Ekiti State has marked a transformative milestone in its journey toward energy independence by issuing operational licenses to 14 electricity investors. This landmark development is expected to bolster power generation, improve distribution efficiency, and secure reliable metering solutions for residents across the state.
Announcing the new initiative, the Governor of Ekiti State, Biodun Oyebanji, highlighted the diversity of licensed operators, which include three distribution companies, four generation companies, two mini-grid generation firms, and five meter asset providers. “These strategic partnerships are set to bridge the power deficit, facilitate efficient distribution systems, and ensure that Ekiti’s residents receive dependable energy services,” Governor Oyebanji stated.
Currently, Ekiti receives only 20-25 megawatts (MW) from the national grid—far below the state’s estimated requirement of 120 MW. Addressing this shortfall, Governor Oyebanji emphasized the state’s goal of achieving 130 MW through a dedicated state grid. “Our aim is to develop a robust, locally managed energy network, reducing our dependency on the national grid and providing solutions that truly meet Ekiti’s unique needs,” he explained.
This initiative also aligns with the 2023 Electricity Law, which empowers states to decentralize their electricity markets and license providers tailored to local demands. Governor Oyebanji affirmed that Ekiti’s proactive strategy reflects a new era of autonomy in energy governance, leveraging local resources and expertise to build a resilient power infrastructure.
The Ekiti State Government, in Governor Oyebanji’s statement, expressed deep gratitude to all stakeholders, partners, and residents who share in this vision of a brighter, self-reliant Ekiti. “Together, we are laying a foundation for sustainable economic growth, job creation, and a better quality of life for every resident in Ekiti,” he concluded.
