The Ondo State Government has granted generation and distribution licences to Ore Power Limited and ASB Valiant Electricity Limited as part of efforts to enhance electricity supply and stimulate economic activity across the state.
The approval was issued through the Ondo State Electricity Regulatory Bureau under the Ondo State Electricity Law, 2020, during a formal event held in Akure.
Speaking at the ceremony, the Commissioner for Energy and Mineral Resources, Johnson Alabi, commended Governor Lucky Aiyedatiwa for what he described as deliberate efforts to reposition the state’s power sector for efficiency and investment growth.
Alabi said the administration was committed to developing a sustainable and competitive electricity market that would attract investors while improving power access for residents and industries.
He also praised President Bola Tinubu’s administration for reforms in the power sector, especially the Electricity Act, which he said had given states greater authority to manage electricity generation and distribution.
According to him, the latest licensing exercise forms part of the state’s broader strategy to ensure reliable electricity supply, noting that stable power remains central to industrialisation and economic expansion.
He listed ongoing interventions by the government to include subsidised metering aimed at improving billing transparency, the establishment of special electricity courts to handle sector-related disputes, and plans to develop a unified state electricity grid covering all senatorial districts.
He further explained that the government had begun restructuring the electricity market and taken over certain power assets to support commercial operations and improve service delivery.
Earlier, the OSERB State Coordinator, Stephen Bolawole, said the initiative demonstrated the government’s readiness to build a dependable and investment-friendly electricity framework.
He noted that Ore Power Limited is expected to generate up to 100 megawatts of electricity to boost supply, particularly in the Ore axis and surrounding communities, while ASB Valiant Electricity Limited will construct an 18-kilometre 33KV double-circuit line between Omotoso and Ore to strengthen distribution capacity.
Bolawole added that the licences were legally binding under both state and federal electricity regulations, urging the operators to meet performance targets and comply with operational standards.
Also speaking, the Director-General of the Ondo State Development and Investment Promotion Agency, Emmanuel Omomowo, represented by Femi Akarakiri, reaffirmed the government’s commitment to attracting strategic investments into the state’s energy sector.
The Chief Executive Officer of Ore Power Limited, Ayodele Ikumapayi, expressed optimism about the project, saying the plant would begin supplying electricity within six months and later expand to other parts of the state.
The ceremony ended with the official presentation of the operating licences to the two companies.