The Governor of Ekiti State, Bioduna Oyebanji, has shared an exciting update on the state’s energy sector.

The governor announced that Ekiti has granted operational licenses to 14 electricity investors as part of a broader strategy to improve the state’s energy infrastructure.

This includes 3 distribution companies, 4 generation companies, 2 mini-grid generation companies, and 5 meter asset providers.

These licenses aim to strengthen power generation, streamline distribution, and ensure more reliable metering for residents, marking a major step forward in Ekiti’s energy development.

Currently, Ekiti receives around 20-25 MW of electricity from the national grid, which is far below the state’s estimated requirement of 120 MW.

This gap has often resulted in power shortages that affect both residents and businesses.

To address this, the state government has set an ambitious target of achieving 130 MW through a robust, locally managed state grid.

This will not only reduce dependency on the national grid but also empower Ekiti with more control over its energy future, fostering sustainability and stability.

The decision to decentralize electricity markets in Ekiti aligns with the 2023 Electricity Law Enactments, which were designed to give states the authority to manage their own electricity markets.

The law enables states to license providers who can meet the specific needs of their local communities, ensuring a more tailored and efficient power supply.

Governor Oyebanji emphasized the importance of this initiative for the future of Ekiti.

He expressed his confidence that this move will stimulate economic growth, create job opportunities, and improve the quality of life for all Ekiti residents.

With a more stable and reliable power supply, businesses in Ekiti will be able to thrive, contributing to the overall economic development of the state.

Additionally, residents will benefit from more consistent electricity, reducing the challenges posed by power outages and improving their daily lives.

Governor Oyebanji thanked everyone who believes in the state’s vision and progress, acknowledging the collective effort required to achieve such ambitious goals.