Inside Nigeria

Fayemi at Stock Exchange, Says Ekiti Will Return to Top in Business

Ekiti State Governor, Dr Kayode Fayemi, has said that 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 in the country.

Governor Fayemi who said that the state was rated number four in ease of doing business in 2014 when he left office, before sliding to the 32nd position thereafter, said he was sure the state would soon return to the number three spot.

He urged investors to invest in the state, taking advantage of the business –friendly environment.

The Governor stated this while presenting “ Investing in Ekiti: Facts Behind the State .Economy” at the Nigerian Stock Exchange, Lagos on Friday, adding that  his administration has started putting in place relevant laws and creating enabling environment that could attract investments to the State.

Governor Fayemi, who was received at the Stock Exchange by the Director -General of NSE, Oscar Onyema and the President, Otunba Abimbola Ogunbanjo, also rang the bell signifying the close of transaction for the day.

Speaking at a session with investors and stock brokers, Dr Fayemi said the efforts of his government had started yielding positive results with the return of development partners to the State as well as the resuscitation of some moribund businesses like the Gossy Water as well as return of three banks that had left the state, owing to unfriendly business policies of the immediate past administration.

He disclosed that the state government was equally working hard to provide adequate security of lives and investment in the State, even as the security architecture of the State has been improved upon in the last 10 months.

“Ekiti was fourth in the ease of doing business during my first tenure until it dropped to 32nd position. 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 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 State a competitive destination for business. We have also passed the Law establishing the Ekiti State Development and Investment Promotion Agency (EKDIPA). Once the agency commences full operations, it will drive our Ease of Doing Business reforms and provide investors with a one-stop shop to deal with investment related matters”, Fayemi said.

While speaking on the State’s partnership with the Nigerian Stock Exchange, the governor expressed optimism that the continued partnership would help the State in unlocking investment in its focus sectors while also optimizing state-owned enterprises. He said Ekiti State had

The governor said governments can partner with the capital market to get funds for projects which support economic growth, provide jobs for the unemployed and increase access to public utilities.

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 to include agriculture, tourism and the knowledge zone, a project which is designed to ensure the supporting infrastructure for 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.


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