The Ekiti State Government, is stepping up efforts to support small businesses and grow the local economy through targeted financial interventions.
The Commissioner for Finance and Economic Development, Mr Akintunde Oyebode, who who made the assertion in an exclusive interview revealed that the government is finalizing plans to launch a ₦1 billion Cooperative Fund aimed at providing affordable financing to cooperative societies and small-scale entrepreneurs across the state.
According to Mr Oyebode, the fund will complement existing partnerships with financial institutions like Bosak Microfinance Bank and Access Bank, which are already supporting business owners and women entrepreneurs in various parts of Ekiti.
He also highlighted a successful partnership with the U.S. African Development Foundation, which provided a $1 million grant to support 10 agricultural cooperatives in the state with Ode-Ekiti Cooperative already producing locally milled rice as part of the initiative’s success stories.
“Our job as a government is to support those creating value,” As businesses grow, they will employ more people, increase productivity and as well generate more revenue into government coffers”
On infrastructure, the Commissioner confirmed that over ₦193 billion has been invested by the Oyebanji administration in key projects, including road construction, healthcare, public school upgrades, and land clearing for agriculture all geared toward improving the ease of doing business.
“When roads are accessible, transportation becomes cheaper, and goods move faster, that’s how economies grow,” he explained.
He also spoke on the recent Business Stakeholders’ Forum held in Ado Ekiti, where the Presidential Enabling Business Environment Council, PEBEC, engaged with local entrepreneurs to address challenges and improve the state’s investment climate.
He also commended the Ekiti State Development and Investment Promotion Agency (EKDIPA) for its role in streamlining business processes, helping entrepreneurs overcome bureaucratic delays and access faster solutions to their challenges.
The finance commissioner urged residents to remain hopeful and supportive, saying that Governor Oyebanji has achieved significant progress and, with continued support, he can do even more for the state.
“This is the first time we’ve had a peaceful transition between governors of the same party in Ekiti,” he said. “Governor Biodun Oyebanji has done so much in a short time, and with continued support and a second term, he can achieve even more for our dear state.”
