Governor Ademola Adeleke has described the newly passed Osun Electricity Bill as a strategic move to revamp the state’s economy and resolve the long-standing electricity supply challenges.

Speaking in response to the bill’s passage by the Osun State House of Assembly, Governor Adeleke noted that the new law will unlock vast investment opportunities, particularly in off-grid power generation.

He emphasized that the state is now poised to attract investors in both renewable and conventional energy sources.

“The new law will ensure the right energy mix. Renewable energy will complement traditional energy sources. Osun State is open to new energy sector investors,” the Governor stated.

Governor Adeleke highlighted that the legislation will diversify, liberalize, and regulate power generation in the state, thereby tackling what he described as a chronic power supply crisis. He added that the bill will usher in an era of improved service delivery and customer protection.

He also announced the establishment of the State Electricity Regulatory Agency under the new law. The agency will oversee the electricity market, handle consumer complaints, and regulate the activities of electricity distribution companies operating in the state.

“The regulatory commission will be addressing critical issues relating to customer-service provider complaints. It will grant licenses to power generators among others. The commission will not allow the current maltreatment of electricity users in the state,” he said.

Governor Adeleke also used the opportunity to issue a stern warning to the Ibadan Electricity Distribution Company (IBEDC), stating that the era of exploitation and poor service in Osun State is coming to an end.

He further disclosed that a formal signing ceremony for the bill into law will be held soon, with key stakeholders and the business community expected to attend