Knowledge Economy: Buhari approves FTZ status for Ekiti Knowledge Zone, jobs creation development

*President Muhammadu Buhari grants free zone status approval for the Ekiti Knowledge Zone, located along Ado-Ijan Road, in Ekiti State of Nigeria

Gbenga Kayode | ConsumerConnect

President Muhammadu Buhari lo has approved the request of Otunba Adeniyi Adebayo, Honourable Minister for Industry, Trade and Investment, seeking a free zone status for the Ekiti Knowledge Zone (FTZ), in Ekiti State.

The approval of FTZ for the Ekiti State, fondly called ‘Fountain of Knowledge’ and now ‘Land of Honour’, is contained in a statement Mr. Ifedayo Sayo, Special Assistant (SA) to the Minister, issued Tuesday, April 11, 2023, in Abuja, FCT.

Governor Abiodun Oyebanji of Ekiti State

The Minister’s aide disclosed the approval was conveyed via a letter titled: ‘RE: Recommendation for Approval and Designation of Free Trade Zone Status in Ekiti Knowledge Zone (EKZ)’.

According to Sayo, the FTZ in Ekiti Knowledge Zone is situated on 208.949 hectares located along Ado-Ijan Road, Ado Ekiti, Ekiti State, South-West Nigeria.

He said that Prof. Ibrahim Gambari, Chief of Staff (CoS) to President Buhari, signed and addressed the letter conveying the information to Otunba Adebayo.

The letter stated in part: “I refer to your letter Ref. No., FMITI/CED/4748/Vol1 dated February 22, 2023 on the above subject.

“Kindly note that Mr. President has granted free zone status approval for the Ekiti Knowledge Zone located along Ado-Ijan road, Ekiti State.

“This is on a parcel of land measuring approximately 208.949HA with coordinates 8042765.02m’N; 761’244.963m’ E, in accordance with Section 1(1) of the NEPZA Act Cap. N107 Laws of Federal Republic of Nigeria, 2004.”

On Ekiti Knowledge Zone and jobs creation project

ConsumerConnect reports the Ekiti Knowledge Zone is conceived as a world-class knowledge park, which leverages Ekiti State’s comparative advantage to create a vibrant ecosystem of innovative businesses and a conducive environment for collaboration, innovation and technology transfer in line with the Sustainable Development Goals (SDGs) of the United Nations (UN) and the four-point agenda outlined by the State Government.

The development shall be structured as a Public-Private Partnership, with Ekiti State Government providing land, and the required infrastructure to make the site conducive for investors and stakeholders, says AfDB report.

Objectives of EKZ development

In terms of the benefits of the knowledge production project, the main objective of the EKZ development is to catalyse economic growth for the state and inclusive socio-economic growth for its citizens.

It seeks to achieve this by taking advantage of its position as a gateway to the North, good topography and close proximity to Lagos State and Abuja, and typically a renowned state for quality education and distinguished scholars in the West African country.