In a bold move to ensure that residents of Oyo state enjoy more supply of electricity without neccesarily relying on external forces, the state governor, Engineer Seyi Makinde on Friday afternoon signed the Oyo State Electricity Regulatory Commission Bill into law.
Recall that in 2023, President Tinubu signed the Electricity Act into law which establishes a framework to steer the post-privatization phase of the Nigerian Electricity Supply Industry (NESI) and promote private sector investments in the sector. The law empowers state governments can issue licenses to private investors who can operate mini-grids and power plants within the state.
Just last tuesday, Gov Makinde vowed to make Oyo top among states that will take advantage of the law for self sufficiency in electricity generation and supply. Speaking during the 20th Anniversary celebration of the British American Tobacco (BAT) Ibadan Plant, Makinde promised to sign the bill into a law, in no distant future. On Friday afternoon, he fulfilled that promise.
The obviously elated Makinde, himself announced the law signing ceremony on his verified twitter handle, @seyiamakinde. “As promised earlier in the week, I signed the Oyo State Electricity Regulatory Commission Bill into law today. This law will enable Oyo State generate, transmit and distribute electricity within the State.
“In my remarks during the signing, I said amendments of the constitution like these is what we mean when we advocate for fiscal federalism. In years to come as we work towards energy sufficiency, our people can hold State Governments accountable on the issue of electricity supply.” Makinde said
The 2023 electricity law removes the monopoly of power generation, transmission, and distribution from the federal government to state governments, private individuals, and companies.
