Electricity Market Law Will Boost Osun’s Economy – Governor Adeleke
Governor Ademola Adeleke has lauded the Osun State House of Assembly for passing the Osun State Electricity Market Regulatory Bill 2025, describing the legislation as a critical tool to stimulate economic growth and tackle the state’s chronic power challenges.
The bill, which scaled through its third reading during a plenary session in Osogbo on Monday, seeks to establish an Osun State Electricity Regulatory Commission. The new agency will be tasked with supervising electricity generation, transmission, and distribution activities within the state’s jurisdiction.
According to the Chief Press Secretary to the Speaker of the House, Olamide Tiamiyu, the bill empowers Osun to create a local framework for electricity market operations a move aligned with Nigeria’s newly decentralized electricity law, which permits states to manage their own power sectors.
Governor Adeleke, in a statement released on Tuesday by his spokesperson, Olawale Rasheed, emphasized that the law would unlock new opportunities in Osun’s energy landscape.
“This law opens up windows of opportunity for investors, particularly in off-grid electricity generation. It positions Osun as an emerging hub for energy innovation and investment,” the governor said.
He further noted that the law would diversify power sources and provide a structured regulatory environment aimed at addressing the persistent electricity shortages that have plagued Osun communities and industries for years.
“We are now empowered to regulate and attract independent power projects. This will strengthen our infrastructure, energize our industrial clusters, and ultimately boost job creation and wealth generation,” Mr Adeleke added.
The governor praised the state legislature for its swift passage of the executive bill, calling it a demonstration of a shared commitment to the state’s long-term economic transformation.
Analysts see the move as timely and strategic, particularly in light of Nigeria’s broader push for subnational control over energy resources. Stakeholders in the energy sector have also welcomed the development, saying it could encourage local innovation and improve electricity access in underserved areas of the state.
The bill is expected to be signed into law by Governor Adeleke in the coming days, paving the way for the formal establishment of the state’s electricity regulatory commission and the rollout of frameworks for licensing, tariffs, and safety standards.
With this legislative milestone, Osun joins a growing list of Nigerian states taking active steps to chart their own electricity futures under the newly reformed national electricity regime.
