Happiness, Joy In Ekiti As Land Owners Get N1.45bn Compensation From Gov Oyebanji

195 Lands owners in Ijan, Awo, and Araromi Ekiti, in Ekiti State, whose land were acquired for the Ekiti Knowledge Zone project, were in a joyous mood on Tuesday, 24 June, 2025 , as the state Governor, Biodun Oyebanji  presented 1,450,000,000 billion naira cheques to them
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.
Oyebanji, while Speaking during the presentation of the cheques  to the beneficiaries at a brief event held at the Conference Hall, Governor’s Office, Ado Ekiti,  the state capital,  said the EKZ is projected to deliver over 14,000 jobs, particularly for the youth. This, according to him, is a clear step towards tackling unemployment and building a sustainable future for future generations.
He pointed out the potentials of the Knowledge Zone and describing it as a catalyst for development
“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, Governor Oyebanji
Oyebanji said the Ekiti Knowledge Zone does not stand alone, the governor, just as he also explained that his Administration had put in place critical supporting infrastructure to ensure its viability and long-term success, which includes the Ekiti State Agro-Allied International Cargo Airport, Ekiti Ring Road Project, among others.
According to the governor, the State Government had 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.
The governor at the event  showered praise on the Federal Government under leadership of President Bola 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.”
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  used the occasion to 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,” the governor said..
The governor added that 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.
Oyebanji added that “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”
The Director General, Ekiti State Development and Investment Promotion Agency (EKDIPA), and EKZ Project Cordinator, Lolade Olutola, in her address at the occasion expressed Government’s commitment to ensuring that the future of Ekiti State is built on its strength of knowledge, creativity and resilience.
Olutola also affirmed that the shared value of fairness, transparency and inclusion of the administration is not being left out in the compensation process, adding that the event reflected on the commitment of the administration to ensure that no one is left behind in Governor Oyebanji’s developmental agenda.
EKDIPA boss also expressed her profound gratitude to Governor Oyebanji for ensuring that the welfare of residents is paramount in his heart as well as Africa Development Bank and the Federal Ministry of Finance for their unflinching support towards the success of the project.
Speaking on behalf of the beneficiaries, Bankole Ojo thanked the governor and assured him of their continued support for the implementation of the project.