Ekiti Records Lowest Food Inflation Rate in Nigeria, Says Oyebanji
Ekiti State Governor, Biodun Oyebanji, says the state’s Gross Domestic Product, GDP, is projected to reach 8.8 trillion naira, following growth in trade, agriculture and other sectors of the economy.
Oyebanji stated this while delivering his State of the State Address at the Ekiti State House of Assembly in Ado-Ekiti, said Ekiti recorded the country’s lowest food inflation rate, attributing the development to his administration’s investment in agriculture and initiatives aimed at making food affordable.
Oyebanji attributed the economic growth to increased activities in trade and agriculture, which he said jointly account for about 60 per cent of the state’s economy.
On revenue generation, the governor said Ekiti’s internally generated revenue rose from 8.7 billion naira in 2022 to 27.1 billion naira in 2025.
He added that the state generated 15.6 billion naira as of June 2026 and was targeting about 32 billion naira by the end of the year.
Oyebanji said the state recorded an increase of 62.13 per cent in internally generated revenue in 2025, according to data from the Joint Revenue Board.
On food security, the governor said his administration had established the Ilu Eye Aggregation and Trading Company and introduced Ounje Ekiti retail outlets to improve access to affordable food.
He said the outlets currently sell locally produced garri, beans and rice, adding that plans were underway to extend them to other local government headquarters.
The governor also disclosed that his administration had disbursed 11.7 billion naira in gratuities to 3,642 state pensioners, alongside 36.6 billion naira in monthly pensions between October 2022 and August 2026.
He added that 1.14 billion naira had been paid to clear outstanding pension arrears covering July to September 2018.
In his remarks, the Speaker of the State House of Assembly, Adeoye Aribasoye, commended the working relationship between the executive and legislative arms of government.
Aribasoye said the cooperation had facilitated lawmaking and governance, while also praising the governor for the construction of a modern Assembly complex and the digitisation of legislative operations.