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World Bank, AfDB to provide funding for Ekiti airport construction

World Bank, AfDB to provide funding for Ekiti airport construction
October 12
22:06 2019
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The Ekiti government has expressed its readiness to build an airport as part of its efforts to attract investors to the state.

The previous Ayodele Fayose-led administration had started the project but experienced difficulty with the lands acquired to build the airport which eventually led to its suspension in 2015.

Muyiwa Olumilua, the state’s commissioner for information, made the government’s intentions known in a press conference to mark the first year anniversary of Kayode Fayemi as governor of the state.

Olumilua said the state is in discussions with the World Bank and African Development Bank (AfDB) for $100 million required for the construction of Ekiti knowledge zone, special agriculture processing zone, Ado-Akure road, and Ekiti Airport.

He also said the state government is about to conclude a joint venture partnership with Promasidor Nigeria Limited for the investment of $5 million to revive the moribund Ikun Dairy Farm located at Ikun Ekiti, Moba local government area of the state.

He noted that the projects will ensure that Ekiti becomes the hub of the service and knowledge industry in Nigeria, cement the state’s place as a leading agricultural hub and also improve access for business and recreational travellers.

“The shareholder agreement for the new company to be formed to manage the dairy farm will be signed this month, with Promasidor as the core investor, while the state will retain a minority interest, through its investment company, Fountain Holdings.

“This will attract a new investment of $5 million into Ikun Dairy Farm, which will be used to buy equipment, provide the appropriate herd of cattle, and develop an out-grower scheme for providing feed for the cattle.

“When the farm is fully operational, it will create hundreds of jobs directly, and indirectly and also improve the economy of the host community, surrounding communities and Ekiti State at large.”

He assured that the government would continue to invest heavily in education and healthcare of the people to ensure a skilled and healthy workforce.

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