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Ekiti attracted $50m investments in 2 years, says Fayemi

Ekiti State Governor, Dr. Kayode Fayemi, has disclosed that his administration in the first two years attracted investment worth $50 million to the state in its efforts to reduce over dependence on the federal revenue allocation. Fayemi, who stated this yesterday at the second labour roundtable meeting held at the conference hall of the Governor’s office said his administration had set some mechanism in motion by creating business opportunity and making the state a destination of choice for investors.

Present at the roundtable were the Deputy Governor, Otunba Bisi Egbeyemi, the Head of Service, Mrs. Peju Babafemi and other top government officials. Fayemi who revealed that payment of salaries had been a miracle in view of the current economic downturn and the financial stress occasioned by the COVID-19 pandemic, however, promised that his government would not renege on his responsibilities to workers.

He expressed his commitment to minimum wage while optimistic that negotiation on consequential adjustment for grade level 7 and above would be completed before the end of the year. He revealed that some states that have commenced minimum wage have now reverted to paying 50 per cent or 70 per cent to workers, saying he did not want to commence what he would not be able to sustain, adding that he would rather keep people at work than promise what state finances cannot pay. He said: “The fact that we had maintained salary payment in Ekiti without fail is in itself a miracle but what we need to do is to find a mechanism to move away from dependency on that federal allocation by creating business opportunities and making our state an investment friendly state.

“And in the last year, we attracted about $50 million investment, that is what we’ve done in the last two years, there are other investment that have come to the state, it is the only solution, Ekiti has to be investment friendly, and we have to also in our own way make it easy for businesses to run in order to reduce our dependence on federal allocation.

 

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