Ekiti State Governor, Biodun Oyebanji, announced on Thursday that his administration has granted operational licences to 14 electricity investors as part of efforts to secure energy independence for the state.
In a statement shared on his X handle, Oyebanji disclosed that the licensed investors include three distribution companies, four generation companies, two mini-grid providers, and five meter asset providers.
He described the move as a strategic step towards improving power generation, distribution, and reliable metering across Ekiti.
“This strategic move will enhance power generation, ensure efficient distribution, and provide reliable metering for our residents,” the governor stated.
Ekiti currently receives only about 20-25 megawatts from the national grid, far below the estimated 120 megawatts needed to meet local demand.
“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 explained.
The initiative aligns with the 2023 Electricity Law Enactment, which empowers states to decentralise electricity markets and issue licences to meet local energy needs more effectively.
Punch