Ekiti Knowledge Zone: AfDB Pushes Private-Sector Management, Investment DriveThe African Development Bank (AfDB) has intensified efforts to attract private-sector investment and establish a sustainable management structure for the Ekiti Knowledge Zone (EKZ), as part of measures to accelerate the project’s implementation and strengthen its contribution to the state’s economy.
The move followed the Bank’s mid-term review mission of the project, which took place from November 2 to 6, 2026, during which the AfDB delegation held discussions with the Ekiti State Government and PricewaterhouseCoopers (PwC) on a proposed Public-Private Partnership (PPP) framework and the establishment of a Special Purpose Vehicle (SPV) to manage the zone.
The engagement focused on developing a private-sector-led operational model, determining the governance structure of the proposed SPV, attracting investors and ensuring the sustainable operation of the various innovation and enterprise hubs within the zone.
The AfDB delegation was led by Rosemond Offei-Awuku, while the EKZ Project Coordinator, Ms Lolade Olutola, led the project team.
The Ekiti State Commissioner for Finance, Mr Akin Oyebode, also participated in the engagement.
During the mission, the team inspected the project site to assess ongoing design and construction works being handled by the China Civil Engineering Construction Corporation (CCECC).
The delegation also visited the Ekiti State Agro-Allied International Cargo Airport, which is expected to complement the development of the Knowledge Zone by supporting economic activities and investment opportunities.
The review further examined key implementation areas, including project management, procurement, financial management, disbursement, environmental and social safeguards, gender inclusion, private-sector participation and project risks.
As part of efforts to strengthen institutional participation, the AfDB team visited Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti; Ekiti State University, Ado-Ekiti; and the Federal Polytechnic, Ado-Ekiti, to assess the involvement of beneficiary institutions in the project.
The mission also consulted Project Affected Persons on the implementation of the Resettlement Action Plan, including resettlement commitments, livelihood restoration initiatives and concerns raised by affected stakeholders.
The Ekiti State Government, under Governor Biodun Oyebanji, reaffirmed its commitment to the successful implementation of the project, describing it as a strategic investment in innovation, technology, entrepreneurship, job creation and economic transformation.
The Ekiti Knowledge Zone is a flagship development initiative designed to position the state as a centre for technology, research, innovation and enterprise.
Located on approximately 208 hectares between Ago-Araromi in Ado-Ekiti and Ijan-Ekiti in Gbonyin Local Government Area, the project is being developed as a special economic zone expected to attract local and international investors.
The project is supported by an 80-million-dollar loan from the African Development Bank, alongside 14.8 million dollars in counterpart funding from the Ekiti State Government.
