The Ekiti State Government has formally requested a grant of N175.75 billion from Nigeria's Natural Resources Development Fund to finance key developmental projects aimed at diversifying the state's economy, particularly in the areas of agriculture, solid minerals, and tourism.
Governor Biodun Oyebanji made this known during a meeting with the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) held on Thursday in Ado-Ekiti.
The RMAFC delegation, led by Ambassador Desmond Akawor, visited the state to evaluate the feasibility of the proposed projects tied to the fund request.
Speaking through his Chief of Staff, Niyi Adebayo, Governor Oyebanji emphasized that the grant would help reposition Ekiti for sustainable development and economic independence, aligning with President Bola Tinubu's Renewed Hope Agenda.
"Ekiti is a state well known not just for education, but for integrity and honour," the governor said. "Historically, agriculture has been our economic backbone, employing the majority and contributing significantly to our GDP. But as the President has rightly emphasized, we must diversify the economy—and this funding will help us achieve that."
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Oyebanji highlighted the state's natural tourism assets, including hills, caves, and scenic landscapes, as potential revenue-generating ventures that the grant would help unlock. "The entire state is practically a tourism site," he noted.
Ambassador Akawor, who chairs RMAFC's Committee on Fiscal Efficiency and Budget, acknowledged Ekiti's potential and described tourism as a "goldmine". He commended the state's proposal and affirmed that the grant request falls under the 1.68% statutory allocation designated for natural resource development.
"The committee is impressed with what we have seen here, especially in the tourism sector," Akawor said. "Our goal is to support projects that will increase internally generated revenue and reduce dependence on federal allocations."
Other key officials present at the meeting included Commissioner for Budget and Economic Planning, Mr. Femi Ajayi; Commissioner for Agriculture and Food Security, Mr. Ebenezer Boluwade; Commissioner for Trade, Industry, Investment and Cooperatives, Mrs. Tayo Adeola; and Special Adviser to the Governor on Media, Mr. Yinka Oyebode, among others.
The RMAFC committee is expected to submit its findings and recommendations to the Federal Government for final approval of the grant.
