Edo State Encourages Businesses to Capitalize on New Autonomous Energy Initiatives

n n

The Edo State Government has urged local and foreign investors to take advantage of its decentralised electricity market reforms, describing the model as a catalyst for investment, industrialisation and sustainable economic growth.

n

The Commissioner for Power, Paul Usenbo, made the call while representing Governor Monday Okpebholo at a high-level African Union energy meeting in Addis Ababa, Ethiopia.

n

Speaking to journalists on Sunday in Benin, Usenbo said Edo’s participation at the meeting was aimed at showcasing the state’s energy reforms to development partners, investors and policymakers, while positioning it as a preferred destination for energy investments in Africa.

n

He said the state’s energy agenda aligns with the African Union’s Agenda 2063, the African Continental Free Trade Area, the Mission 300 initiative to expand electricity access across the continent, and the United Nations Sustainable Development Goal 7 on affordable and clean energy.

n

According to him, the engagement provided Edo with an opportunity to forge strategic partnerships, attract development financing and strengthen collaboration with multilateral institutions committed to expanding reliable and sustainable electricity access across Africa.

n

Usenbo attributed Edo’s invitation to the meeting to the progress recorded under Governor Okpebholo’s administration, particularly the implementation of the Edo State Electricity Law, the proposed 100-megawatt Ologbo Independent Power Project, the expansion of renewable energy initiatives, the promotion of rural electrification and the creation of an investor-friendly regulatory environment that encourages private sector participation.

n

He noted that discussions at the meeting focused on innovative financing for energy infrastructure, accelerating renewable energy deployment, strengthening intra-African trade through the AfCFTA, supporting small and medium-sized enterprises and expanding access to affordable electricity.

n

According to him, the outcomes reinforced Edo’s strategy of leveraging public-private partnerships to deliver sustainable energy infrastructure and unlock economic opportunities.

n

“Good governance is about creating opportunities, and that begins with reliable electricity. In Edo State, under the leadership of Governor Monday Okpebholo, we are implementing bold reforms that attract investment, expand access to power and empower businesses to grow.

n

“Our message at the African Union is clear: decentralised energy is the key to industrialisation, job creation and inclusive prosperity. Edo State is demonstrating that with visionary leadership and strong partnerships, Africa’s energy future is not only possible—it is already unfolding,” he said.

n

The commissioner said the state would leverage the engagements and knowledge gained from the AU meeting to accelerate electricity generation, expand renewable energy and mini-grid projects, strengthen the regulatory framework and unlock additional financing to improve energy security and electricity access across Edo State.

n

He added that the reforms were expected to increase electricity access, provide reliable power for homes, businesses and industries, stimulate private investment in the energy sector, improve the ease of doing business, create jobs, promote economic growth and reduce carbon emissions through wider deployment of renewable energy technologies.

n

Usenbo said the ultimate objective was to position Edo as Nigeria’s leading sub-national electricity market and a model for decentralised, investment-driven power sector reform across Africa, demonstrating how sound legislation, visionary leadership and strategic partnerships can transform the energy sector into a driver of enterprise, innovation and inclusive economic development.

n n