By Adeyinka Adeniran
Governor Seyi Makinde of Oyo state have said plan is underway to launch a 500megawatts solar power project in Itesiwaju local government area of the state to boost power supply before the end of his administration.
The move, according to the governor will enable the state to generate its own electricity locally and also be able to export same to other countries.
He however called on investors in the energy sector to partner with the state, noting that there is a huge energy market in the state.
He made the disclosure while commissioning the first phase of the 11 Megawatts Ibadan Hybrid Power Plant, the state’s first-ever Independent Power Project, at the Power House, Secretariat, Agodi, Ibadan.
The Nation reports that the first phase of the project comprises 1 megawatt solar power and 4 megawatts of gas-fired power generator.
The power plant, a private investment under the Build, Own, Operate and Transfer (BOOT) model was started two years ago, as parts of the governments effort at contributing to the overall development of the state.
Makinde said: “We are here to commission the first phase of a project that I believe would serve as the fulcrum that is pivotal to the future development in our dear state.
“This power plant is 100 per cent private investment, because the government doesn’t have the money to do everything. But as a government, we provided the enabling environment for investors to know that we are serious people.
“We have invested in road construction, interconnecting all the zones so that development spreads across the state.
“We have focused on agribusiness so that investors come into our state through Private Public Development Partnership. We have invested in security so that we can see our dear state as one of the best investment destinations in Nigeria.
“We have taken strategic steps to reduce our infrastructure deficit and the result has been the growth of our economy. Our GDP grew by about 90 per cent — from 2.75trn in 2019 to N4.05trn as of 2022.
“But as we speak to these investors, they always talk about one aspect of the economy that should be an absolute game changer, having reliable and uninterrupted power supply. It’s a big deal.
“I know where we ought to be as a nation in terms of capacity to generate and distribute electricity, but we are nowhere near that place. That’s why all over the place, we have generators. So, when we had the groundbreaking ceremony here, it became clear to us to go from growth to a game changer for our economy to go to scale, a point where you are just using what you have to stretch the envelope.
“The groundbreaking was done on Saturday, 11th of December, 2021. This was two years before the Federal Government gave the go ahead for states to have powers to generate, transmit and distribute their own power.
“Now, as a state, we can look at our own power requirements and bridge the gap without looking towards anyone else. And this is exactly the trajectory we are on in Oyo State.
“We took advantage of the changing times and worked with the House of Assembly. In February this year, we signed the Oyo State Electricity Regulation Bill into law. So, it is in force now.
“We wasted almost a year trying to get approval from the Nigeria Electricity Regulatory Commission for this power plant. But for the next power plant, it is now under our own control. It won’t take one month. I am saying to investors now that the coast is clear.
“So, today, we are here to commission the first phase of the IPP. I thank our partners for believing in us, because what you have done is to put in your money with the hope that you will recover it from our monthly payment. I give you the assurance that we will not default.
“With the completion of this phase, Oyo State has gone from producing electricity at the mini-grid stage to 5MW electricity with 4MW gas and 1MW of solar. You may be thinking that the 5MW is low but let us put this in perspective.
“Oyo State receives an average of 80MWatts from the national grid. The 5MW is roughly 7 per cent. We may be going to 500MW but, today, we have taken a step.
“We are working as a government to launch a 500 Megawatts Solar Power Project in Itesiwaju Local Government Area of the state. This will enable the state to generate its own electricity locally and also be able to export same to other neighbouring countries.”
The governor described the IPP as a game changer, noting that there are, indeed, better days ahead for Oyo State economically.
He said, “This is an absolute game changer. We signed an agreement with Shell and they have welded the first pipe and the $100m investment is well on its way. This is a direct investment that is not going through anybody.
“Truly, there are better days ahead for the Oyo State economy and all of us here are playing a part in making history. As I said, we are not stopping here. Even if they want to stop us, we won’t stop because we are well on our way. So, we are seeking more investors in the energy sector from the state and there is a market for that.”
