L - R: African Director, US Exim Bank, Rick Angiumi; Regional director Africa Development bank, Ebrima Faal; GM, SSA BT Global services, Kaith Mathews; Ekiti State Governor, Dr Kayode Fayemi; CEO Public Investment Corporation , Elias Masilela; and, Transnet Freight Rail, Siyabonga Gams and BBC’s, Lerato Mbele… during the discussion on “Infrastructure Deficit and Opportunities in Africa” at the on going Strategic Growth Forum Africa 2013 at the Convention Centre, Cape Town, South Africa.
Ekiti State Governor, Dr Kayode Fayemi has said that the state is committed to its plan to build a cargo airport, adding that the airport, when completed, would aid transportation of agricultural products to Lagos and other big markets in the country.
The Governor who spoke at the opening session of the Strategic Growth Forum Africa, 2013 in Cape Town, South Africa, said the main target of the state’s huge investment and partnership in agric business is to corner a sizeable portion of the Lagos food market.
The Lagos food market is put conservatively at N3 billion per day.
Governor Fayemi revealed that aside the airport , which will aid movement of goods and persons , the state has also concluded plans to set to build an agric conditioning centre near the airport.
Fayemi who addressed investors, financiers and businessmen from across the continent , said that Ekiti state is focusing more on cassava and rice cultivation and has provided incentives for its crop of young commercial farmers as well as international companies that are partnering with the state. Other areas of interests, according to him include the extractive industries, wood processing and eco tourism.
Stressing that state has put in place mechanism that will aid safety of investment, the governor said the state had put in place relevant laws that guarantee the safety of investment in the state, adding that the return of many international development agencies to the state is a proof that the state is a good place to do business.
“We have very good multi lateral relationship and this has led to the return of many development agencies, like DFID, World Bank, USAID, ADB and others who are partnering with us in many areas of development”
Fayemi said, adding that the low cost of living in the state is also an advantage to investors.
He explained that the state set up the Fountain Holdings as a special purpose vehicles that will drive its investment plans, adding that the activities of the company is devoid of the usual red tapism that characterize government activities.
On power generation, the Governor stated that the state is committed to independent power project where it intends to generate about 100 mw that can be devoted to the industrial sector.
Some of the concerns expressed by participants in the two- day conference which did a critical review of global economic trends in relations to African market, include the issue of power, oil, the growing influence of Chinese investment in the continent, technological transfer among others.
Governor Fayemi explained that the Chinese companies are being patronized by some state governments, including Ekiti, because of their efficiency. “The Chinese are good players, they face their business” he added.
Last modified: March 9, 2013
