Governor Biodun Oyebanji has paid N1.45 billion in compensation to landowners for the Ekiti Knowledge Zone.
The project aims to boost jobs, innovation, and economic growth across the state’s digital and trade sectors.
Ekiti State Governor, Mr. Biodun Oyebanji, has disbursed a total of N1.45 billion in compensation to 195 landowners whose land was acquired for the ambitious Ekiti Knowledge Zone (EKZ) project. The recipients, from Ijan, Awo, and Araromi Ekiti communities, received their cheques during a presentation ceremony held on Tuesday at the Governor’s Office in Ado Ekiti.
The EKZ initiative is a strategic project aimed at establishing a knowledge-driven economic hub that will foster innovation, entrepreneurship, and youth employment in Ekiti State. According to Governor Oyebanji, the compensation figure, originally pegged at N1.1 billion, was reviewed upwards to reflect 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… now stands at N1.45 billion, which is being disbursed today,” the governor stated. He further emphasized that the project is expected to generate over 14,000 direct and indirect jobs, with a strong focus on empowering the youth and harnessing Ekiti’s intellectual capital.
To ensure long-term viability, the government has introduced critical infrastructure projects such as the Agro-Allied International Cargo Airport and the Ekiti Ring Road. The administration has also contracted Green Engagement Limited to oversee the Resettlement Action Plan (RAP) and ensure fairness for affected persons.
Governor Oyebanji also acknowledged the Federal Government under President Bola Ahmed Tinubu for providing an enabling environment, and the African Development Bank for its financial and technical support toward the EKZ project. He affirmed that beyond the monetary compensation, the government has introduced additional support schemes including training in agro-processing, vocational skills development, and post-compensation monitoring to aid the livelihoods of vulnerable beneficiaries.
Ms. Lolade Olutola, Director General of the Ekiti State Development and Investment Promotion Agency (EKDIPA) and EKZ Project Coordinator, reiterated the state’s commitment to addressing the concerns of residents while driving sustainable economic growth.
The Ekiti Knowledge Zone, approved in 2023 by then-President Muhammadu Buhari as a Free Trade Zone, occupies over 208 hectares along the Ado-Ijan Road. It stands among the first knowledge-based service parks in the region, part of a broader national effort to use free trade zones as catalysts for economic transformation.
