Ekiti State Eyes Tech Dominance With $80 Million AFDB Loan Approval For Knowledge Zone Development.

Ekiti State Eyes Tech Dominance With $80 Million AFDB Loan Approval For Knowledge Zone Development.

In a groundbreaking move, Ekiti State is on the verge of becoming West Africa's leading tech hub following the African Development Bank's (AfDB) endorsement of an $80 million loan for the Ekiti State Knowledge Zone (EKZ).

Ekiti State Eyes Tech Dominance With $80 Million AFDB Loan Approval For Knowledge Zone Development.

This significant loan approval not only underscores the State’s Development Plan's strategic vision but also showcases the advantages of sustained governance. It stands as a pivotal step toward realizing the shared job creation goals of both the State and Federal Government.

Governor Biodun Oyebanji expressed his enthusiasm, stating, "This historic moment for Ekiti State is a testament to our commitment to fostering innovation, job creation, and sustainable economic growth. EKZ is not just a project; it's a commitment to a better future for our State and Nigeria."

Acknowledging the collaborative effort, Governor Oyebanji extended gratitude to the AfDB, President Bola Ahmed Tinubu, the Federal Executive Council, the Ministry of Finance, and the Coordinating Minister of the Economy, along with all other stakeholders who played a crucial role in the approval process.

The Commissioner of Finance for Ekiti State, Mr. Akintunde Oyebode, emphasized the transformative impact of EKZ on the State's economic landscape. He stated, "This funding will play a crucial role in realizing our vision for EKZ—a world-class hub attracting premier local and international companies, unlocking value for investors and businesses."

Oyebode stressed that EKZ goes beyond physical infrastructure, aiming to build communities and generate numerous job opportunities, particularly for women and youth, while contributing to the State's overall progress.

Mrs. Lolade Oke-Olutola, the Director-General of Ekiti State Development and Investment Promotion Agency (EKDIPA), declared, "We are building a legacy of excellence with EKZ. Join us in transforming this fountain of knowledge into a fountain of innovation."

The immediate focus now is to meet the conditions for drawing down the approved funds, ensuring the swift completion of EKZ while adhering to globally benchmarked standards. With a groundbreaking ceremony scheduled for 2024, the Ekiti State Knowledge Zone will span 209 hectares strategically located near the newly constructed airport and a pool of highly skilled talent.

Yinka Oyebode, CPS/Special Adviser (Media) to the Governor, Ekiti State, expressed confidence in EKZ's potential. "With the support of key stakeholders, the State is confident that EKZ will not only be a beacon of innovation but also a testament to the power of collaboration in driving economic growth and prosperity."