Ekiti State Governor, Biodun Oyebanji, has announced that the state has witnessed remarkable economic transformation over the past three years. Speaking at the State of the State Address in Ado-Ekiti to mark the third anniversary of his administration, the governor expressed satisfaction with the progress made since assuming office in October 2022, noting that Ekiti has recorded significant growth across major development indices.

Governor Oyebanji revealed that the state’s Gross Domestic Product (GDP) rose from ₦2.4 trillion in 2019 to ₦4.6 trillion in 2023, representing a 90% growth rate. This leap, he said, moved Ekiti from the 33rd to the 28th largest economy in Nigeria, with trade and agriculture contributing 60% to the state’s GDP. He attributed the growth to focused investment in trade, agriculture, and the emerging Knowledge Economy, backed by an $80 million African Development Bank (AfDB) support for the Ekiti Knowledge Zone.

Highlighting achievements in agriculture, the governor said over 5,000 hectares of land had been cleared for youth and community farming, creating jobs and promoting food security. He also mentioned the establishment of processing facilities for soya oil, rice, and shea butter in partnership with private investors. Oyebanji emphasized that agriculture remains central to the state’s prosperity plan, serving as both a major employer and a key driver of the economy.

The governor further revealed that the state’s Internally Generated Revenue (IGR) had surged from ₦700 million to over ₦2 billion monthly, thanks to reforms in digital tax administration, expansion of the tax net, and better business policies. He commended President Bola Tinubu for his support and reiterated his commitment to fulfilling his social contract with the people of Ekiti by sustaining rapid growth and development.

In his remarks, Speaker Adeoye Aribasoye praised the governor’s achievements, describing the last three years as monumental for Ekiti’s progress. He noted that the strong collaboration between the executive and the legislature has contributed to the success recorded in infrastructure, education, health, and human capital development, making the state a model of good governance and economic resilience.