OKPEBHOLO GOVERNMENT PROMOTES 100MW OLOGBO POWER PROJECT, RENEWABLE ENERGY AND PRIVATE SECTOR INVESTMENT
The Edo State Government has called on local and international investors to take advantage of the state’s ongoing electricity market reforms, saying the move is aimed at attracting fresh investment, supporting industries and improving reliable power supply across the state.
The state Commissioner for Power, Paul Usenbo, who represented Governor Monday Okpebholo at a high-level African Union energy meeting in Addis Ababa, Ethiopia, said Edo was positioning itself as an investment destination for businesses seeking opportunities in the electricity and renewable energy sectors.
Speaking to journalists in Benin City on Sunday, Usenbo said the state used the African Union engagement to present its energy reforms to development partners, investors and policymakers while exploring opportunities for financing and technical partnerships.
According to the commissioner, Edo’s electricity reform agenda is being developed in line with broader African and global efforts to expand access to affordable, reliable and sustainable electricity.
He said the state’s plans are connected to the African Union’s Agenda 2063, the African Continental Free Trade Area, the Mission 300 electricity-access initiative and the United Nations Sustainable Development Goal 7, which focuses on affordable, reliable, sustainable and modern energy.
Usenbo said the state’s participation in the meeting also provided an opportunity to discuss possible partnerships with multilateral institutions and private investors interested in energy infrastructure and electricity generation.
He identified the Edo State Electricity Law, the proposed 100-megawatt Ologbo Independent Power Project, renewable energy programmes and rural electrification initiatives among the major components of the administration’s energy strategy.
The commissioner said the reforms were designed to create a regulatory environment where private investors could participate more effectively in electricity generation, distribution and other areas of the power value chain.
He maintained that Edo could not achieve meaningful industrial growth without addressing its electricity challenges, stressing that reliable power remains critical to businesses, manufacturers, small and medium-sized enterprises and households.
“Good governance is about creating opportunities, and that begins with reliable electricity. In Edo State, under the leadership of Governor Monday Okpebholo, we are implementing bold reforms that attract investment, expand access to power and empower businesses to grow,” Usenbo said.
He added that the state’s message at the African Union meeting was that decentralised energy could play a major role in industrialisation, job creation and inclusive economic development.
The commissioner said Edo was also looking at innovative financing models that could support energy infrastructure while reducing pressure on government resources.
He explained that the state wanted to use public-private partnerships to bring more investment into the electricity sector and develop projects capable of providing dependable power for communities and businesses.
According to him, discussions at the African Union meeting covered renewable energy deployment, energy infrastructure financing, electricity access, intra-African trade, support for small businesses and the role of the private sector in Africa’s energy transition.
Usenbo said the knowledge and partnerships gained from the engagement would be used to strengthen Edo’s electricity strategy and attract additional funding into the sector.
He said the state government would continue to pursue electricity generation projects, renewable energy initiatives and mini-grid development, particularly in areas that remain poorly served by existing electricity infrastructure.
The commissioner also said the government would continue working on the regulatory framework required to make the state’s electricity market attractive to investors.
He said the objective was not simply to generate more electricity but to build an energy system capable of supporting economic activities across Edo.
According to him, improved electricity supply would help businesses reduce their dependence on expensive alternative power sources, improve productivity, encourage new investments and create employment opportunities.
The government also expects greater deployment of renewable energy technologies to support rural communities and reduce dependence on traditional energy sources.
Usenbo said the administration’s long-term ambition was to make Edo one of Nigeria’s leading sub-national electricity markets and a reference point for decentralised energy development in Africa.
He maintained that a properly structured electricity market could help unlock opportunities in manufacturing, agriculture, technology, commerce and other sectors of the economy.
The commissioner further said stronger electricity infrastructure would improve the ease of doing business and make Edo more attractive to investors looking for locations with better energy security.
He called on investors, development partners and private-sector operators to study the opportunities emerging from Edo’s electricity reforms and work with the state government in developing sustainable energy solutions.
The government’s position places electricity at the centre of its wider economic development strategy, with the proposed Ologbo Independent Power Project and renewable energy initiatives expected to form part of efforts to increase power availability.
IBN News reports that the success of the reforms will depend on effective implementation, sustained investment, regulatory clarity and strong cooperation between the Edo State Government, the Federal Government, private investors and development partners.
The state government says its ultimate goal is to create an electricity market that supports homes, businesses and industries while opening new opportunities for investment and employment across Edo State.
