Osun State Governor, Ademola Adeleke, has announced the initiation of a comprehensive plan to develop the Osun State electricity market policy and legislation.
The governor revealed this information in response to the recent constitutional amendment granting state governments the authority to regulate the electricity market within their respective jurisdictions.
In a statement released by his spokesperson, Olawale Rasheed, on Monday, Adeleke directed establishing a technical committee tasked with formulating a detailed state policy plan for managing the power sector in Osun State.
The committee’s primary objective is to devise the Osun State Electricity Market Policy and draft an executive bill titled the Osun Electricity Act, which will serve as a legal framework for the state’s power sector.
The statement read, “The new policy will also include the creation of Osun State Electricity Regulatory Commission to issue licenses to private firms ready to engage in power production and regulate interface among operators within the power sector from the power generators, distributors and the consumers.
“The planned policy will also facilitate private sector investment in the state electricity sector, encourage alternative energy sources, from renewable to other green power sources.”
As part of the plan, it has been highlighted that electrification efforts will be undertaken to ensure power supply to all towns and villages in Osun. This will involve the implementation of various measures, including the establishment of mini-dams and the exploration of alternative sources of energy.
“The governor, who promised to inaugurate the committee soon, also expressed the intention of his administration to seek the support of the National Electricity Regulatory Commission on the state electricity market plans,” the statement added.