Ekiti enlightens business owners on ease of doing business

The Ekiti State Government in a bid to further enhance socio-economic development of the state has unveiled various reforms put in place by the administration to fast track ease of doing business and attract more investors to the state.

Speaking  at an interactive session in Ado Ekiti with some leaders of business communities in the state, the Director -General Ekiti State Development and Investment Promotion Agency,  Damola Ajibade explained that the state government has improved on its ease of doing business conditions, a development she said had made the state a destination of choice for investors and business owners.

The interactive session which attracted stakeholders from the business community including the Ekiti State Chambers of Commerce (EKICCIMA), the State Internal Revenue Services, the Medium Enterprises Development Agency, (MEDA), the State Ministry of Investment, Trade and Industry, business owners, small and medium entrepreneurs, and others had discussions centred on the various initiatives put in place to enhance ease of doing business in the state.

Ajibade disclosed that the state government, through the steering committee on ease of doing business approved initial waiver for business registration, established automation of PAYE registration, introduced online payment of taxes through ERAS and instituted a small claim court for ease of access to justice.

According to her, “EKDIPA has been equipped and designated to serve a one stop shop to facilitate ease of doing business and provide necessary technical supports for investors and business owners in the state.”

Also speaking on other efforts of the government to support business owners, the Director General, Microfinance and Enterprises Development Agency (MEDA), Otunba Kayode Fasae revealed that the state government, under a new initiative known as CARES had provision to assist business owners in the payment of 60 per cent of loans borrowed during covid-19 and also provide financial support on operational costs.

He added that a total of 166,000 people have benefitted from the Federal Government’s Covid- 19 intervention loan, with another 7.000 awaiting disbursement through the scheme.

According to Fasae, the  State Government, through MEDA has conducted harvest training for over 12,500 participants out of which 700 have received start-up fund to start their businesses.

 “It is the responsibility of MEDA to assist all start-up businesses and to ensure that all business are registered because we know that the waiver is for a limited period.

The MEDA boss stressed the need for business owners to register their businesses to benefit from support schemes available to them, pointed out the need for each association to set up a monitoring and assessment team on how their members utilized the various loans disbursed to them.

Also the Commissioner for Investment, Trade and Industry, Aare Muyiwa Olumilua represented by the Permanent Secretary of the Ministry,  Ayodele Adeyanju, explained that his ministry was making efforts to set up a trade facilitation centre that would provide supports for importers and exporters in the state.