How Impactful’ll Oyebanji’s Second Term Be for Ekiti People?
Ekiti is richer than it was five years ago and more promising, with government figures putting growth from ₦2.4 trillion to ₦4.6 trillion and a projection near ₦8.8 trillion. As
Governor Biodun Oyebanji's second term holds significant potential for Ekiti's economic development. The state's economy has expanded from ₦2.4 trillion in 2019 to an estimated ₦4.6 trillion in 2023, with projections of reaching ₦8.8 trillion. However, the disparity between this growth and the state's road infrastructure is striking.
Despite the government's claims of economic progress, 62.5% of Ekiti's 425.95 kilometers of state roads were either in poor condition or untarred as of 2023. This disparity highlights the need for a more strategic approach to infrastructure development that directly benefits agriculture, trade, education, and tourism. Oyebanji's first term has already made a significant impact, but the second term presents an opportunity to transform Ekiti into a strategic inland connector between the South-West, North, and Abuja.
The Ado-Ijan-Ilumoba-Omuo corridor, in particular, deserves attention due to its link to the Federal Capital Territory, cargo airport, higher institutions, and the Knowledge Zone. Additionally, the state should prioritize addressing critical roads such as Igede-Aramoko-Itaore to prevent further embarrassment. Ekiti's geographical advantage lies in its potential for tourism, with attractions like Ikogosi Warm Springs, Arinta Waterfalls, and Efon Hills providing the foundation for a distinctive visitor economy.
However, the real opportunity lies in connecting these attractions to quality infrastructure, including good roads, accommodations, security, entertainment, and professional visitor experiences. This requires a collaborative approach between government and private capital, focusing on creating conditions that attract serious investors.
The Ikogosi concession serves as a model for structuring and marketing similar opportunities while ensuring that host communities benefit from the economic activity. Beyond tourism, Ekiti must position itself as an attractive proposition for investors. Investment promotion should focus on targeted offers built around land, human capital, agriculture, road connectivity, aviation, educational institutions, and access to regional markets.
By identifying industries and companies that fit these sectors and providing serviced industrial land with predictable approvals and reliable utilities, Ekiti can create a business case that investors can confidently quantify. The cargo airport presents another opportunity, with its potential to attract production, storage, cold-chain facilities, logistics, processing, and distribution industries.
However, the airport will only become a growth engine if tied physically and economically to the wider road and industrial ecosystem. Ultimately, Ekiti's economic future hinges on agriculture, which accounts for approximately 60% of the state's economy. By leveraging its agricultural strengths and creating a robust industrial ecosystem, Ekiti can build a sustainable foundation for its industrial future.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
