Overview of economic & development summit

OFFICE OF THE DEPUTY GOVERNOR

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Overview of Economic & Development Summit presented by

Her Excellency Mrs. ‘Funmi OLAYINKA Deputy Governor of Ekiti State, Nigeria,

At the Inaugural edition of the Ekiti Economic and Development Summit, held in Ado-Ekiti between October 14 and 15, 2011.

PROTOCOLS Distinguished great thinkers and participants at this inaugural edition of the Ekiti Economic and Development Summit, I welcome you to the Land of Honor. Ekiti indigenes believe strongly in what we are able to do for ourselves, and the dignity of labour. As you have been informed by the Special Adviser to the Governor on Planning & MDGs, the theme of this Economic and Development meeting is Harnessing Opportunities for Sustainable Development. The summit is primarily targeted at raising the economic and development stake of our dear state for the ultimate growth of our people. My job is to give an overview of the two day programme and I make bold to tell all of us here present that the purpose is to demonstrate in practical terms, the dream for a greater tomorrow as packaged by the Dr. Kayode Fayemi-led administration in Ekiti State.



May I begin this overview by informing you that we have arranged to have Parallel Dialogue Sessions to explore the various opportunities in Ekiti State for foreign and indigenous entrepreneurs. It is going to be an interactive session between Dr. Kayode Fayemi, the Executive Governor of Ekiti State, and the Commercial Attaches of Embassies in Nigeria and CEOs. In the course of this summit, we will also be examining the crucial topic, “Development Partners and Economic Development in Ekiti State: Progress and Framework for future Collaboration, as well as, the “Imperative of relevant and forward looking legislation in support of economic growth and development”. This session of the summit is aimed at identifying critical legislative gaps to be filled in attaining the economic ambitions of our dear state. There is going to be a session on framework for and available opportunities in Public Private Partnership towards Infrastructure Development in Ekiti State.In this session, we shall highlight the framework and opportunities for public-private partnership in Ekiti State, dwelling specifically on infrastructure development plans for the State Government and highlighting, the opportunities for Private Sector Participation. Our industry in Ekiti as you all know is education. Though the state’s heritage in that sector has been badly threatened, we still believe that this sector has a clear



and compelling capacity to stimulate and sustain unrivalled economic development and growth, if properly harnessed. Therefore, we shall be examining “Education as a driver of Economic growth and Development: Our Strategy and Opportunities”. This forum is going to focus on the strategy to involve private capital in the regeneration of our educational heritage. Another of our strength as a people is in the area of agriculture. This government has taken major steps in reviving our collective pride in this sector and as such this summit is also looking for ways of stimulating and sustaining agric business in Ekiti State. Since the primacy of Agriculture to the economy in the State remains undisputed, our purpose is to, during this forum to examine how Public Policy and Private Capital can combine to stimulate and sustain commercial agric business in the Land of Honour. We will consider Framework for and Opportunities for sustainable Private Sector Participation in Solid Minerals and Tourism Development in Ekiti State. We will also be looking at “State-owned enterprises as a vehicle for economic development: Framework for Private Participation”. As a way of laying solid foundation for the kind of economy that is befitting our state, we will do a thorough



study of how the Solid Minerals development presents an opportunity for industrial development of our state. In much of Nigeria, the Solid Minerals Industry remains underdeveloped and characterized by small scale, fragmented attempts at exploitation. Besides, the mineral deposit, Ekiti offers a serene environment and an array of tourist attractions that could position tourism as one of the major drivers and a catalyst for the development of the State. Under this session therefore, we will examine the framework for stimulating private participation, and explore available opportunities in the solid minerals and tourism sectors, in this state. It is on record that over the years, the government of Ekiti State has built an impressive portfolio of State-owned enterprises, but regrettably, their performance has not lived up to expectations. We will therefore be doing an in depth review of the framework for ownership and management of these enterprises, and explore opportunities for private sector collaboration in realizing the ambitions for the assets and organizations in this sector. Distinguished ladies and gentleman, a plenary Session will be held on Regional Integration and Economic Development of South-Western Nigeria. This session will examine opportunities for exploiting the economy of



scale in the six-to-nine contiguous/co-terminus states of the South-Western region, and is to be discussed under the framework o f a new DAWN (Development Agenda for Western Nigeria) document. Thank you all for listening as I wish all of us a successful deliberation.

H.E. MRS. ‘FUNMI OLAYINKA DEPUTY GOVERNOR OF EKITI STATE, NIGERIA Kaduna, Kaduna State, NIGERIA September 12, 2011

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Overview of economic & development summit