Ekiti State Governor, Biodun Oyebanji, has issued licenses to 14 electricity firms as part of a strategy to achieve energy independence. Announcing the development on Thursday, Oyebanji revealed that the licensed firms comprise three distribution companies, four generation companies, two mini-grid providers, and five meter asset providers. This initiative aims to enhance power generation, distribution, and metering across the state.
Ekiti currently receives about 20-25 megawatts from the national grid, well below the estimated 120 megawatts needed. The new strategy aims to develop a local grid with a target of reaching 130 megawatts, reducing reliance on national supply. This move is supported by the 2023 Electricity Law, allowing states to decentralize electricity markets to better meet regional energy demands.
