The Ekiti State Government has begun the process of securing a N175.75 billion grant from the Natural Resources Development Fund (NRDF) to diversify the state’s economy through strategic investment in agriculture, solid minerals, and tourism.
Governor Biodun Oyebanji disclosed this yesterday during a meeting with officials of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), led by Ambassador Desmond Akawor, in Ado-Ekiti.
The RMAFC team was in the state to conduct a feasibility assessment on the proposed projects under the NRDF grant application.
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Represented by his Chief of Staff, Niyi Adebayo, Oyebanji explained that the funding would support his administration’s vision of building a self-sufficient and globally competitive economy.
He said the grant would help prioritise key government policies and programmes aligned with President Bola Tinubu’s Renewed Hope Agenda and Ekiti’s Shared Prosperity vision.
“The plan is to position Ekiti as a hub of opportunity, peace, and progress, and to lay the foundation for a prosperous future,” he said.
“This grant will enable us to expand our revenue base, attract foreign investments, and boost food security through commercial agriculture and value-chain development.”
The governor also emphasised the state’s potential in tourism and solid minerals, noting that Ekiti’s unique landscape, cultural heritage, and natural attractions could be harnessed into a vibrant tourism economy.
“Ekiti is blessed with breathtaking terrain, caves, and historic landforms. The entire state is practically a tourist site. We are committed to transforming this potential into a sustainable revenue source,” he added.
In his remarks, Akawor confirmed that the commission had received Ekiti’s request for N175.75 billion and expressed optimism about the state’s prospects.
He described tourism as a “gold mine” and urged the state to intensify its focus on the sector.
Akawor, who chairs RMAFC’s Committee on Fiscal Efficiency and Budget, said the Federal Government (FG) had approved the allocation of 1.68% of national revenue for natural resource development to help states reduce reliance on oil and gas.
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He explained that the NRDF provides subnational entities with funding opportunities to implement projects capable of generating sustainable revenue.
He commended Ekiti for its detailed proposals and assured the state of the committee’s commitment to making favourable recommendations to the FG.
