Ekiti govt attracted over $100 million in investment since 2018 ― Olumilua

The Ekiti State Commissioner for Trade, Industry and Investment, Chief Muyiwa Olumilua, has revealed that the administration of Dr Kayode Fayemi has created a veritable platform to ease means of doing businesses to drive economic development with the attraction of over $100 million investment to the State in the last three years.

He said this was able to accomplish through the offering waivers to investors on payment of some statutory fees and partnership with private investment to boost the economy and ultimately boost the Internally Generated Revenue (IGR).

Olumilua spoke in Ado-Ekiti, the state capital on Tuesday, during a  workshop organised by the Ekiti State Development and  Investment Promotion Agency in partnership with Nigerian Investment Promotion Council for State officials on the Nigerian Investment certification programme for states (NICPS).

He said, “In the last three years, we introduced some reforms to make the establishment of a business easier, which included: granting of business premises waiver, Automation of PAYE registration, the introduction of online payments for construction and setting of High Court  minimum thresholds at six judgements per quarter, all these were put in place to attract new businesses to Ekiti.

“In totality, we have attracted over $100m to Ekiti since 2018 in agriculture and industry. Ikun Dairy Farm alone gulped $5m, which we achieved through partnership with Promasidor Nigeria Limited and we are making similar progress in other agro-based companies.”

He said the NIPC certification programme was introduced to support investors for business promotion, job creation and economic diversification.

The commissioner added that the government has been partnering with the intending investors via the provision of accurate information on business opportunities, allocation of buildings and sites that are investment-friendly and maintaining marketing standards that can boost their investments.

Special Adviser to the Governor and Director-General, Ekiti State Development and  Investment Promotion Agency, Mr Ayoola Owolabi, said the training was conceptualised to enhance the promotion of private investments in the state.

Owolabi stressed that improving the business environment is critical to Fayemi’s government policy thrust and that accounted for the establishment of the EKDIPA in 2019 with the mandate to work with Ministries, Departments and Agencies (MDAs) for effective delivery of the government’s focus in investment.

“This training deals majorly with the knowledge that will enhance contracts and registering of businesses. Through serious investment drive, we have worked for the resuscitation of Ikun Dairy farm in partnership with Promasidor Nigeria Limited while Ikogosi Warm Spring and Resort, Ire Burnt brick, Ekiti House in Abuja and Lagos are at advanced stages of Public-Private Partnership,” he said.

The South-West Zonal Head, Nigeria Investment Promotion Commission( NIPC), Mr Hassan Lawal, said the training showed the eagerness of the Fayemi’s government to develop investment for economic growth and development in the state.

Lawal said: “Working with stakeholders is very necessary because you can’t develop business alone. Our focus is to improve the IGR of the states. We don’t want them to rely alone on monthly federal allocation and this can only be achieved with investment promotion, where our  youth can be more engaged and    productive.”

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Ekiti govt attracted over $100 million in investment since 2018 ― Olumilua