Governor of Nigeria’s Ekiti State, Dr. Kayode Fayemi, has disclosed that his administration had attracted over $100 million investment to the southwest state in the last three years to buoy its Internally Generated Revenue (IGR).
Fayemi said he was able to accomplish the feat through offering of waivers to investors on payment of some statutory fees and partnership with private investment to boost the economy.
The governor, who said this in Ado Ekiti, on Tuesday, during a workshop organised by the Ekiti State Development and Investment Promotion Agency for State officials on Nigerian Investment certification programme for states (NICPS) was represented by the Commissioner for Trade and Industry, Chief Muyiwa Olumilua.
While noting that his government had created veritable platform to ease means of doing businesses to drive economic development, Fayemi said, “In the last three years, we introduced some reforms to make establishment of business easier, which included granting of business premises waiver, Automation of PAYE registration, introduction of online payments for construction and setting of High Court minimum thresholds at six judgments per quarter.
“All these were put in place to attract new businesses to Ekiti. In totality, we have attracted over $100m to Ekiti since 2018. Ikun Dairy Farm alone gulped $5m, which we achieved through partnership with Promasidor Nigeria Limited and we are making similar progress in other agro based companies”.
The Ekiti governor said the NIPC certification programme was introduced to support investors for business promotion, job creation and economic diversification.
According to him, the government has been partnering intending investors via provision of accurate information on business opportunities, allocation of buildings and sites that were investment-friendly and maintaining marketing standard that could boost their investments.
Special Adviser to the Governor and Director General, Ekiti State Development and Investment Promotion Agency, Mr. Ayoola Owolabi, also said the training was conceptualised to enhance promotion of private investments in the state.
Owolabi stressed that improving business environment was critical to the Fayemi government policy thrust and that accounted for the establishment of the EKDIPA with the mandate to work with Ministries, Departments and Agencies (MDAs) for effective delivery of government’s focus in investment.
“This training deals majorly with knowledge that will enhance contracts and registering of businesses. Through serious investment drive, we have worked for the resuscitation of Ikun Dairy Farm in partnership with Promasidor Nigeria Limited while Ikogosi Warm Spring and Resort, Ire Burnt Brick, Ekiti House in Abuja and Lagos are at advanced stages of Public Private Partnership,” he said.
The Southwest Zonal Head, Nigeria Investment Promotion Commission (NIPC), Mr. Hassan Lawal, said the training showed the eagerness of the Fayemi government to develop investment for economic growth and development in the state.
“Working with stakeholders is very necessary, because you can’t develop business alone. Our focus is to improve the IGR of the states. We don’t want them to rely alone on monthly federal allocation and this can only be achieved with investment promotion, where our youth can be more engaged and productive”.
Victor Ogunje in Ado Ekiti
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