Governor Seyi Makinde of Oyo State has announced plans to soon sign into law the bill establishing the Oyo State Electricity Regulatory Commission.
Speaking during the 20th Anniversary celebration of the British American Tobacco (BAT) Ibadan Plant on Tuesday, Governor Makinde emphasized the significance of achieving energy sufficiency in the state, a key objective of his administration.
He expressed readiness to collaborate with BAT’s Ibadan Plant to advance progress in enhancing energy sufficiency.
Makinde highlighted the forthcoming commissioning of a 1.4-megawatt solar plant as aligned with the state’s goals, emphasizing the importance of energy sufficiency in his administration’s agenda.
Furthermore, the Governor revealed plans to commission 11 new power plants, predominantly gas-powered with one operating on solar energy. He commended BAT for its contributions to the economic development of the state and the nation as a whole.
However, Governor Makinde referenced the Electricity Act signed into law by President Tinubu upon assuming office last year. The Act establishes a framework to guide the post-privatization phase of the Nigerian Electricity Supply Industry (NESI) and encourages private sector investment in the sector.
Notably, the law allows state governments to issue licenses for mini-grids and power plants within their jurisdiction, thereby decentralizing power generation, transmission, and distribution.
