Fayemi Restates Commitment To Transformation Of The State’s Economy

March 25, 2013

Ekiti State Governor, Dr. Kayode Fayemi has re-stated his vision to transform the rural-based economy of the State into a knowledge-based economy patterned after the developed nations of the world.
Dr. Fayemi stated this at the Economic Investment Stakeholders Forum organized by the Ministry of Trade, Investments, and Innovation in Ado-Ekiti.

The Governor, who spoke through the Secretary to the State Government, Dr. Ganiyu Owolabi, stated that the government would exploit the strategic location of the state between Lagos, the Nation’s economic capital and Abuja, the Administrative Capital in such a manner that the state would be a destination point for all investors.
He also stated that the vision for the state would also foster private sector participation in policy setting to develop the state’s economy using the Botswana, Mauritius, Malaysia and Australia as models.

Governor Fayemi stressed that for the state to generate revenue necessary for development, a Special Economic Fund has been established to improve the state’s internally generated revenue and reduce overdependence on the Federal allocation.
The Governor said that the Ministry of Trade, Investments and Innovation has been mandated to work closely and regularly with the private sector to ensure tangible ways for rapid development, adding that it was rebranded to achieve desired goals.
Dr. Fayemi who decried the low level of private investment in the state despite the available human resources, called on private sector to cooperate with the state government in its bid to transform the state economically.

In his address, the Commissioner for Trade, Investments and Innovation, Mr. Debo Ajayi stated that the State Government was working towards addressing the issues of the low Internally Generated Revenue (IGR) in the State, adding that the geometric increase in unemployment rate of youths as well as lack of industrial growth coupled with low level of private investment in the state would be addressed through the ongoing transformation agenda of the state government.
Mr. Ajayi who stated that the State Government would not leave any stone unturned to transform the State, called for the continued support of all stakeholders and development partners to combat poverty and achieve economic development.

Last modified: March 25, 2013

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