Edo State Beckons Investors to Its Revamped Decentralised Electricity Market

The Edo State Government is actively encouraging both local and international investors to capitalize on its recently introduced decentralised electricity market reforms. The state describes this innovative model as a crucial driver for attracting investments, fostering industrialization, and achieving sustainable economic growth.

Paul Usenbo, the Commissioner for Power, conveyed this invitation while representing Governor Monday Okpebholo at a high-level African Union energy meeting held in Addis Ababa, Ethiopia. Speaking to journalists on Sunday in Benin, Usenbo clarified that Edo's participation aimed to highlight the state's progressive energy reforms to key development partners, investors, and policymakers. This strategic move is intended to position Edo as a premier destination for energy investments across the African continent.

Usenbo emphasized that Edo State's energy agenda is in alignment with the African Union’s Agenda 2063, the African Continental Free Trade Area (AfCFTA), the Mission 300 initiative (focused on expanding electricity access throughout Africa), and the United Nations Sustainable Development Goal 7, which champions affordable and clean energy.

According to the Commissioner, the engagement provided Edo with a valuable opportunity to forge strategic alliances, secure development financing, and strengthen collaborations with multilateral institutions committed to broadening reliable and sustainable electricity access across Africa. He attributed Edo’s invitation to the meeting to the significant advancements achieved under Governor Okpebholo’s administration. These include the successful 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 efforts, and the establishment of an investor-friendly regulatory environment designed to encourage private sector participation.

Discussions at the meeting, Usenbo noted, centered on innovative financing mechanisms for energy infrastructure, accelerating the deployment of renewable energy, strengthening intra-African trade through the AfCFTA, supporting small and medium-sized enterprises, and expanding access to affordable electricity. He added that the outcomes of these discussions reinforced Edo’s existing strategy of leveraging public-private partnerships to deliver sustainable energy infrastructure and unlock new economic opportunities.

“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,” Usenbo stated. He continued, “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.”

The Commissioner affirmed that the state intends to leverage the insights and knowledge gained from the AU meeting to accelerate electricity generation, expand renewable energy and mini-grid projects, bolster its regulatory framework, and unlock additional financing. These measures are geared towards enhancing energy security and improving electricity access throughout Edo State.

He further explained that these reforms are projected to increase electricity availability, provide consistent power for homes, businesses, and industries, stimulate private investment in the energy sector, improve the ease of doing business, create employment opportunities, promote economic growth, and reduce carbon emissions through the broader adoption of renewable energy technologies.

Usenbo concluded by stating that the ultimate objective is to establish Edo as Nigeria’s leading sub-national electricity market and a model for decentralised, investment-driven power sector reform across Africa. This, he believes, will demonstrate how robust legislation, visionary leadership, and strategic partnerships can transform the energy sector into a powerful engine for enterprise, innovation, and inclusive economic development.