Fayemi reassures on enabling environment for business
From Victor Akinkuolie Ado-Ekiti
Ekiti State Governor, Kayode Fayemi revealed plans of his administration to establish and strengthen private sector relationship with the International Finance Corporation (IFC), with a view to driving sustainable development in the State.
The IFC is an international financial institution of the World Bank that offers investment, advisory and asset management services to encourage private sector development in developing countries.
Fayemi made the plan known while playing host to the Country Manager, IFC, Eme Essien Lore, in his office in Ado-Ekiti. He identified the private sector as very key in driving the sustainability of government projects and initiatives and assured that the state government would stand as guarantors to promising private sector entities that intend going into partnership with IFC.
He explained that the idea of fostering private sector partnership with IFC was to provide opportunities and support for more investors to establish and drive sustainable businesses in the state.
The governor also disclosed to the IFC boss, the achievements of his administration in providing key infrastructural development that would encourage private sector businesses to thrive in the state.
Fayemi mentioned that the state government was already in partnership with development partners like the World Bank, African Development Bank, Islamic Development Bank and other agencies in building its infrastructure development.
He added that his administration in a couple of weeks would sign Memorandum of Understanding (MoU) with Transmission Company of Nigeria (TCN) to establish two sub-stations in the State to increase power supply to investors.
According to him, ” if we can smoothen that path into relationship with IFC, it will also provide a relief to us to focus on development in an institutional manner while we are also encouraging private sector players to thrive.