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    MarketForces Africa » MarketForces News » Oyo Moves to Achieve Energy Sufficiency

    Oyo Moves to Achieve Energy Sufficiency

    Julius AlagbeBy Julius AlagbeFebruary 7, 2024 News No Comments2 Mins Read
    Oyo Moves to Achieve Energy Sufficiency
    Gov. Seyi Makinde
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    Oyo Moves to Achieve Energy Sufficiency

    Gov. Seyi Makinde says Oyo State is committed to be the first in the country to achieve energy sufficiency. Makinde said this during the 20th Anniversary of the British American Tobacco (BAT), Ibadan Plant.

    He said achieving energy sufficiency in the state has always been a major focus of his government. The governor expressed the state’s readiness to partner with BAT’s Ibadan Plant to achieve the great feat in energy sufficiency.

    ”The state will look forward to working with BAT to improve electricity supply in the state,” he said. Makinde commended BAT for its immense contributions to Oyo State over the years, promising to sustain the conducive environment in which the company and others were operating in the state.

    “You are going to be commissioning a 1.4 megawatts solar plant. This is pretty much in line with our aspiration in Oyo State. For us, energy sufficiency is a big part of this administration. When I came in, there was no Energy Ministry but we now have,” he said.

    Makinde maintained that the state would also within the next few weeks commission its 11 Megawatts Power Plant, with 10 Megawatts gas-driven while one Megawatt is solar-powered. The governor hinted that he would soon sign the Bill establishing the Oyo State Electricity Regulatory Commission.

    He also hailed BAT for attaining a historic milestone in Nigeria, noting that the company has contributed in various ways to the development of the state. In his address, the Chairman, BAT Nigeria, Chief Kola Karim, said the company had played a pivotal role in the country’s economic growth and prosperity.

    Similarly, the Managing Director, BAT Nigeria, Mr. Yarub Al-Bahrani, said the company would continue to sustain its legacy of success and economic growth in Oyo State and Nigeria. #Oyo Moves to Achieve Energy Sufficiency#

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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