Ekiti State Governor, Mr Biodun Oyebanji on Tuesday presented over 1,450,000,000 Billion naira cheques as compensation to 195 indigenes of Ijan, Awo, and Araromi Ekiti, whose land were acquired for the Ekiti Knowledge Zone project.

The Ekiti Knowledge Zone is a strategic economic initiative aimed at creating an innovation driven ecosystem and a business incubation platform for knowledge-based enterprises in the state.

Speaking while presenting the cheques to the beneficiaries at a brief event held at the Conference Hall, Governor’s Office, Ado Ekiti, the Governor said the EKZ is projected to deliver over 14,000 jobs, particularly for the youth. This, according to him, is a clear step toward tackling unemployment and building a sustainable future for future generations.

Explaining the potentials of the Knowledge Zone and describing it as a catalyst for development, Governor Oyebanji said “As a State celebrated for its intellectual capital, we have chosen to leverage this unique strength to drive inclusive economic growth and create a vibrant hub for innovation and service-driven industries.

Emphasizing that the Ekiti Knowledge Zone does not stand alone, the Governor explained that his administration has put in place critical supporting infrastructure to ensure its viability and long-term success which include the Ekiti State Agro-Allied International Cargo Airport, Ekiti Ring Road Project, among others.

He further explained that the State Government has also engaged Green Engagement Limited as Consultant to ensure a just and transparent process in implementing the Resettlement Action Plan (RAP) for the Project Affected Persons.

While expressing his profound appreciation to the Federal Government under the visionary leadership of President Bola Ahmed Tinubu for fostering an enabling environment for the project and the African Development Bank for not only funding the project but for their consistent technical support to the Project Implementation Unit, Governor Oyebanji affirmed that beyond financial compensation, his administration remains committed to providing additional support measures to vulnerable persons which include capacity development in oil palm agro-production, vocational skills training, social services, and post-compensation monitoring to ensure a more holistic and sustainable resettlement process.

Governor Oyebanji also addressed public misconceptions regarding the financing of the project, clarifying that although the Federal Government guaranteed an $80 million loan on behalf of the state, the funds were not disbursed directly to the state government.

“The African Development Bank (AfDB), in partnership with the Ekiti State Development and Investment Promotion Agency (EKDIPA), oversees the procurement process and pays contractors directly. The state government neither receives nor handles the loan funds,” he emphasized.

Speaking further, he said : “As a State celebrated for its intellectual capital, we have chosen to leverage this unique strength to drive inclusive economic growth and create a vibrant hub for innovation and service-driven industries. The EKZ is projected to deliver over 14,000 jobs, particularly for our youth, a clear step toward tackling unemployment and building a sustainable future for generations to come.

“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 ₦1,118,852,813.00, has now been reviewed to reflect current economic realities and stands at N1,450,000,000.00, which is being disbursed today.”