The Executive Governor of Ekiti State, His Excellency Dr. Kayode Fayemi has restated his determination to accelerate the economic growth and sustainability agenda of the state as part of efforts to drive financial independence.
During a welcome address at the Ekiti State Economic Development & Investments Summit tagged: “Fountain Summit” held in the state capital, the governor, who lauded the implementation of the nation’s Economic Sustainability Plan aimed at re-calibrating the economic landscape of the country under the supervision of the Vice President, Yemi Osinbajo, pledged his resolve to continue to work assiduously to accelerate the economic growth of the state in fulfillment of the mandate of his administration.
Poised to herald a dynamic shift where the state no longer depends on federal allocation to finance its numerous projects, Dr. Fayeyi highlighted some impeccable and noteworthy initiatives that have set the state on a path of financial independence.
In his words: “We have also focused on increasing Internally Generated Revenue (IGR) significantly. When we returned to government, the state was earning an average of N450 million averagely per month, which has now gone up by 55% to N800 million. We now have a goal to attain N1 billion per month in 2021, which we have successfully achieved twice. Our roadmap to sustaining this by is fully implementing the autonomy of our Internal Revenue Service, to complement the digitization of revenue collection launched last year.”
Speaking further on the economic feats achieved by his administration, the number one citizen revealed that the state has made significant progress with its Ekiti Knowledge Zone, Special Agro-Industrial Processing Zone, and Cargo Airport projects designed to increase economic activity in the state.
Highlighting other areas that have received attention as part of effort to stimulate economic growth in the state, the governor noted that his administration has made incredible progress in improving the road network connecting economic clusters, improve education and healthcare infrastructure, security; power, environment and climate issues; water and sanitation, among others.
According to him, the state galvanized the support of the private sector by making it an attractive destination for investors and has established a new College of Agriculture and Technology for the training and production of extension workers to provide highly skilled manpower for these companies.
Mr. Governor, who reaffirmed his commitment to institutionalizing the summit by taking necessary steps to ensure it continues beyond his administration, disclosed that a bill has been signed to establish the Economic Development Council, tasked with the job of planning and implementing this summit to ensure its legacy outlives his administration.
The summit was well attended by top political and economic leaders, captains of industries had in attendance, the Vice President of the Nigeria, Yemi Osinbajo and the governors of Edo, Lagos, Kaduna and Gombe States.
