AN ADDRESS PRESENTED BY THE GOVERNOR OF EKITI STATE, DR.   KAYODE FAYEMI AT EKITI STATE ECONOMIC DEVELOPMENT          SU...
 THE EKITI STATE ATTRACTIONElementary Economics tells us that man primarily ventures to business tomake profit. In making ...
 In spite of security challenges                 in many parts of the Country,Ekiti is relatively secured. The State Gover...
 THE OPPORTUNITIESInvestment opportunities in Ekiti are in various degrees and dimensions. Theycut across all sectors.   i...
 v. Investment in Quarry &                       Real Estatevi. Education & training servicesvii. Healthcare servicesTHE P...
        As can be seen, the available                opportunities    in    Ekiti   for       investment with the assuranc...
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Governor fayemi's speech at the 2011 ekiti state economic development summit

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Governor fayemi's speech at the 2011 ekiti state economic development summit

  1. 1.   AN ADDRESS PRESENTED BY THE GOVERNOR OF EKITI STATE, DR. KAYODE FAYEMI AT EKITI STATE ECONOMIC DEVELOPMENT SUMMIT ON FRIDAY, 14TH OCTOBER, 2011PROTOCOLSIt is my great pleasure to welcome you all to this Summit aimed at redrawingthe economic map of Ekiti State, the Land of Honour. Let me make it veryclear right from the onset that the “Land of Honour” that Ekiti bears, is notonly a reflection of the beauty of her core values of honesty, integrity andhardwork, it is also aptly describes the vast opportunities that abound acrossthe State.I have said at different fora over and over that Ekiti has no business withpoverty looking at the great endowments and potentials at our disposal.When we mobilised our political machinery for a place in the Ekiti politicalfirmament, 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 saddleof governance, our resolve to make poverty history became more emboldenedby 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 Ekitioffers in terms of dividends on investment is uniquely better than in otherclimes. 1    
  2. 2.  THE EKITI STATE ATTRACTIONElementary Economics tells us that man primarily ventures to business tomake profit. In making profit, an averagely successful businessman preferswhere the ratio of investment to profit is lower. That exactly is the differencebetween investment in Ekiti and other places. As you are probably aware, thisState parades probably the highest number of graduates in various fields perthousand. The indigenes of the State are quite well educated, search forknowledge is our pride. The manpower for your industry or business concernsis available in quantity and quality. In essence, you have access to cheaplabour to a large extent.Since the advent of this administration in October, 2010, prevailing peace isvisible all over the State. This comely atmosphere becomes better understoodwhen viewed vis-a-vis the political stability in the State. This, to be candid, isa function of the legitimacy of this administration that also enjoys the goodwillof the people. From the length and breadth of the State, this government, ispeople’s government where everybody has a stake. Besides, Ekiti people aregenerally hospitable. They love visitors and have unassailable history ofprotecting visitors even at the risk of sacrificing their own lives. The ultimatedeath of our hero, Col Adekunle Fajuyi who had to lay down his life to protectlate Major General Aguiyi Ironsi who was his guest in Ibadan in 1967 points tothis fact clearly. May I emphasise that that incident was not an isolated case.It is the Ekiti spirit that is still working in us. 2    
  3. 3.  In spite of security challenges in many parts of the Country,Ekiti is relatively secured. The State Government has continued to support allsecurity agencies with vehicles, communication gadgets and in so many otherareas to ensure an effective community policing and law enforcement.Recently, a Crime Detection System located in the Police CommandHeadquarters and some other designated Divisional Police Offices waslaunched to combat crimes frontally.It may interest you to note that the major policy direction of this governmentis to establish enduring institutional framework upon which its programmesare anchored. In demonstrating our clear and honest intentions, particularlyin attracting investors, among the early bills passed by the State Legislaturewhich have become State Laws upon my assent are Fiscal Responsibility Lawand Freedom of Information Law. These structures are enough assurance togenuine 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 ourLaws.Ekiti economy has also been further boosted by the large presence of financialinstitutions doing businesses in the state. These range from banks, insurancecompanies to stock brokers among others. As a matter of fact, the CentralBank of Nigeria has an office in Ado-Ekiti, the state capital.For many of the opportunities in the State, the raw materials are readilyavailable in large quantities. 3    
  4. 4.  THE OPPORTUNITIESInvestment opportunities in Ekiti are in various degrees and dimensions. Theycut 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 4    
  5. 5.  v. Investment in Quarry & Real Estatevi. Education & training servicesvii. Healthcare servicesTHE POSSIBLE CHALLENGESThe Nigerian national economy in which Ekiti State situated is susceptibleto many shocks and alternating variables. Our main challenges are in thearea of poor power supply and bad road network. You would agree thatthese are national problems. Nonetheless, the state government has notfolded its arms even in these regard.Before this administration marked its 100 Days in office, 100 units oftransformers were procured and distributed to our towns and villages toameliorate the power problems. We are expecting the delivery of additional50 transformers and 50 feeder pillars any moment from now in the bid toimprove on the power supply in the State. With the installation of theseequipment, we would be able to benefit fully from the 132KV Transformeralready installed in the State.On the bad road network, the State Government, in pursuance of its 8Point Agenda, has awarded contracts for the construction of eight newroads on which work would commence as soon as the rain subsides. Wehave also got assurances from the contractors that the ongoing roadprojects they are handling would be delivered as scheduled.CONCLUSION 5    
  6. 6.   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.   6    

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