Ekiti GDP grew by 8 percent in five years – Budget commissioner

The Ekiti State Commissioner for Budget and Economic Planning, Femi Ajayi has disclosed that the State’s Gross Domestic Product (GDP) grew from N1.36 trillion to N1.88 trillion, translating to a whopping 8.02% growth increase between 2017 and 2022.

The Commissioner who disclosed this while featuring on a simulcast radio programme tagged ‘Ekiti Today/Ekiti Loni’ said the growth percentage was a result of the ease of doing business environment created by the state government.

Ajayi who reiterated the commitment of the Biodun Oyebanji-led administration to a reliable socio-economic growth stated that the GDP which was computed last year already showed that the economy of Ekiti State is bigger than that of Sao Tome and Principe as well as some countries in West Africa.

He noted that the current administration of Governor Oyebanji is leaving no stone unturned in ensuring that adequate infrastructure is put in place while the agriculture sector which is the mainstay of the State’s economy is given more attention in order to grow the economy better than what it currently is.

According to him, “In 2017, the GDP of this State was calculated and as of 2017 we had N1.36 trillion. As at 2022 when another GDP was calculated, we had 1.88 trillion. So the economy of Ekiti as it is today is bigger than Sao Tome and some countries in West Africa.

” So Ekiti is growing and by the time we are calculating GDP under this administration, because a lot of money has gone into agriculture, and now agriculture has surpassed mere service and is now a booster of GDP. RAAMP and FADAMA are doing a lot for our rural roads and these will have impact on the agric sector.”

Attributing the state’s economic growth to the collaboration between the government and citizens, the Commissioner said the bottom-top approach in the budgeting process which is citizen-driven has helped the government to take the right step in the right direction.

Ajayi disclosed that about 90% of ongoing projects across the State would be completed before the end of 2025 as the Oyebanji-led administration is striving hard to serve Ekiti people well and deliver the dividends of good governance to them.

He listed the successes recorded by the administration in each of its six-pillar agenda; assuring that the government would not rest on its oars.

“If we check the 2024 budget, we can see that the state performed well. If we said we wanted to do 10 things and ended up doing three, then we performed woefully but if we do 8 out of 10, it means we have done well. The Government of Mr Biodun Oyebanji has earned trust from the people of the State by turning the 2024 budget into realistic development across the State.”

“The government does not sit in the office and allocate resources to projects but meets with citizens at budget engagement meetings where the people tell the Governor what they want and then the government takes it up and come up with a budget. So invariably, the budget was done based on the need of the people. What we did last year gave us the courage to come up with the 2025 budget which was christened Budget of Sustainable Impact, meaning that the impact made through the 2024 budget will be sustained in 2025”, Ajayi said.

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