THE Kayode Fayemi-led administration has taken on the responsibility to resuscitate Ekiti State’s ailing economy, moribund industries, low exports and infrastructural deficit by redirecting its focus from FAAC to agriculture, knowledge economy, commerce, and tourism development. In this regard, Governor Fayemi approached development partners and representatives of foreign governments, including China, India, Belarus, the World Bank, European Union Commission and African Development Bank, to bring increased trade, new markets, and sustainable development to Ekiti State. For instance, the State Government is at an advanced stage of discussions with the World Bank and African Development Bank (AfDB) for a sum of $100 million required for the construction of Ekiti Knowledge Zone(EKZ), Special Agriculture Processing Zone (SAPZ), Ado-Akure Road, and Ekiti Agro-Allied Cargo Airport. The proposed fund has a 10-year moratorium and 2 per cent interest. These projects are crucial to Governor Fayemi’s economic diversification plans and agribusiness investments policy to enhance food security, employment opportunities and empower women and youths in Ekiti State.
Why Ekiti knowledge zone (EKZ)?
To survive and thrive in today’s global economy, Dr. Fayemi has turned to knowledge as the primary product in which Ekiti State can trade successfully. These are fields such as teaching, IT, research, technical back-stopping/support, consulting, etc. The Fayemi-led administration is committed to harnessing the potentials of brilliant minds in the State by accelerating development, skipping less efficient routes and moving directly to more advanced stages such as a knowledge-based economy. A knowledge-based economy is a system of consumption and production that is based on intellectual capital rather than on physical inputs or natural resources. With the state’s reputation as being a leader in the production of superior intellectual capital, Ekiti can convincingly position itself as and effectively evolve into a knowledge-based economy. This is the rationale behind the creation of the Ekiti Knowledge Zone (EKZ). The EKZ is conceived to be a place where the State can match its global repertoire of Academic Experts and pioneers with platinum players in the industrial and scientific community, discover, nurture and support creative talents, cross-fertilize revolutionary ideas and produce innovative concepts, products and services that will positively impact the state, nation, sub-Saharan Africa and by extension, make conscious, holistic contributions to the advancement of humanity.
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Why Ekiti agro-allied cargo airport?
The cargo airport, a support enabler of economic growth, will enable Ekiti State to connect to distant markets and national/global supply chains in a swift and reliable manner. Large quantity of cash crops (cocoa, plantain, oil palm) and staple foods (yam, cassava, maize, rice) from the proposed Special Agriculture Processing Zone (SAPZ) will be transported within and outside the country at record speed to ensure the early-to-market advantage as well as providing mass employment and sustainable economic growth in the state. In order to enhance farmers’ productivity and transportation of products from the Special Agriculture Processing Zone, the State Government has entered into a partnership with the World Bank to undertake rehabilitation and tarring of 1000km of rural roads through the Rural Access to Market Programme (RAMP). This initiative will aid the reconstruction of farm settlements and provide basic amenities to facilitate cultivation and transportation of products after harvest to the Special Agriculture Processing Zone. Also, it will connect Ekiti rural communities to urban centers and market places.
One of the largest economic benefit of the Ekiti Agro-Allied cargo connectivity lies in its impact on the long-term performance of Livestock and milk production which have high market demand and record increased growth. To this end, Ekiti State Government has entered into a partnership with Promasidor Company for the revitalization of the moribund Ikun Dairy Farm and to utilize its potentials for job creation and local milk production. This partnership will attract a new investment of $5 million into Ikun Dairy Farm, which will be used to purchase equipment, provide the appropriate herd of cattle, and develop an out-grower scheme for providing feed for the cattle. It is estimated that production will be more than 10,000 litres of milk daily, which will require speedy and reliable mode of transportation for rapid delivery to local markets and exports. Promasidor Nigeria Limited (PNL) is willing to key into Ekiti State Government’s agricultural schemes to train, employ and educate the youths in the State to build and grow commercial agriculture. When the farm is fully operational, it will create hundreds of jobs directly, and indirectly and also improve the economy of the host community, surrounding communities and Ekiti State at large.
In order to open up new markets and boost exports through the air cargo transport, Governor Fayemi met with the hierarchy of corporate organizations, multinationals and development agencies to invest in modernized agriculture in Ekiti State. Belarus for example, is ready to collaborate with Ekiti State to ensure economic development through increased sustainable agricultural practices and food security in Ekiti state. Belarus manufactures 10 per cent of the world’s tractors and has a very reliable/efficient array of agric equipment/technologies for small, medium/large scale farms. This aligns with Fayemi’s plan to provide agric tools including tractors for small holder/large scale farms in Ekiti State. Belarus also has the best modern poultry production technology and is willing to partner with Ekiti State Government to establish similar production facility in Ekiti state. Discussions have been held with India’s High Commissioner to Nigeria, H.E Mr Abhay Thakur, on how Ekiti State can take advantage of India-Nigeria Bilateral Relations for trade, investment, and joint venture opportunities.
- Durodola is a Postgraduate Researcher at the University of Ibadan.
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