The two game-changing projects, alongside the Ekiti International Agro Cargo Airport, the Ekiti Knowledge Zone, and the Ekiti Agric Processing Zone, form critical components of the state's 30-year Development Plan, which Governor Oyebanji Biodun Oyebanji has continued to

BREAKING: The African Development Bank Group African Development Bank Group has approved an $80 million to fund the Ekiti Knowledge Zone (EKZ) project. EKZ aims to foster digital innovation & entrepreneurship, create 26,000 jobs, and contribute about $14 million annually in net economic benefits.

Initiated by former Governor Kayode Fayemi, the EKZ project seeks to transform Ekiti into a knowledge-based economy. Under the leadership of Governor Biodun Oyebanji, the project is being expanded to position Ekiti as a hub for attracting and integrating ideas, talents & innovations.

EKZ, a federally supported and state-driven Special Economic Zone, offers fiscal incentives to draw private sector #investment into #digital #technology and the #knowledge economy value chains.

The project will attract technology firms & investors, establishing an SPV to pool #financing & manage Zone operations. EKZ aims to draw tech start-ups, business process outsourcing firms, fabrication & production companies, research institutes & corporate back-office operations.

The Ekiti Knowledge Zone’s #incubator program will support #startups with pre-seed and seed funding and provide skills-enhancement training in #ICT for youth in Ekiti and neighbouring states.

The total project cost is estimated at $94.8 million, with the Ekiti State Government providing $14.8 million in counterpart funding. EKZ targets more than 19,000 youth & aims to attract #investment commitments from at least 15 firms, generating revenues of about $10.8 million.

The Bank’s financing will leverage other development partners’ programs and bolster the development of world-class #infrastructure, including a 20-hectare green technology park and services infrastructure like roads, electricity, water supply, and wastewater treatment facilities.

The project will provide ICT training to youth, nurture innovation & enhance entrepreneurial skills. It advances govt-enabling policies & establishes the Ekiti State Innovation Fund to provide pre-seed & early growth stage funding for entrepreneurship, innovation, and investment.

Granted "free zone" status by the Federal Government, the Zone offers #incentives such as free #repatriation of capital, #profits, and #dividends for foreign #investors, rent-free land during construction, tax holidays, waivers on import/export duties, and expatriate quotas.

The Government of Ekiti State continues to lead as a model sub-national government with a commitment to creating an attractive destination for innovation, technology, work, living, and investment. #BAOGovernance #Ekiti #Innovation #Tech #Digital #Investment

EKITI GOVT LAUNCHES CLUSTER FARMING INITIATIVE FOR AGRICULTURAL INNOVATION AND MARKET ACCESS

Government of Ekiti State, led by Governor Biodun Oyebanji, plans to implement cluster farming during the upcoming planting season as part of its strategy to enhance productivity & provide better market access in 2024. The scheme is named "Operation Community-Commodity-Cooperative (CCC)."

Communities or cooperatives with unencumbered land are encouraged to submit an Expression of Interest through the State Ministry of Agriculture and Food Security or Extension Officers in all Local Government Areas.