Ekiti State Government has requested support from the African Development Bank (AfDB) for the construction of its Agro-Allied cargo Airport and the construction of Ekiti Knowledge Zone(EKZ), Special Agriculture Processing Zone (SAPZ), Ado-Akure Road, and Ekiti as part of activities marking the 1st year in office of Dr. John Kayode Fayemi.
The fund required is $100 million and when granted, it has a 10-year moratorium and 2 percent interest that means the project has started earning income for the people of Ekiti many years ahead before they start to pay back.
In other words, no pressure on Ekiti State Government’s current financial profile as Dr. Fayemi is not “wasting scarce resources to build an airport” as is largely claimed.
The Ekiti Agro-allied cargo airport will help to transport a large number of cash crops (cocoa, plantain, oil palm) from the proposed Special Agriculture Processing Zone (SAPZ) in and out of Nigeria at an increased rate to secure the early-to-market advantage.
The State has entered into a partnership with Promasidor Company for the revitalization of the moribund Ikun Dairy Farm when Ikun Dairy farm is completed, it would produce 10,000 liters of milk daily.
With the World Bank to undertake rehabilitation and tarring of 1000km of rural roads through the Rural Access to Market Programme (RAMP).
This will commence right after the rain and it will aid the reconstruction of farm settlements, provide basic amenities to facilitate transportation of farm produce after harvest to the Special Agriculture Processing Zone. It will also connect Ekiti rural communities to urban centers and market places.
This will become a major logistic hub for produce handling in the Southwest and North Central Food Basket Zone.
These projects are crucial to Governor Fayemi’s economic diversification plans and agribusiness investment policy to enhance food security, employment opportunities and empower women and youths in Ekiti State.