Ekiti to tow diversified economy path with over $100m investments

  • To revive Ikun Dairy Farm

EKITI STATE Government has identified a diversified economy and a highly skilled and motivated workforce as the catalyst to making Ekiti a destination of choice to investors to drive diverse development and growth the state needs.
Commissioner for Information, Tourism and Values Orientation, Aare Olumuyiwa Olumilua, made this known while speaking at a press
conference to kick start activities marking the first year anniversary of Governor Kayode Fayemi with the theme, “Walking the
talk…Restoring values, Enhancing potential.”
Aare Muyiwa said government was already into partnership with some private investors and development partners that would eventually
attract to the state over $100million to finance Ekiti Knowledge Zone, Special Agriculture Processing Zone, Ado-Akure Road and Ekiti Airport as well as $5million to revive the moribund Ikun Dairy farm.
According to him, “These projects will ensure that Ekiti is the hub of the service and knowledge industry in Nigeria, cement our place as a
leading agricultural hub, and also improve access and connectivity for business and recreational travelers”.
Olumilua added “Other projects include the World Bank funded NEWMAP and RAAMP projects which will improve water supply to Ekiti people, and open up rural access roads to enable the easy evacuation of our farm produce. Very soon, we will seek for investors for three of our state owned assets; Ikogosi Warm Spring and Resort, Fountain Hotels, and Ire Clay Bricks Limited. You may all wish to show your interest. We are confident that our professional approach will attract credible and worthy investors.
“Ekiti State is about to conclude a joint venture partnership with Promasidor Nigeria Limited, to revive the moribund Ikun Dairy Farm.
The Shareholder Agreement for the new company to be formed to manage the Dairy Farm will be signed this month with Promisador as the core investor, while the state will retain a minority interest, through its investment company, Fountain Holdings. This will attract a new investment of $5 million into Ikun Dairy Farm, which will be used to buy equipment, provide the appropriate herd of cattle, and develop an Out Grower Scheme for providing feed for the cattle.”
He affirmed that government would continue to invest heavily in education and healthcare of the people to ensure a skilled and healthy
workforce. He explained that human capital forms the basic requirement to attract investments and other rewards to the state, adding that the state’s development plan is hinged on the need to lay a solid foundation for sustainable and inclusive economic growth.
The Commissioner assured that government would leverage on the state’s competitive advantages and history by focusing on agriculture and agri-business, knowledge and economy services, tourism and hospitality as well as solid minerals, saying it would prioritize development of the Ekiti Knowledge Zone, and the Special Agriculture Processing Zone that will make Ekiti the destination of choice for investors.
“Our people still remain our greatest asset, and we will continue to invest heavily in education and healthcare, to ensure that we have a
skilled and healthy workforce. Human capital is one of the most important requirements to attract investments and our goal is to improve both education and healthcare outcomes by ensuring that our people get the requisite quality contemporary education, which will qualify them to take up the jobs that will be created by new investments in the state.
“Building a diversified and inclusive economy, leveraging our competitive advantages and history by focusing on agriculture and
agri-business, knowledge and economy services, tourism and hospitality, and solid minerals while we will not ignore other sectors, these sectors will be the main drivers of growth. Our infrastructure spending will be focused on building the right enablers for the sectors to grow our economy and be the engine of job creation,” he stated.

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