The Ogun State Government is set to commission its own Electricity Distribution Company, a strategic move designed to bypass national grid bottlenecks and guarantee stable power supply for the state’s industrial and residential clusters.
Governor Dapo Abiodun disclosed this on Wednesday while receiving a high-powered World Bank delegation led by its Vice President, Ms. Galina Vincelette, in Abeokuta.
Highlighting energy as the primary catalyst for economic expansion, Governor Abiodun revealed that the state has already established the Ogun State Electricity Board to oversee the new regulatory environment.
This follows recent constitutional amendments that removed electricity from the exclusive legislative list, empowering states to generate, transmit, and distribute power.
“Power remains the biggest enabler of economic activities. We are working with strategic partners to generate and distribute electricity within the state,” Abiodun stated.
The Governor outlined a multi-pronged approach to energy security, noting that the state is actively pursuing multiple Independent Power Projects (IPPs) and is on the verge of constructing mini-grids across various locations to bridge the supply gap.
According to him, the launch of the state-owned distribution firm will complement these generation efforts, ensuring that power produced within Ogun is efficiently delivered to end-users to stimulate industrial growth.
In her remarks, the World Bank Vice President, Ms. Galina Vincelette, affirmed the institution’s readiness to support the state’s energy ambitions.
She noted that the Bank is keen on promoting public-private solutions, particularly in the electricity sector, to address infrastructure deficits.
While the meeting also reviewed the successes of the N5 billion investment in women empowerment and other economic recovery programmes like OGCARES and OGSTEP, the conversation remained anchored on infrastructure development as the engine for sustainable growth.
World Bank Country Director for Nigeria, Mr. Matthew Verghis, added that the Bank’s $17 billion portfolio in Nigeria would continue to prioritize job creation, which relies heavily on a stable power sector to thrive.