President Muhammudu Buhari on Tuesday gave approval for Ekiti State free Trade Zone status .
The approval was contained in a statement made available to journalists in Ado Ekiti through
Special Assistant to the Minister of Trade and Investment, Ifedayo Sayo in a letter titled: “RE: Recommendation For Approval and Designation of Free Trade Zone Status in Ekiti Knowledge Zone (EKZ) Situated on 208.949 Hectares of Land Located at Ado-Ijan Road, Ado Ekiti, Ekiti State,” addressed to the Minister and signed by the Chief of Staff to the President, Prof Ibrahim Gambari.
The letter reads in part, “I refer to your letter Ref.No., FMITI/CED/4748/Vol1 dated 22 February, 2023 on the above subject
Recall, Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo had sought for the free zone status to Ekiti Knowledge Zone (EKZ).
Meanwhile, Ekiti State government has appreciated the President Muhammadu Buhari, Federal Government, Minister of Industry, Trade and Investments, Otunba Niyi Adebayo and the Managing Director of the National Export Processing Zones Authority (NEPZA), Prof Adesoji Adesugba and his team for their support for granting the State free Trade Zone status. Saying,
“The approval is a necessary condition for inflow of investments into the EKZ, which will be the first service based special economic zone, and a major driver of economic growth in the state”
The approval for the free trade zone status is one of the results of Governor Oyebanji’s interface with federal ministries, parastatals and private organizations to rapidly grow the socio- economy of the state
Ekiti state Government congratulates the people of the state for the landmark achievement and urged investors and young professionals to take advantage of the approval.
“With the approval, a major condition for raising the necessary capital to achieve the zone’s objectives has now been met, and we expect to attract the required capital later in the year.
The Government of Ekiti State is committed to the infrastructure and economic development of the state and will continue to collaborate with relevant Government institutions, private entities and development partners to advance the socio- economic and infrastructure development of the State and ensuring shared prosperity for all”
