Ekiti state has secured a free trade zone status to be known as the Ekiti Knowledge Zone where education-based industries and technological companies could operate.
The approval by President, Major General Muhammadu Buhari (retd) was conveyed to the Minister of Industry, Trade, and Investment, Niyi Adebayo who had earlier requested for a FTZ for Ekiti state following the approval by the Nigeria Export Processing Zone Authority (NEPZA).
Buhari’s approval was contained in a letter by the Chief of Staff to the President, Ibrahim Gambari, stating that Ekiti Knowledge Zone located along Ado-Ijan Road, Ekiti State has been approved.
Gambari in the letter titled ‘Re: Recommendation for approval and designation of free trade zone status in Ekiti Knowledge Zone (EKZ) addressed to the Minister, Industry, Trade and Investment, said, ‘Kindly note that Mr President has granted free zone status approval for the Ekiti Knowledge Zone located along Ado-Ijan Road, Ekiti State on a parcel of land measuring approximately 208.949HA with coordinates 8042765.02m’N; 761’ 244.963m’ E, in accordance with Section 1 (1) of the NEPZA Act Cap. N107 Laws of Federal Republic of Nigeria 2004”.
Adesoji Adesugba, the Managing Director of NEPZA had in January, during a visit to Ekiti State Governor Biodun Oyebanji, hinted of the Federal Government’s desire to make Ekiti State a major free trade zone in Nigeria following its tradition of economic and knowledge.
The NEPZA boss had said, “I personally came to Ekiti State to show the commitment of the Federal Government to support the state in delivering an economic and knowledge-free zone and be the home of blockchain technology where technological companies and other industries that have things to do with education.
Ekiti is known for education and ideas innovation and this is where we are going to show the world that Nigeria has arrived. The first thing for us is to, first of all, get a Presidential declaration to make that place a free zone.
“Within the next 18 months, we would get so many industries, both virtual and on-sight there. As we speak, there are people who are already planning and working, so, we, on our own part, are to get this approval,” he had said.
Meanwhile, the Government of Ekiti State has lauded the federal government, stating the new status, will usher investments into the EKZ, which will be the first service-based special economic zone and a major driver of economic growth in the state.
Governor Biodun Oyebanji shortly after his inauguration last year, had stepped up strategic engagement with relevant agencies of the Federal Government on infrastructure upgrade and economic development of the state and the free trade zone status is one of the products of the interface, evidencing the government’s commitment to its development plan.
With the approval, a major condition for raising the necessary capital to achieve the zone’s objectives has now been met, and this is expected to attract the required capital later in the year, according to Yinka Oyebode, the Governor’s media aide.
“The Government of Ekiti State is committed to the infrastructure and economic development of the state and will continue to collaborate with relevant government institutions, private entities, and development partners to advance the socio-economic and infrastructure development of the State and ensure shared prosperity for all”, Oyebode noted.
Comments are closed.