In a pragmatic move to pull Ekiti State out of the failing national grid, the government has issued licenses to three electricity distribution companies (DisCos), four generation companies (GenCos), and two mini-grid generation companies.
The initiative aligns with the 2023 Electricity Law, which empowers states to decentralize the electricity market and better meet local energy needs.
Gov. Biodun Oyebanji announced this development in a post on his official X-handle on Thursday.
He also disclosed that the state has licensed five-meter asset providers to help generate and distribute 130 MW of electricity to its residents.
To reduce reliance on the national grid and promote sustainable, locally managed energy solutions, electricity investors got a total of 14 licenses.
Oyebanji highlighted that the move will address local energy needs while stimulating the state’s electricity market growth.
He stated: “I am pleased to share an update on the progress we are making in Ekiti towards achieving energy independence.
“We have granted operational licenses to 14 electricity investors, which include:
3 distribution companies
4 generation companies
2 mini-grid generation companies, and
5 meter asset providers.
“This strategic move will enhance power generation, ensure efficient distribution, and provide reliable metering for our residents.
“Currently, Ekiti receives approximately 20–25 MW from the national grid, which falls short of our estimated requirement of 120 MW.
“Our goal is to reach 130 MW through a robust state grid, reducing our dependency on the national supply and promoting sustainable, locally managed energy solutions.”
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