Ekiti Governor, Biodun Oyebanji, has commenced the payment of N1.45 billion in compensation to 195 individuals affected by land acquisition for the implementation of the Ekiti Knowledge Zone (EKZ) project.
The beneficiaries were drawn from the Aro, Araromi, and Ijan communities in Gbonyin local government area of the state where the project is being sited.
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Speaking at the disbursement event held at the Governor’s office in Ado-Ekiti, the state capital on Tuesday, Oyebanji described the EKZ as a cornerstone project designed to harness the state’s intellectual capital to drive inclusive economic growth, youth empowerment, and job creation.
Presenting the cheques to the beneficiaries, the Governor added that EKZ is projected to deliver over 14,000 jobs, particularly for the youth.
This, according to him, is a clear step toward tackling unemployment and building a sustainable future for future generations.
Oyebanji said, “As a State celebrated for its intellectual capital, we have chosen to leverage this unique strength to drive inclusive economic growth and create a vibrant hub for innovation and service-driven industries.”
Emphasizing that the Ekiti Knowledge Zone does not stand alone, the Governor explained that his administration has put in place critical supporting infrastructure to ensure its viability and long-term success which include the Ekiti State Agro-Allied International Cargo Airport, Ekiti Ring Road Project, among others.
He further explained that the state government has also engaged Green Engagement Limited as Consultant to ensure a just and transparent process in implementing the Resettlement Action Plan (RAP) for the Project Affected Persons.
Governor Oyebanji also addressed public misconceptions regarding the financing of the project, clarifying that although the Federal Government guaranteed an $80 million loan on behalf of the state, the funds were not disbursed directly to the state government.
“The African Development Bank (AfDB), in partnership with the Ekiti State Development and Investment Promotion Agency (EKDIPA), oversees the procurement process and pays contractors directly. The state government neither receives nor handles the loan funds,” he emphasized.
Speaking further, he said, “As a State celebrated for its intellectual capital, we have chosen to leverage this unique strength to drive inclusive economic growth and create a vibrant hub for innovation and service-driven industries. The EKZ is projected to deliver over 14,000 jobs, particularly for our youth, a clear step toward tackling unemployment and building a sustainable future for generations to come.
“As a show of appreciation and in line with our promise of justice and transparency, I am pleased to announce that the total compensation package initially assessed at ₦1,118,852,813.00, has now been reviewed to reflect current economic realities and stands at N1,450,000,000.00, which is being disbursed today”
In her remarks, the Director General, Ekiti State Development and Investment Promotion Agency (EKDIPA), and EKZ Project Coordinator, Ms Lolade Olutola expressed government’s commitment to ensuring that the future of Ekiti state is built on its strength of knowledge, creativity, and resilience.
The EKDIPA boss also affirmed that the shared value of fairness, transparency, and inclusion of the administration is not being left out in the compensation process, adding that the event reflected the commitment of the administration to ensure that no one is left behind in Governor Oyebanji’s developmental agenda.
Also in his goodwill message, the Onijan of Ijan Ekiti, Oba Aladesuyi Adebanji, who expressed his profound gratitude to the Governor for fulfilling his promise and for prioritizing the welfare of the citizens, described the EKZ project as a complete solution to the problem in the country intellectually, technically and all-round development.
Speaking on behalf of the beneficiaries, Mr Bankole Ojo thanked the Governor and assured him of their continued support for the implementation of the project.
The event was graced by the Speaker, Ekiti State House of Assembly, Rt. Hon. Adeoye Aribasoye; Secretary to the State Government, Prof Habibat Adubiaro, Chief of Staff, Mr Niyi Adebayo, Commissioner for Trade, Industry, Investments and Cooperatives, Mrs Tayo Adeola, amongst others.
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