As parts of efforts to create direct and indirect employment and to boost its industrialization drive, the Ekiti State Government has disclosed that it is eyeing investment worth $500m from Egypt.

The Commissioner for Agriculture and Food Security, Ebenezer Boluwade who spoke in a statement in Ado Ekiti on Sunday, said that the five-day mission, which took place in Egypt last month, brought the Ekiti delegation into engagement with over 40 Egyptian industrialists, manufacturers, processors, agribusinesses, mining operators and investors.

Boluwade stated that the Ekiti–Egypt Industrial Investment Mission “generated a pipeline of opportunities with the potential to mobilise up to US$500m in industrial and trade investment in the state.”

He added that the engagement resulted in eight Expressions of Interest and further commercial engagements across agriculture, agro-processing, commercial farming, seed production, textiles, manufacturing and solid minerals.

 “We want to build agricultural value chains where farmers have reliable markets, processors have access to the volumes and quality they require, and more of the value created from our agricultural resources remains within Ekiti.

“Connecting production to industry is central to our food security, employment and economic development agenda.”

The Commissioner for Investment, Trade and Industry, Omotayo Adeola, said it was time the state moved from expression of interest to having industries on the ground, adding, “Our focus now is conversion – moving from Expressions of Interest to site visits, commercial agreements, capital deployment, factories and jobs.

“Ekiti is open to serious industrialists and investors from Egypt and across the world who are prepared to build productive businesses within the state,” she said.

Also speaking, the Special Adviser to the Governor, Office of Transformation and Service Delivery, Dr John Ekundayo, ‎said, “The true measure of these engagements will be their impact on the ground”.

He listed the expected impact to include employment, stronger businesses, increased productivity and new economic activity.

Ekundayo said, “Our responsibility is to ensure that credible investors can move efficiently from interest to implementation.”