Ekiti Gov Oyebanji signs three Bills into law (Know These New Laws)

The Governor of Ekiti State Biodun Oyebanji today, June 5, signed three bills – Ekiti Rural Access Roads Authority Law, 2023, Ekiti State Road Fund Law 2023 and Ekiti State Wealth Fund Law into law.

Here are the things you need to know about these new laws:

1. EKITI RURAL ACCESS ROADS AUTHORITY LAW, 2023

(a). The Ekiti Rural Access Roads Authority law  [EKRARA] is for the purpose of the overall Management, Development, Rehabilitation, Reconstruction and Maintenance of class C and class D Roads in Ekiti State.

There are different classes of roads :

Class A : Federal Government roads

Class B : State Roads 

Class C : Local Government roads

Class D : Rural roads

 

(b). It would promote the sustainable development and operation of the Rural Road Sector. 

2. EKITI STATE ROAD FUND LAW, 2023

(a) The Ekiti State Road Fund law [ EKSRF]and the Ekiti State Road Fund Board and Administration [EKSRBA] is for the purpose of funding the Management, Planing, Development, Rehabilitation, Reconstruction and Maintenance of class B, class C and class D roads in  Ekiti State. 

(b). The establishment of  Ekiti State Road Fund Board and Administration [EKSRFBA] which shall be responsible for the Management of the Ekiti State Road Fund in accordance with the provision of this law, would promote the sustainable development and operation of class B, class C, and class D roads.

3. EKITI STATE WEALTH FUND LAW

 (a). The Ekiti State Wealth Fund law would, among other things, build a savings base for the indigenes and residents of the state; provide for investments in the promotion of research and development in modern technologies and innovations.

(b) It will provide stabilisation support to the State Government in times of economic stress as well as manage other funds and investments for the state.