By Iyabo Adebisi
The Oyo State government has launched a process to establish its own electricity market, an initiative that aims to enhance energy independence, revitalise the economy, and achieve 100% power coverage across the state by 2035.
The Commissioner for Energy, Professor Dahud Sangodoyin, disclosed this plan during a stakeholder engagement meeting on the Draft Oyo State Electricity Policy and Electricity Bill in Ibadan.
Professor Sangodoyin stated that reviewing the draft bill is a crucial step as it will establish a legal and regulatory framework to empower the state to issue licenses for the transmission, distribution, and generation of energy within its borders.
The commissioner outlined a strategic roadmap with short, mid, and long-term goals.
He said the short-term plan involves opening the market to private sector investment immediately after the law is enacted to enable local generation and distribution of electricity.
Professor Sangodoyin also stressed Governor Seyi Makinde’s commitment to leveraging improved electricity access to raise the standard of living and drive economic growth.
In his remarks, the Commissioner for Justice, Mr. Abiodun Aikomo, emphasized the urgent need for a modern legal framework.
He stated it must align with current realities in the power sector and empower the state to manage generation, distribution, and regulation more effectively.
Mr. Aikomo explained that the new law would address the entire market ecosystem, which includes licensing for independent operators and investors, theft prevention, granting regulatory powers, and promoting clean energy.
The proposed bill includes key reforms such as strengthening the state’s regulatory commission, encouraging renewable energy development, providing legal backing for prosecuting electricity offenses, and streamlining existing electricity-related laws.
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