In a major step toward economic transformation, the Ekiti State Government has disbursed N1.45 billion in compensation to 195 landowners whose properties were acquired for the Ekiti Knowledge Zone (EKZ) project.
Governor Biodun Oyebanji presented the cheques on Tuesday to beneficiaries from Ijan, Awo, and Araromi Ekiti during a ceremony at the Governor’s Office in Ado-Ekiti.
Describing the EKZ as a “strategic economic initiative,” Oyebanji said the project aims to create a technology-driven hub for innovation, enterprise, and job creation. “The EKZ is expected to generate over 14,000 jobs, with a focus on opportunities for our youth,” he said.
The compensation package was initially pegged at N1.119 billion but was reviewed upward to N1.45 billion “in recognition of current economic realities,” the governor said.
“This gesture reflects our commitment to fairness, transparency, and inclusive development. We understand the importance of compensating affected persons adequately as we embark on a journey to reposition Ekiti’s economy,” he added.
The Ekiti Knowledge Zone is part of a broader infrastructure plan that includes the Ekiti Agro-Allied International Cargo Airport and the Ekiti Ring Road Project. Governor Oyebanji said these complementary projects are designed to support the viability of the knowledge zone and drive long-term development across the state.
To ensure transparency and fairness in the land acquisition and resettlement process, the state government partnered with Green Engagement Limited to implement the resettlement action plan.
Governor Oyebanji also credited the African Development Bank (AfDB) for providing technical support and funding for the EKZ project. He clarified that although the Federal Government guaranteed an $80 million AfDB loan, the funds are managed by the AfDB in partnership with the Ekiti State Development and Investment Promotion Agency and disbursed directly to contractors.
He also pledged additional support for vulnerable individuals affected by the project, including vocational training, oil palm agro-development initiatives, and social services.
Director General of EKDIPA and EKZ Project Coordinator, Ms. Lolade Olutola, reaffirmed the administration’s commitment to leaving no one behind. Traditional ruler Oba Adebanji Aladesuyi, the Onijan of Ijan Ekiti, described the project as “a comprehensive solution to Nigeria’s challenges.”
Speaking on behalf of the beneficiaries, Mr. Bankole Ojo expressed appreciation and assured the government of full community cooperation as the project moves into its implementation phase.
