiame Diop. According to Diop, of the $200 million, $60 million has already been given to a few key regions for the development of the state.
He clarified that the funding is intended for eight distinct projects, each of which requires improved cooperation from the Ministries, Departments, and Agencies (MDAs) in order to be successful.
During the strategic meeting held at the Transcorp Hilton in Abuja with Heads of Development Agencies, Governor Oyebanji expressed his desire for enhanced cooperation and engagement with local and international development agencies to guarantee the comprehensive growth of the state’s economy. He claimed that through cooperation and resource sharing, the state’s development goals may be greatly expedited with the correct alliance and collaboration.
He emphasized in his introductory speech that Ekiti State has positioned itself as open, honest, and responsible in order to foster stakeholder trust and guarantee the successful execution of development projects. He declared that his administration is committed to leveraging partnerships, seeking cooperation, and obtaining resources in order to propel growth in the vital sectors of the state economy, such as infrastructure, agriculture, healthcare, and education.
Emphasizing the various reforms implemented by his government to foster investment, the governor highlighted Ekiti’s top ranking in the transparency index and its status as the safest state in the nation, which makes it a perfect place for commercial activities. According to him, his administration is deliberately working with domestic and foreign development partners to collaborate and form partnerships in order to realize the state’s 30-year development goal.
Ekiti State is open for business and willing to collaborate with investors who share the state’s vision of sustainable growth and development, according to Oyebanji, who also called on the development partners to consider the state as their next investment destination and to take advantage of the many opportunities and advantages in the state. “We are a transparent, accountable, reform-minded government, and I’m leading a team of competent and dedicated professionals who are dedicated to this administration’s mission,” he declared.
“Everything we do in Ekiti has a plan in place. We are aware of the course we are taking, the action we have taken, and we are making every effort to the best of our state’s resources, but we also know that we are capable of more, which is why we have invited you to this meeting. We ask that you support us in any ways that your institutions can work in partnership and collaboration with us. Together, we can ensure that the people of Ekiti State receive decent governance.
“We are fully transparent, we have a state-mandated mechanism to guarantee project completion, and for those of you with any kind of program in Ekiti, you will be aware that we follow implementation protocols to the letter, which is indicative of our dedication to doing things correctly.” The Governor continued. The governor outlined initiatives taken by his administration to facilitate business operations in the state, such as the creation of a small claims court, the simplification of business permit procedures, contract enforcement, harmonizing tax laws to eliminate double taxation, and increased security, among other things.
We’ve made progress in terms of ease of doing business. The committee on the ease of doing business is led and chaired by myself. Contract enforcement and business permits have been expedited. We now have a physical and virtual one-stop shop that takes care of the worries of investors in the state. He also disclosed that improvements to road infrastructure are improving access to the state. Before the year is out, he said, the Ado Ekiti airport will be prepared for business use. It is currently going through the certification procedure with the appropriate aviation authorities.
He said that representatives from the Federal Airports Authority of Nigeria (FAAN) and the Nigeria Civil Aviation Authority (NCAA) were currently in the state to obtain the airport’s certification for commercial use. He also predicted that before the year is out, commercial flights would start operating at the airport. He claimed that by providing the state with access to both domestic and foreign markets, the airport project was designed to promote economic development and expansion.
Along with praising the governor’s consistent involvement, the heads and representatives of a number of other international development organizations, such as the British High Commission, United States Agency for International Development (USAID), United States African Development Foundation (USADF), Belgium Embassy, Japan Embassy, and UNiDOC, among others, urged strengthening of the commitment to the state. The state’s economic advantages and areas requiring cooperation were highlighted by State Commissioner for Budget, Economic Planning, and Performance Management Niyi Adebayo in his welcome speech.
Ten development agencies were alerted to each of the ten agenda items by the Director General of the Office of Development Partnerships, Biodun Oyeleye, during his summary of the six-pillar development plan of the Biodun Oyebanji Administration. Among the attendees were ambassadors, high commissioners, country directors, members of the State Executive Council, and officials of several international organizations and nations.
