Ekiti State seeks $500 million investment from Egypt to boost industrialization

Ebenezer Boluwade, the Commissioner for Agriculture and Food Security, stated that the Ekiti–Egypt Industrial Investment Mission generated opportunities with the potential to mobilize this investment. The five-day mission in Egypt involved the Ekiti delegation engaging with over 40 Egyptian industrialists, manufacturers, processors, agribusinesses, mining operators, and investors. This engagement resulted in eight Expressions of Interest and further commercial discussions across various sectors including agriculture, agro-processing, commercial farming, seed production, textiles, manufacturing, and solid minerals.

Boluwade emphasized building agricultural value chains to ensure reliable markets for farmers and access to required volumes for processors. Omotayo Adeola, the Commissioner for Investment, Trade and Industry, highlighted the state's focus on converting these expressions of interest into tangible industries, site visits, commercial agreements, capital deployment, factories, and jobs. Dr. John Ekundayo, Special Adviser to the Governor, Office of Transformation and Service Delivery, noted that the success of these engagements would be measured by their impact on employment, business growth, increased productivity, and new economic activity.

Bamidele Owoola, Founder of Welcome2Africa International, commented