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Oyo State Governor, ‘Seyi Makinde, has unveiled plans to launch a 500-megawatt solar project, leveraging highly concentrated sun energy in the state.
This was revealed during the commissioning of the first phase of the 11-megawatt Ibadan Hybrid Power (IBHP) at the Power House, Secretariat, Ibadan.
According to the governor, the power plant, a private investment under the Build, Own, Operate and Transfer (BOOT) model, which was started two years ago, would contribute to the overall development of the state as part of his administration’s efforts to expand the state’s economy.
Governor Makinde, expressed his commitment to transforming the highly concentrated sun energy in Igbojaye, Itesiwaju Local Government Area, into an international solar energy project hub.
He said the initiative is part of his administration’s efforts to address the energy deficit in Oyo State by creating a conducive environment for power investors.
He 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.”
In his remarks the state Commissioner for Energy and Mineral Resources, Seun Ashamu, described the initiative as a reflection of Governor Makinde’s vision for energy self-sufficiency in the state.
Reacting, Speaker, Oyo State House of Assembly, Honourable Adebo Ogundoyin, described the Hybrid Power Plant project as a “giant leap” in the quest of the State to have energy sufficiency.
The Speaker said the project is another testament to Governor Makinde’s visionary leadership in the State.
According to the Speaker, with this project, Oyo State has become a model for energy innovation in Nigeria, and this will attract investors and drive economic growth in our dear State.
“This is a critical step towards achieving our goal of making Oyo State a hub for economic growth and development.” Oyo Speaker said
The 5MW integrated power plant, which comprises 1MW solar power and 4MW natural gas, will provide electricity to the Secretariat, 12 healthcare facilities, a sports complex, judicial complexes, and selected schools.
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