Governor Adeleke Hails Landmark Electricity Law as Economic Game-Changer for Osun

The Osun State House of Assembly has passed the highly anticipated Osun State Electricity Market Regulatory Bill 2025, a move expected to transform the state's power sector and stimulate economic growth. The bill, which received its third reading and was passed on Monday, July 28, 2025, sets the foundation for establishing an Electricity Regulatory Commission within the state.

Governor Ademola Adeleke has hailed the bill as a major tool to end the exploitation of electricity consumers in Osun State by current distribution companies, particularly the Ibadan Electricity Distribution Company (IBEDC). In a statement released by his spokesperson, Olawale Rasheed, the governor emphasized that the new law will diversify and regulate power generation sources, thereby addressing the long-standing power supply crisis bedeviling the state.

The legislation empowers the newly formed Osun Electricity Regulatory Commission to oversee and enforce regulations in the electricity market. Its duties will include licensing power generators, monitoring service delivery, resolving consumer complaints, and regulating the activities of electricity providers within the state. This regulatory framework aims to ensure the right energy mix by complementing traditional power sources with renewable energy, thereby expanding opportunities for off-grid and green energy investments in Osun.

Governor Adeleke underscored that the law signals “the era of exploitation and oppression” by electricity distributors is over. He encouraged the business community and prospective investors to anticipate improved service delivery and reliability in power supply, which are critical to economic activities and overall development in Osun State.

The House Speaker, Adewale Egbedun, announced that clean copies of the bill would be forwarded to the governor for assent. This development follows broader national efforts by the Nigerian Electricity Regulatory Commission (NERC) to decentralize electricity market management to the states, allowing them to control generation, transmission, and distribution within their own boundaries.

The passage of this law is widely viewed as a strategic step to achieve not only self-sufficiency in power supply for Osun State but also potential electricity export to neighboring states. It reflects the state's commitment to sustainable development and improved quality of life for its residents.

The Osun State Electricity Market Regulatory Bill 2025 represents a significant policy intervention aimed at revolutionizing the energy sector in the state, providing a clear regulatory environment that encourages investments, protects consumers, and enhances service delivery standards.

Comments

Thanksgiving: A time to count our blessings and cherish our loved ones

Credit: Megan Watson Thanksgiving is a national holiday celebrated in the United States on the fourth Thursday of November, marking a time for families and friends to gather and express gratitude for the blessings of the past year. The holiday's origins trace back to the early 17th century, with the most famous celebration occurring in 1621 when the Pilgrims and the Wampanoag people shared a harvest feast. However, it wasn't until 1863, during the Civil War, that President Abraham Lincoln proclaimed Thanksgiving a national holiday, aiming to unify the nation amidst turmoil. Over time, Thanksgiving has evolved into a secular celebration characterized by family gatherings, parades like the Macy's Thanksgiving Day Parade, and football games, while also heralding the beginning of the holiday shopping season with Black Friday following closely behind. Integrating thanksgiving and gratitude into daily life can enhance well-being and foster a positive mindset . Here are several ...

Jake Paul Defeats Mike Tyson in Controversial Showdown

In a clash that captivated the boxing world, Jake Paul emerged victorious over legendary heavyweight Mike Tyson in a highly publicized match held on November 15, 2024 , at AT&T Stadium in Arlington, Texas . The event, broadcasted live on Netflix , attracted a massive audience of 70,000 fans, eager to witness the spectacle of youth versus experience. The fight was marketed as a thrilling encounter, but it ultimately fell flat in terms of excitement. Paul, the 27-year-old social media star turned boxer, claimed a unanimous decision victory with scores of 80-72, 79-73, and 79-73 from the judges. However, many spectators and analysts criticized the bout for lacking intensity and drama. From the opening bell, Paul showcased his speed and agility, employing effective jabs and quick combinations to keep Tyson at bay. The former champion, now 58 years old and fighting for the first time in nearly two decades, struggled to find his footing. Although Tyson managed to land a few body shots ...

Take Control of Your Money: A Guide to Financial Literacy I

Credit: Carlos Muza Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management , budgeting , and investing . It provides the essential foundation for a smart relationship with money and promotes a lifelong journey of learning about the financial aspects of life. Financial literacy encompasses a range of competencies, including understanding financial principles such as earning, saving, investing, and borrowing, as well as comprehending concepts like interest rates, inflation, and financial risk management. Why Financial Literacy Is Important Financial literacy is crucial because it empowers individuals to make informed and effective decisions with their financial resources. Achieving financial literacy is especially important in today’s society due to facets of life such as student loans , mortgages , credit cards , investments , and health insurance . Who Needs Financial Literacy? Anyone who wants to be ...

ADEGOLD

Search This Blog