The Oyo State Electricity Regulatory Commission has said that no fewer than 30 investors have expressed interest in partnering with the state in establishing its independent power project.
The chairman of the commission, Daud Sangodoyin, disclosed this while briefing journalists on Wednesday in Ibadan.
Mr Sangodoyin, who is also the Commissioner for Energy and Natural Resources, said that the government was considering approving three or four electricity providers to meet its needs, including a hydroelectricity project at the Asejire Dam in Ibadan.
He said that approval for the state government to have its own electricity regulatory commission has empowered it to manage its own electricity generation, distribution, and transmission, as well as establish its own electricity market.
The chairman expressed regret that the power sector in the country had faced numerous challenges over the past 60 years as a result of management issues.
Mr Sangodoyin, however, said that the new law, which empowered each state to regulate its electricity, would protect consumers and attract private investors to the sector in the state.
He further stated that the commission would ensure accountability of service providers and set tariffs.
“With the new regulatory framework in place, Oyo state aims to address its electricity deficit and make significant progress in the next two to three quarters,” the chairman added.
Mr Sangodoyin said that the Ibadan Independent Power Project (IIPP) was expected to provide solutions to electricity issues, with several key government buildings and institutions set to benefit from the 12-megawatt project by June
” The commission has signed a Memorandum of Understanding (MoU) with Shell to distribute gas in some parts of Ibadan, which is expected to alleviate some electricity distribution challenges,” the chairman said
He added that the commission’s website has been activated to provide information on the state’s priority plans, outlining areas where investors can participate.
According to him, the commission is working to improve access to electricity, street lighting, and other critical infrastructure across the state.
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