Adedapo Adesanya
By Adedapo Adesanya
The African Development Bank (AfDB) said it has secured $110,000 in funding for Ekiti State to facilitate the development of the State Electricity Priority Plan (SEPP).
The Ekiti State Commissioner for Infrastructure and Public Utilities, Mr Bolaji Aluko, made this known in Ado Ekiti and stated that the funds were secured from the Sustainable Energy Fund for Africa (SEFA).
According to him, the fund approval was made possible after the state requested a grant to support the establishment of the Power Sector Reform Desk in his Ministry for mainstreaming decentralised renewable energy solutions.
Mr Aluko explained that the funding approval, secured through the Africa Energy Sector Technical Assistance Programme (AESTAP), would sponsor three delegates from the state to participate in a hybrid training course on power sector regulation at the Africa School of Regulation (ASR), in addition to consultancy services.
He assured that the Ministry would leave no stone unturned to ensure a steady supply of electricity, potable water, responsive fire services, and an efficient telecommunication system in the state.
This is the latest injection from the lender after it committed $80 million to the Ekiti Knowledge Zone (EKZ) in 2023. It said it was part of bold steps to transform the region into a hub for digital innovation and knowledge economy.
The loan financing for the state-led pioneering special economic zone project was designed to foster linkages between educators, researchers, innovators, entrepreneurs, and industries, all within one location.
EKZ promises to be a place where ideas converge, creativity thrives, and dreams take flight. The Ekiti State Government is committing $14.8 million in counterpart funding to complement the bank’s financing for the $94.8 million project.
Spanning 40 hectares of land, the EKZ aims to catalyse digital entrepreneurship, promising to generate 26,000 jobs and inject $14 million annually into the economy upon completion.
The project involves the development of world-class infrastructure, creating a 20-hectare green technology park and providing roads, electricity, water supply and wastewater treatment facilities. It will also invest in people, particularly the youth. With plans to provide information and communication technology training for over 19,000 young minds in Ekiti and neighbouring states, the EKZ is sowing seeds of future entrepreneurs and business leaders.
