Ekiti State Governor, Mr. Biodun Oyebanji, has disbursed N1.45 billion in compensation to 195 residents of Ijan, Awo, and Araromi Ekiti whose lands were acquired for the Ekiti Knowledge Zone (EKZ) project. The payment, made on Tuesday at the Governor’s Office in Ado Ekiti, marks a crucial step in advancing the state’s flagship initiative to build an innovation-driven economic hub.
Governor Oyebanji described the EKZ as “a strategic economic initiative aimed at creating an innovation-driven ecosystem and a business incubation platform for knowledge-based enterprises in the state.” He noted that the project is expected to create more than 14,000 jobs, focusing on youth employment and sustainable economic development.
The governor announced that the compensation package, initially assessed at ₦1.119 billion, was increased to N1.45 billion to align with current economic realities. “As a show of appreciation and in line with our promise of justice and transparency, I am pleased to announce that the total compensation package initially assessed at ₦1.119 billion has now been reviewed to reflect current economic realities and stands at N1.45 billion which is being disbursed today,” he said.
He emphasized that the EKZ is a catalyst for development, leveraging Ekiti’s intellectual capital to create a vibrant hub for innovation and service industries. The project is supported by critical infrastructure such as the Ekiti State Agro-Allied International Cargo Airport and the Ekiti Ring Road Project, which will ensure its long-term success.
To guarantee a fair and transparent resettlement process, the government appointed Green Engagement Limited as consultants to implement the Resettlement Action Plan for those affected by the project.
Governor Oyebanji also expressed gratitude to President Bola Tinubu’s administration for fostering an enabling environment and to the African Development Bank (AfDB) for funding and technical assistance.
He assured that beyond monetary compensation, the government would provide additional support to vulnerable persons, including capacity development in oil palm agro-production, vocational training, social services, and post-compensation monitoring to ensure sustainable resettlement.
Clarifying the financing, the governor explained that the Federal Government guaranteed an $80 million loan on behalf of the state, but the funds are managed by AfDB and paid directly to contractors, not through the state government.
Ms. Lolade Olutola, EKDIPA Director General and EKZ Project Coordinator, reiterated the administration’s commitment to fairness, transparency, and inclusivity in the compensation process.
The Onijan of Ijan Ekiti, Oba Adebanji Aladesuyi, thanked the governor for fulfilling his promise and prioritizing citizens’ welfare, describing the EKZ as “a complete solution to the problem in the country intellectually, technically and all round development.”
Mr. Bankole Ojo, speaking for the beneficiaries, expressed gratitude and pledged support for the project’s implementation.