#1Ekiti Economic Summit Investment Attractiveness and Economic Development: Lessons for Sub-national. GET STARTED GOVERNMENT OF EKITI STATE NIGERIA Development Agenda for Western Nigeria DAWN DAWN Commission COMMISSION Development Agenda for WESTERN NIGERIA •LAND OF HONOUR.#2NMENT GOVERN OF EKITI STATE LAND OF HONOUR Ekiti NIGERIA was declared a state 1st of October 1996 ⒸBrie Brief Introduction Land of Honour estimated Area of about 7,000 square kilometers ranked 31st in size Population and Land size About 2.97million 5,887.890sq.km DAWN COMMISSION Development Agenda for WESTERN NIGERIA Historical Location The State, carved out of the territory of old Ondo State, covers the former twelve local government areas that made up the Ekiti Zone of old Ondo State. It lies south of Kwara and Kogi states, east of State of Osun and is bounded by Ondo state in the east and in the south. Ekiti state stands out among the other states in the region in terms of quality of human capital development.#3DAWN COMMISSION Development Agenda for WESTERN NIGERIA GOVERNMENT OF EKITI STATE 03 Pioneers Several of academia Ekiti State is reputed to have produced the highest number of professors in Nigeria •LAND OF HONOUR. NIGERIA In commemoration of the 25th anniversary of the creation The Ekiti state Economic Summit comes as a pathway to think forward in predicating investment attractiveness and economic development of the state. WORK WITH US#4GOVERNMENT OF EKITI STATE LAND OF HONOUR NIGERIA VERNMENT EKITI STATE NIGERIA U •LAND OF HONOUR. NMENT OF Trend of the Fiscal Space in Ekiti State EKITI STATE LAND OF HONOUR Year IGR IGR Total Debt 2016 2.99 30.04 99.40 2017 4.97 37.75 141.29 2018 6.47 47.02 150.41 2019 8.56 49.49 118.41 2020 8.72 47.31 123.88 All unit in Billion Naira DAWN COMMISSION Development Agenda for WESTERN NIGERIA Ekiti State Key Economic Indices at a glance Macroeconomic indicators for Ekiti State Poverty rate 28.04% Unemployment and underemployment 28.04% WORK WITH US#5RNMENT OF EKITI STATE 05. DAWN COMMISSION Development Agenda for WESTERN NIGERIA Ekiti State Economy at a glance Macroeconomic indicators for Ekiti State LAND OF HONOUR NIGERIA Debt profile: NGN'bn Domestic 84.7 Foreign 103.0#6GOVERNMENT Ө Key Agricultural Produce Overv Overview of the Key DAWN COMMISSION Development Agenda for WESTERN NIGERIA Agricultural Produce in Ekiti State The main agricultural produce in Ekiti state include OF EKITI STATE LAND OF HONOUR NIGERIA#7For instance, Ikere-Ekiti, is a major collecting point for cocoa It also serves as an agricultural trade centre GOVERNMENT OFF EKITI STATE LAND OF HONOUR NIGERIA DAWN COMMISSION Development Agenda for WESTERN NIGERIA#8Key Soli Key Solid Mineral Resources in Ekiti State Table 1 below presents the maps the mineral resources to its location. EKITI GOVERNMENT OF STATE LAND OF HONOUR NIGERIA DAWN COMMISSION Development Agenda for WESTERN NIGERIA LGA Place Mineral Ido/Osi Orin Ekiti Bauxite Ijero Ijero Cassiterite ljero Ijero Kaolin Oye Isan Ekiti Kaolin#9Overvie Overview of the Business and Investment Environment in Ekiti State The Ease of Doing Business (EODB) Report was recently concluded by Presidential Enabling Business Environment Council and National Economic Council (PEBEC-NEC) Technical Working Group. GOVERNMENT OF EKITI STATE LAND OF HONOUR NIGERIA DAWN COMMISSION Development Agenda for WESTERN NIGERIA The result of Ekiti state is presented in Figure 1. The chart showed that entrepreneurs in the State are very satisfied with the business environment of the state in the technical and professional skills, security of the state and primary healthcare. They are satisfied with the structure of tax payment. However, they are dissatisfied with the process around land, property acquisition and development, starting a business, structures of state information, and promotion of investment, and very dissatisfied with the contract enforcements, transportations and electricity in the state.#1010 GOVERNMENT OF EKITI STATE LAND OF HONOUR NIGERIA The digitalisation of filing procedures, the of use of frontloading techniques and virtual arrangements for court sitting, as well as active promotion of alternate dispute resolution approach are important steps that would enhance contract enforcement and ease the difficulty currently faced by entrepreneurs. DAWN COMMISSION Development Agenda for WESTERN NIGERIA www#1111 Figure 1: Perception of Entrepreneurs on the Ease of Doing Business in Ekiti State Technical and Professional Skills Security primary Healthcare Paying Taxes Land, property Acquisition and... Starting a Business State Information Structures Investment Promotion Transportation Electricity Enforcing Contracts Very satisfied Satisfied Dissatisfied Very dissatisfied Ekiti State Ease of Doing Business Profile GOVERNMENT OF EKITI STATE LAND OF HONOUR. NIGERIA DAWN COMMISSION Development Agenda for WESTERN NIGERIA The report also gave an overview of the EODB ranking of Ekiti state amongst the Southwest states and the nation at large. As shown on Table 4, the Southwest Ease of Doing Business Ranking places Ekiti state at the 3rd position in the region and 18th in the national. This showcases the potential of the state to become an investment destination in the country if the main issues inhibiting the business and investment environment are addressed. As shown in the report, the three main factors cited as the limitations to the EoDB in Ekiti State are transportation, electricity and legal environment relating to enforcement of contracts.#12Table Table 4: Southwest Ease of Doing Business Ranking GOVERNMENT EKITI STATE LAND OF HONOUR NIGERIA 0 State Score Regional Ranking National 6.16 1 8 Ondo 5.57 Osun 5.35 2 3 15 18 Ekiti Ogun 5.34 4 19 5.28 5 20 Lagos 4.86 6 29 Oyo Source: PEBEC-NEC (2021)#1313 Suggested Pathways to improve the Investment Attractiveness and Economic Development of Ekiti State GOVERNMENT OF EKITI STATE •LAND OF HONOUR NIGERIA DAWN COMMISSION Development Agenda for WESTERN NIGERIA The investment attractiveness and economic development of Ekiti state can be achieved on the pedestal of transport infrastructural development and liberalization of the State's economy to potential investors across board. In addition to the State's proposed 'Agro-Cargo Airport' which is expected to have a long-term positive impact on agriculture and investment, there is also the need to improve the road transport networks into the State. The state needs to be opened up with good road network which would allow the vehicular movement of man and material in and out of the state. The transportation model in the state could spur the state into becoming an investment hub for both local and foreign investors.#1414 Suggested Pathways to improve the Investment Attractiveness and Economic Development of Ekiti State Apart from collaborating with development partners to achieve this, the state could also form economic integration with neighbouring states in pursuing composite development agenda that could be mutually beneficial. An important strategy to improve the road transportation infrastructure in the state is to form alliance with Ondo state who is currently constructing a 38km road from Araromi in Ondo state to Akodo, Lekki in Lagos state. Ekiti state would do well to commence an extensive and functional road network project from, say Ikere-Ekiti town to Araromi town in Ondo state. This would open up the state to investors from Lagos, Ondo states and other parts of the country. Such increased accessibility to the somewhat landlock state would be mutually beneficial. OF EKITI GOVERNMENT STATE NIGERIA LAND OF HONOUR. DAWN COMMISSION Development Agenda for WestERN NIGERIA#15OF EKITI GOVERNMENT 155 STATE NIGERIA oyu Jobele A1 Anifa Iwo Ibadan Ede Osogbo A122 Ife A122 Ikire LAND OF HONOUR. Figure 2: Google Map Showing Road network from Ikere Ekiti state to Araromi, Ondo State go-Iwoye ebu Ode Epe A121 Imobi JUVENILE Oye Ikole Ilesa Od Ado Ekiti Ikogosi lle Oluji Araromi Okeodo Okeigbo 3 hr 37 min 204 km Olkere lju-Itaogbolu Akure A122 Omo Forest Reserve Odigbo Ofe kajola Omotosho Usen A121 Araromi Abigi Okitipupa Google Okoro Udaken O + E30#16☐ Pot Potential Benefits of Improved transportation infrastructure For Ekiti State GOVERNMENT OF EKITI LAND OF HONOUR STATE NIGERIA development DAWN COMMISSION Development Agenda for WESTERN NIGERIA Increase the competitiveness index in the State improve trade flows between Ekiti and neighbouring states increase economic integration and enhance the globalization processes, A Increase the level of productivity and boost the economy of the State Increase the accessibility of the state to ready market Reposition the state as an investment destination in the country.#1717 GOVERNMENT OF EKITI TI STATE LAND OF HONOUR. Increase the Logistics Performance Index (LPI) of the State NIGERIA DAWN COMMISSION Development Agenda for WESTERN NIGERIA Increase the competitiveness index in the State Reduce logistic costs in the state Improve the managerial and physical effectiveness of logistics. Improve the timeliness of consignments in reaching destinations Enhance the ability to track and trace domestic and international consignments. Increases the relative ease and efficiency with which products can be moved into and out of the State.#18Ekiti Economic Summit Thank you DAWN COMMISSION Development Agenda for WESTERN NIGERIA Seye Oyeleye Director General DAWN Commission GOVERNMENT OF EKITI STATE LAND OF HONOUR NIGERIA