Ekiti State Governor, Biodun Oyebanji, on Thursday, revealed that his administration has issued operational licenses to 14 electricity investors in a bold bid to drive energy self-sufficiency for the state.
This move, part of an extensive strategy to improve Ekiti’s energy landscape, seeks to bolster local power generation and distribution, directly addressing the long-standing supply shortfall.
In his statement shared on his official X account, Governor Oyebanji specified the structure of the licensed group, highlighting that it comprises three distribution companies, four generation firms, two mini-grid providers, and five meter asset providers.
These partnerships are designed to create a diversified, local energy framework to meet Ekiti’s unique electricity needs.
“This strategic move will enhance power generation, ensure efficient distribution, and provide reliable metering for our residents,” the governor emphasized, underscoring the importance of the new energy plan.
Currently, Ekiti State relies on only 20 to 25 megawatts from the national grid—far below the estimated 120 megawatts required to meet the demands of its residents and businesses.
This shortage has led to intermittent outages and has stunted economic growth within the state.
Oyebanji explained that Ekiti’s energy ambitions target 130 megawatts of locally managed power through an independent state grid, which would substantially reduce dependence on the national grid and offer greater energy stability.
“Our goal is to reach 130 megawatts through a robust state grid, reducing our dependency on the national supply and promoting sustainable, locally managed energy solutions,” Oyebanji elaborated, highlighting the potential economic and social benefits of energy autonomy for Ekiti.
The announcement aligns closely with Nigeria’s recent 2023 Electricity Law, which grants states the authority to decentralize their electricity markets and issue licenses to fulfill regional energy requirements more effectively.
By harnessing this legal framework, Ekiti aims to set a precedent for other Nigerian states, demonstrating how localized energy solutions can bridge gaps left by the centralized system and promote regional growth.
As Ekiti moves towards this ambitious energy transformation, Oyebanji’s administration remains committed to forging a resilient, locally driven energy sector capable of meeting future demands and sustaining development across the state.
