Modupe Gbadeyanka
By Modupe Gbadeyanka
Governor Kayode Fayemi of Ekiti State has been commended for his efforts at revitalising economy of the small civil servant state, which has huge tourism potentials.
Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, who made this commendation, said he was impressed with the improvement in the Gross Domestic Product (GDP) of the state; with a 63 percent economic growth which were necessitated by the projects executed by Mr Fayemi between 2011 and 2014.
Last week, the Governor was at the NSE in Lagos to present his Investing in Ekiti: Facts Behind the State Economy and was given the honour to beat the closing gong to signal end of the trading session on the exchange.
Mr Onyema, during his speech, described Mr Fayemi as a reform-minded leader, hailing him for his commitment to providing durable infrastructure and employment opportunities for the state.
He said the governor had created a roadmap for other political leaders to follow in their quest to deliver the goods to the people.
“We acknowledge your Excellency’s progressive leadership and reform-minded approach in managing the economy of Ekiti.
“Your strategies towards revitalising the agricultural, manufacturing, mining, trade and tourism sectors, which together account for 75 percent of the state’s GDP, are also commendable.
“For instance, you have increased the proportion of capital spending in the 2019 budget to 44 percent from 31 per cent in 2018; and channelled budgetary resources toward pro-growth projects.
“We recognise that to build a sustainable economy for the estimated 3.5 million citizens of Ekiti, supported by vibrant sectors, both state-owned and private sector enterprises will require access to right-sized capital,” Mr Onyema added.
In his address, the Ekiti Governor called on investors to take advantage of the improved infrastructure, business-friendly policies and adequate security provided by his government to exploit the state’s economic prospects.
The Governor said his administration has put in place policies and legislations that will ensure that the state becomes one of the top three states in ease of doing business, adding that Ekiti State was rated number four in ease of doing business in 2014 when he left office, before sliding to the 32nd position thereafter, assuring the business community that the state would soon return to the number three spot.
Mr Fayemi said the efforts of his government had started yielding positive results with the return of development partners as well as the resuscitation of some moribund businesses like the Gossy Water, noting that three banks that left the state owing to unfriendly business policies of the immediate past administration have return.
“We are starting to regain the confidence of investors by reactivating those laws which we put in place in my first administration to create an enabling environment for investment to thrive.
“We have also passed the law establishing the Ekiti State Development and Investment Promotion Agency (EKDIPA) that will drive our Ease of Doing Business reforms and provide investors with a one-stop shop to deal with investment related matters,” he said.
On the state’s partnership with the NSE, the Governor expressed optimism that the continued partnership would help the state in unlocking investment in its focus sectors and also optimising state-owned enterprises.
Mr Fayemi explained that his efforts as governor is aimed at making Ekiti an attractive destination for investors, delivering sustainable economic growth, putting people to work and lifting the citizens out of poverty.
He highlighted the core areas where the state seeks partnership as including agriculture, tourism and the knowledge zone, a project which is designed to ensure infrastructure, power, transport, housing, recreation, medical and other services are available round the clock.
“We have renewed our focus on peace and security, which is the foundation of any economic development; and started investing in developing the infrastructure required to make Ekiti a competitive destination for business.
“We are quite concerned about the increasing spate of violence against ordinary citizens and it is the duty of the government to provide security and welfare of the citizens.
“The steps we have taken since we assumed office is to work in collaboration with neighbouring states because those things just cut across, particularly as it affects kidnapping and banditry to make the highways safe,” he said.
