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African Development Bank to Inject $80 Million into Nigeria's Ekiti Knowledge Zone for Digital Innovation

African Development Bank to Inject $80 Million into Nigeria's Ekiti Knowledge Zone for Digital Innovation

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The African Development Bank Group has greenlit a significant $80 million loan to propel Nigeria's Ekiti Knowledge Zone project, a visionary initiative set to catalyze digital innovation and entrepreneurship. With a focus on world-class infrastructure, including a green technology park, this investment aims to generate 26,000 jobs and foster an annual economic contribution of around $14 million, marking a pivotal step towards Ekiti becoming a tech hub in Nigeria.

The African Development Bank Group has approved a substantial $80 million loan for the Ekiti Knowledge Zone project in Nigeria, aimed at advancing digital innovation and entrepreneurship. Led by the Ekiti state government, the initiative encompasses a 20-hectare green technology park and critical infrastructure. With a total project cost estimated at $94.8 million, the Zone aims to generate 26,000 jobs and contribute approximately $14 million annually to the economy. The Ekiti Knowledge Zone has received free zone status, providing incentives for investors, and the project will establish the Ekiti State Innovation Fund to support startups and innovation.


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