Free Trade Zone Status For Ekiti: Oyebanji’s Govt Commends FG

By Stephen Gbadamosi

The Biodun-Oyebanji-led government in Ekiti State said it has welcomed with excitement and a deep sense of appreciation, the news of the Free Trade Zone status granted the Ekiti Knowledge Zone (EKZ) by the Federal Government.

Minister of Industry, Trade and Investments, Otunba Niyi Adebayo, had, in a statement, confirmed the Federal Government’s approval for the Free Trade status.

He said the approval was a necessary condition for inflow of investments into the EKZ, which would be the first service-based special economic zone and a major driver of economic growth in the state.

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Reacting, the government of Ekiti State said it was grateful to President Muhammadu Buhari “for graciously approving the Free Trade Zone status. It also extended appreciation to the Minister of Industry, Trade and Investments, Adebayo; and the Managing Director of the National Export Processing Zones Authority (NEPZA), Professor Adesoji Adesugba, and his team for their support.

Recall that Governor Oyebanji stepped up strategic engagement with relevant agencies of the Federal Government on infrastructure upgrade and economic development of the state, shortly after his inauguration last year. The approval for the Free Trade Zone status is one of the products of the interface and evidence of the government’s commitment to its development plan as well at the continuity agenda.

“While the state government is appreciative of the Federal Government’s gesture, it congratulates the people of the state for the landmark achievement,” urging investors and young professionals to take advantage of the EKS.

It said with the approval, a major condition for raising the necessary capital to achieve the zone’s objectives had now been met, “and we expect to attract the required capital later in the year.”

“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 ensuring shared prosperity for all,” it said.

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