Oyo Attracts 30 Investors as Power Revolution Gains Momentum
Dibang Mary (Oyo)
No fewer than 30 investors have indicated interest in partnering with the Oyo State Government to develop its independent power project, the Oyo State Electricity Regulatory Commission has revealed.
The Commission’s Chairman, Daud Sangodoyin, made this known while briefing journalists on Wednesday in Ibadan.
Sangodoyin, who also serves as the Commissioner for Energy and Natural Resources, stated that the state government is considering approving three to four electricity providers to meet its energy demands. He added that plans are underway to include a hydroelectric power project at the Asejire Dam.
He explained that the establishment of the state’s electricity regulatory commission has given Oyo the authority to oversee electricity generation, transmission and distribution, as well as create its own electricity market.
The chairman noted that Nigeria’s power sector has struggled for decades due to poor management but expressed optimism that the new regulatory framework allowing states to control their electricity sectors would attract private investment and enhance consumer protection.
According to him, the commission will also ensure accountability among service providers and regulate tariffs.
“With the new regulatory framework in place, Oyo State aims to tackle its electricity deficit and make significant progress within the next two to three quarters,” he said.
Sangodoyin further disclosed that the Ibadan Independent Power Project is expected to ease electricity challenges in the state. The 12 megawatt project is projected to begin supplying power to key government institutions by June.
He also revealed that the commission has signed a Memorandum of Understanding with Shell to facilitate gas distribution in parts of Ibadan, a move expected to improve electricity supply.
Additionally, the commission has launched its website to provide updates on priority projects and highlight investment opportunities in the state.
Sangodoyin emphasized that efforts are ongoing to improve electricity access, street lighting and critical infrastructure across Oyo State.
Dibang Mary is an investigative Journalist based in Ibadan
