Oyo State has opened its electricity market to private investors, with nearly 30 showing interest through the Oyo State Electricity Regulatory Commission (OYSERC). The state currently generates 182 megawatts but requires a minimum of 520 megawatts for economic growth. Dahud K. Shangodoyin, commissioner for Energy and Mineral Resources and acting chairman of OYSERC, disclosed that an additional 12 megawatts from the Ibadan Independent Gas Project will bring supply to about 194 megawatts. The administration of Governor Seyi Makinde aims to increase generation to 300 megawatts by the second quarter of 2027.
Shangodoyin said the 120-megawatt expansion forms part of Omituntun 2.0, the governor's development agenda, and marks a shift from erratic power supply to a structured, integrated system. The state has signed a memorandum of understanding with Shell for gas supply and plans to license three or four new electricity providers. OYSERC is now the sole regulator of electricity in the state, empowered by the Electricity Act 2023, and will require IBEDC and other operators to obtain licenses. Residents are advised to direct electricity complaints to OYSERC.
Governor Seyi Makinde is betting that localised power generation can bypass Nigeria's national grid failures, but delivering 300 megawatts by 2027 demands more than MoUs and announcements. The real test lies in execution—past state-led energy promises have collapsed under bureaucracy and funding gaps. If Oyo pulls this off, it could reshape how Nigerians access electricity, but until meters register the extra watts, it remains a plan, not progress.
