Governor Biodun Oyebanji of Ekiti State has disbursed over N1.45 billion in compensation to 195 landowners whose properties were acquired for the Ekiti Knowledge Zone (EKZ) project.
The beneficiaries, from Ijan, Awo, and Araromi Ekiti, received cheques yesterday during a brief ceremony held at the Conference Hall of the Governor’s Office in Ado Ekiti.
The EKZ is a major economic initiative designed to establish an innovation-driven ecosystem and serve as a business incubation hub for knowledge-based enterprises in the state.
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Mr Oyebanji emphasised that the project is expected to generate over 14,000 jobs, particularly targeting young people, as part of efforts to combat unemployment and secure a sustainable future for coming generations.
Highlighting the strategic importance of the EKZ, the governor said, “As a state celebrated for its intellectual capital, we have chosen to leverage this unique strength to drive inclusive economic growth and create a vibrant hub for innovation and service-driven industries.”
Mr Oyebanji further noted that the EKZ is supported by key infrastructure projects, including the Ekiti State Agro-Allied International Cargo Airport and the Ekiti Ring Road Project, which are aimed at ensuring the long-term success of the initiative.
He disclosed that the state government engaged Green Engagement Limited as consultants to guarantee a transparent and fair implementation of the Resettlement Action Plan (RAP) for those affected by the project.
The governor also expressed appreciation to the Federal Government (FG), led by President Bola Tinubu, for providing a supportive environment for the EKZ, and to the African Development Bank (AfDB) for both funding and providing technical support for the project’s implementation.
Mr Oyebanji clarified public misconceptions regarding the project’s financing, stating that although the FG guaranteed an $80 million loan for the state, the funds are not handled by the state government.
He explained that the African Development Bank, in collaboration with the Ekiti State Development and Investment Promotion Agency (EKDIPA), oversees procurement and pays contractors directly.
Reassuring the landowners, Mr Oyebanji said the initial compensation of N1.12 billion was reviewed to reflect current economic realities, bringing the total compensation package to N1.45 billion.
Howes, the Director General of EKDIPA and EKZ Project Coordinator, Lolade Olutola, reaffirmed the government’s dedication to building the future of the state on the foundation of knowledge, creativity, and resilience.
She stressed that the compensation process was guided by the administration’s commitment to fairness, transparency, and inclusion.
Ms Olutola also thanked Mr Oyebanji, the African Development Bank, and the Federal Ministry of Finance for their steadfast support towards the success of the EKZ project.
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Also, the Onijan of Ijan Ekiti, Oba Aladesuyi Adebanji, expressed deep gratitude to the governor for fulfilling his promises and prioritising the welfare of the people.
He described the EKZ as a holistic solution to the country’s developmental challenges.
Furthermore, Bankole Ojo, who spoke on behalf of the beneficiaries, also thanked the governor and pledged their full support for the successful execution of the project.
