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AN ADDRESS PRESENTED BY THE GOVERNOR OF EKITI STATE, DR. KAYODE FAYEMI AT EKITI STATE ECONOMIC DEVELOPMENT

SUMMIT ON FRIDAY, 14TH OCTOBER, 2011

PROTOCOLS

It is my great pleasure to welcome you all to this Summit aimed at redrawing

the economic map of Ekiti State, the Land of Honour. Let me make it very

clear right from the onset that the “Land of Honour” that Ekiti bears, is not

only a reflection of the beauty of her core values of honesty, integrity and

hardwork, it is also aptly describes the vast opportunities that abound across

the State.

I have said at different fora over and over that Ekiti has no business with

poverty looking at the great endowments and potentials at our disposal.

When we mobilised our political machinery for a place in the Ekiti political

firmament, we were clear in our mission to put poverty to flight in the land.

When, by the grace of God, we reclaimed our mandate and got to the saddle

of governance, our resolve to make poverty history became more emboldened

by the clearer picture of massive opportunities that dot the landscape of Ekiti.

It is therefore not a cheap campaign to declare with all vigour that what Ekiti

offers in terms of dividends on investment is uniquely better than in other

climes.

 

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THE EKITI STATE ATTRACTION

Elementary Economics tells us that man primarily ventures to business to

make profit. In making profit, an averagely successful businessman prefers

where the ratio of investment to profit is lower. That exactly is the difference

between investment in Ekiti and other places. As you are probably aware, this

State parades probably the highest number of graduates in various fields per

thousand. The indigenes of the State are quite well educated, search for

knowledge is our pride. The manpower for your industry or business concerns

is available in quantity and quality. In essence, you have access to cheap

labour to a large extent.

Since the advent of this administration in October, 2010, prevailing peace is

visible all over the State. This comely atmosphere becomes better understood

when viewed vis-a-vis the political stability in the State. This, to be candid, is

a function of the legitimacy of this administration that also enjoys the goodwill

of the people. From the length and breadth of the State, this government, is

people’s government where everybody has a stake. Besides, Ekiti people are

generally hospitable. They love visitors and have unassailable history of

protecting visitors even at the risk of sacrificing their own lives. The ultimate

death of our hero, Col Adekunle Fajuyi who had to lay down his life to protect

late Major General Aguiyi Ironsi who was his guest in Ibadan in 1967 points to

this fact clearly. May I emphasise that that incident was not an isolated case.

It is the Ekiti spirit that is still working in us.

 

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In spite of security challenges in many parts of the Country,

Ekiti is relatively secured. The State Government has continued to support all

security agencies with vehicles, communication gadgets and in so many other

areas to ensure an effective community policing and law enforcement.

Recently, a Crime Detection System located in the Police Command

Headquarters and some other designated Divisional Police Offices was

launched to combat crimes frontally.

It may interest you to note that the major policy direction of this government

is to establish enduring institutional framework upon which its programmes

are anchored. In demonstrating our clear and honest intentions, particularly

in attracting investors, among the early bills passed by the State Legislature

which have become State Laws upon my assent are Fiscal Responsibility Law

and Freedom of Information Law. These structures are enough assurance to

genuine investors that Ekiti State is safe in the eyes of the law to do business.

This is because every legitimate investment is adequately protected by our

Laws.

Ekiti economy has also been further boosted by the large presence of financial

institutions doing businesses in the state. These range from banks, insurance

companies to stock brokers among others. As a matter of fact, the Central

Bank of Nigeria has an office in Ado-Ekiti, the state capital.

For many of the opportunities in the State, the raw materials are readily

available in large quantities.

 

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THE OPPORTUNITIES

Investment opportunities in Ekiti are in various degrees and dimensions. They

cut across all sectors.

i. Agriculture.

a. Agro-processing capability in its infancy: e.g. oil palm, cocoa,

cassava, rice, yam, maize, Plantain, Banana, Coconut, Coffee,

Cashew, Pineapple and Sugarcane

b. Fishery

c. Poultry

d. Small livestock: Pigs, Goats, Rabbits, snails, frogs, bees, others

e. Forestry/ Afforestation

f. Processing, packaging and marketing of agricultural products

g. Timber extraction and primary processing sector

h. High potential returns to timber sector coordination and upgrade

combined with conservation and renewal of still significant forest

resources

i. Provision of storage facilities. Many farm produce are destroyed

because of the lack of these facilities.

ii. Tourism resources

a. Cold and Warm springs complex

b. Waterfalls.

c. Traditional sites (caves, mountains, palaces etc)

d. Tourism infrastructure – hotels, event centres, parks etc

iii. Unexplored/unexploited minerals, non-timber forest products

iv. Transportation Development

 

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v. Investment in Quarry & Real Estate

vi. Education & training services

vii. Healthcare services

THE POSSIBLE CHALLENGES

The Nigerian national economy in which Ekiti State situated is susceptible

to many shocks and alternating variables. Our main challenges are in the

area of poor power supply and bad road network. You would agree that

these are national problems. Nonetheless, the state government has not

folded its arms even in these regard.

Before this administration marked its 100 Days in office, 100 units of

transformers were procured and distributed to our towns and villages to

ameliorate the power problems. We are expecting the delivery of additional

50 transformers and 50 feeder pillars any moment from now in the bid to

improve on the power supply in the State. With the installation of these

equipment, we would be able to benefit fully from the 132KV Transformer

already installed in the State.

On the bad road network, the State Government, in pursuance of its 8

Point Agenda, has awarded contracts for the construction of eight new

roads on which work would commence as soon as the rain subsides. We

have also got assurances from the contractors that the ongoing road

projects they are handling would be delivered as scheduled.

CONCLUSION

 

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As can be seen, the available opportunities in Ekiti for

investment with the assurance of profits far outweigh the militating factors.

I want to stress the willingness of the government to continue to provide

the enabling environment for businesses to be successfully conducted. Part

of the incentives the State Government is offering are periods of

moratorium, early issuance of land documents including the Certificate of

Occupancy among others. I therefore wish to call on you take the

opportunities that are available and do your business in a fertile land. It

may encourage you to note, distinguished ladies and gentlemen, that

many development partners including the United Nations Development

Programme (UNDP), United Nations Children’s Fund (UNICEF), DFID, the

World Bank, European Union (EU) and USAID that hurriedly closed shops

in Ekiti State in the recent past are fully back now because of the

prevailing encouraging environment. This is a pointer that any investment

in Ekiti State is a right and worthwhile decision on the part of the investor.

It is on this note I wish to present the opportunities of Ekiti land to you for

conversion to productive economic ventures.

Thank you and God bless.