Ekiti State Governor, Biodun Oyebanji, has pledged to leverage infrastructure investments to drive industrialisation, boost economic productivity and improve prosperity as he prepares for a second term in office.
Governor Oyebanji made the pledge on Tuesday while delivering his State of the State address to the House of Assembly in Ado Ekiti, ahead of his inauguration for another four-year term on Friday.
He said his administration would focus on agricultural industrialisation and a knowledge-based economy through the state’s Agricultural Processing Zone and Ekiti Knowledge Zone. He added that infrastructure and social amenities must be linked to economic activities to help residents escape poverty.
The governor said Ekiti’s gross domestic product rose from ₦2.4tn in 2019 to ₦4.6tn in 2023, representing 90 per cent growth, according to figures he attributed to the National Bureau of Statistics. He added that projections put the state’s GDP at about ₦8.8tn, while its contribution to Nigeria’s GDP increased from 1.3 per cent to 1.6 per cent.
Governor Oyebanji said trade contributed ₦1.7tn, or 37 per cent, to the state’s economy, while agriculture accounted for ₦1.05tn, or 23 per cent. He said his administration would continue prioritising both sectors while expanding aviation and tourism to diversify the economy.
On workers’ welfare, the governor disclosed that his administration had disbursed ₦11.7bn in gratuities to 3,642 state pensioners and paid ₦36.6bn in monthly pensions between October 2022 and August 2026. He also said ₦1.14bn had been used to clear pension arrears covering July to September 2018.
For local government retirees, Governor Oyebanji said ₦7.78bn had been paid in gratuities to 2,659 beneficiaries, while ₦35.7bn had been disbursed as monthly pensions to 11,524 retirees.
He reiterated his administration’s commitment to improving the state’s economy, saying the second term would focus on translating infrastructure investments into productive economic opportunities.