Ekiti State Governor, Mr. Biodun Oyebanji, on Tuesday officially handed over compensation cheques totaling N1.45 billion to 195 indigenous landowners from Ijan, Awo, and Araromi Ekiti communities. These lands were acquired to facilitate the development of the Ekiti Knowledge Zone (EKZ), a flagship project aimed at transforming the state’s economy through innovation and knowledge-based enterprises.
Okay.ng reports that during the presentation ceremony held at the Governor’s Office in Ado Ekiti, 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 emphasized the project’s potential to generate over 14,000 jobs, particularly targeting the youth demographic, thereby addressing unemployment and fostering sustainable economic growth.
The governor revealed that the initial compensation package, which was assessed at ₦1.119 billion, had been revised upwards to N1.45 billion 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 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 stated.
Governor Oyebanji further highlighted the EKZ’s role as a catalyst for development, leveraging Ekiti’s intellectual capital to create a vibrant hub for innovation and service industries. He noted that the project is supported by critical infrastructure developments such as the Ekiti State Agro-Allied International Cargo Airport and the Ekiti Ring Road Project, which are essential for the long-term viability and success of the Knowledge Zone.
To ensure fairness and transparency in the resettlement process, the state government engaged Green Engagement Limited as consultants to oversee the Resettlement Action Plan for those affected by the project. The governor also expressed gratitude to the Federal Government under President Bola Tinubu for creating an enabling environment and to the African Development Bank (AfDB) for funding and technical support.
Oyebanji reassured that beyond financial compensation, his administration is committed to providing additional support to vulnerable groups through capacity development in oil palm agro-production, vocational training, social services, and continuous post-compensation monitoring to ensure sustainable resettlement.
Addressing concerns about project financing, the governor clarified that although the Federal Government guaranteed an $80 million loan on behalf of Ekiti State, the funds were not directly disbursed to the state government. “AfDB, in partnership with Ekiti State Development and Investment Promotion Agency, oversees the procurement process and pays contractors directly. The state government neither receives nor handles the loan funds,” he explained.
In her remarks, Ms. Lolade Olutola, Director General of EKDIPA and EKZ Project Coordinator, reiterated the government’s commitment to building Ekiti’s future on knowledge, creativity, and resilience. She emphasized the administration’s values of fairness, transparency, and inclusion throughout the compensation process.
The Onijan of Ijan Ekiti, Oba Adebanji Aladesuyi, expressed appreciation to Governor Oyebanji for fulfilling his promise and prioritizing citizens’ welfare. He described the EKZ project as “a complete solution to the problem in the country intellectually, technically and all round development.”
Speaking on behalf of the beneficiaries, Mr. Bankole Ojo thanked the governor and pledged their continued support for the successful implementation of the EKZ project.
