The Federal Executive Council (FEC) has approved an $80 million loan from the African Development Bank (AfDB) for the Ekiti Knowledge Zone (EKZ) project.
The EKZ project was conceived by the immediate past Governor of the state, Dr. Kayode Fayemi, as a visionary leap toward a knowledge-based economy in Ekiti State, aimed at harnessing intellectual capital for accelerated development.
The current administration, led by Governor Biodun Oyebanji, is continuing and expanding this project to position Ekiti State’s Knowledge Zone as a hub for attracting and integrating ideas, talents, and innovations within the state and Nigeria.
The Ekiti Knowledge Zone leverages technology for scientific research, industrialisation, innovative services, and aims to attract business process outsourcing companies and the back-office teams of large tech firms.
The loan will support Ekiti’s efforts to drive innovation, create job opportunities, develop the digital ecosystem, research and development, facilitate the growth of technology startups, and enrich the lives of students, youths, entrepreneurs & innovators in the state.