…Says 90% of ongoing Projects will be completed in 2025.

The Gross Domestic Product (GDP) of Ekiti State has grown from N1.36trillion to N1.88trillion signifying a whopping 8.02% increase between 2017 and 2022.

The State Commissioner for Budget and Economic Planning, Mr Femi Ajayi who made this known on Thursday while featuring on a simulcast radio programme tagged ‘Ekiti Today/Ekiti Loni’, said the growth percentage was a result of the ease of doing business environment created by the State Government.

Reiterating the commitment of the Biodun Oyebanji administration to a reliable socio-economic growth, Mr Ajayi stressed that the State Government is leaving no stone unturned in ensuring that adequate infrastructure is put in place while the agriculture sector which is the mainstay of the State’s economy is given more attention in order to grow the economy.

According to him, the GDP which was computed last year already indicated that the economy of Ekiti State is bigger than that of Sao Tome and Principe as well as some other countries in West Africa.

“In 2017, the GDP of this State was calculated and as at 2017 we had 1.36 trillion. As at 2022 when another GDP was calculated, we had 1.88 trillion. So the economy of Ekiti as it is today is bigger than Sao Tome and some countries in West Africa. So Ekiti is growing and by the time we are calculating GDP under this administration, because a lot of money has gone into agriculture, and now agriculture has surpassed mere service and is now a booster of GDP. RAAMP and FADAMA are doing a lot for our rural roads and these will have impact on the agric sector”, he said.

• Oyebanji, at Iyin-Ekiti, thanks President Tinubu for new Varsity
• FG APPROVES ESTABLISHMENT OF FOOD PROCESSING EQUIPMENT AND MACHINERY DEVELOPMENT INSTITUTE IN EKITI
• EKITI PLEDGES SUSTENANCE OF COLLABORATIVE RELATIONSHIP WITH MEDIA FOR EFFECTIVE INFORMATION DISSEMINATION
• EKITI GOVERNMENT SEEKS COLLABORATION WITH EKSU ON YOUTH EMPOWERMENT
• EKITI STATE EDUCATION MINISTRY PARTNERS OFFICE OF SPORTS DEVELOPMENT FOR USE OF SCHOOLS’ PLAYGROUNDS FOR SPORTS ACTIVITIES.

Attributing the State’s economic growth to the collaboration between the government and citizens, the Commissioner said the bottom-top approach in the budgeting process which is citizen-driven has promoted a detailed understanding of Government’s programmes leading to a more effective budget allocations and ensuring value for money spent.

He assured that about 90% of ongoing projects across the State would be completed before the end of 2025 going by the high level of commitment, planning and efforts put in place to rapidly develop the State and improve the welfare of the people.

He gave the administration a pass mark for the successes recorded in each of its six-pillar agenda, adding that the State’s 2024 budget had 88% performance rate which he described as high by any standard.

The Commissioner assured that government would not rest on its oars in the quest to rapidly develop the State and improve the general wellbeing of residents.

While responding to questions on the budgetary preparedness of the government for emergencies, Ajayi noted that the global outbreak of COVID-19 had taught governments all over the world a lesson to prepare for unforeseen circumstances, assuring that the Ekiti State Government is well prepared and has made adequate budgetary provision for emergency management.

“If we check the 2024 budget, we can see that the state performed well. If we said we wanted to do 10 things and ended up doing three, then we performed woefully but if we do 8 out of 10, it means we have done well. The Government of Mr Biodun Oyebanji has earned trust from the people of the State by turning the 2024 budget into realistic development across the State.”

“The government does not sit in the office and allocate resources to projects but meets with citizens at budget engagement meetings where the people tell the Governor what they want and then the government takes it up and come up with a budget. So invariably, the budget was done based on the need of the people. What we did last year gave us the courage to come up with the 2025 budget which was christened Budget of Sustainable Impact, meaning that the impact made through the 2024 budget will be sustained in 2025”, Ajayi said.