- Oyo Governor, Engr. Seyi Makinde, has disclosed his plan to launch 500MW Solar Power Project in Igbojaye community in Itesiwaju local government area.
- He emphasized that the hybrid power system would not only boost power supply to industries and households but also contribute to reducing the carbon footprint.
Oyo Governor, Engr. Seyi Makinde, has disclosed his plan to launch 500MW Solar Power Project in Igbojaye community in Itesiwaju local government area before the end of his administration. This is as he commissioned Phase 1 of the 11MW Ibadan Hybrid Power Plant, (IBHP) on Friday.
Speaking at the commissioning of the project, Makinde said the proposed project aimed at creating a new era of his administration’s planned sustainable energy project in the state.
The hybrid power facility combines solar and gas energy, which will enhance the state’s power supply, reduce energy costs, and promote environmental sustainability.
The power project which is private sector driven based on Build own operate and transfer (BOOT) will supply the state government Secretariat including the state House of Assembly as well as the two Adeoyo State hospitals among others.
Governor Makinde, who has been at the forefront of promoting sustainable development in Oyo, stated that the Ibadan Hybrid Power Plant marks a historic achievement in the state’s energy sector.
He noted that the Phase 1 completion, of the power project would serve to deliver uninterrupted power to critical infrastructure which also includes 12 different healthcare facilities, a Sports Complex, Judicial Complexes, and some selected schools.
He emphasised that the hybrid power system would not only boost power supply to industries and households but also contribute to reducing the carbon footprint by utilizing renewable sources of energy, aligning with global efforts to combat climate change.
Stating the project would also enhance safety and visibility as well as boost energy reliability and sustainability in the state, Makinde stressed that the power project would serve as a model to follow in Nigeria.“
As we commission this first phase of a project that I believe would serve as the fulcrum that is pivotal to the future development of our dear state.
As every business person will tell you, there is a difference between growth and skill. To achieve growth, an organization will have resources and they try to limit their expenditure.
So, this is what we have been doing in Oyo State for the past five and a half years.“ This power plant is 100 per cent private investment because the government doesn’t have the money to do everything.
But as government, we provided the enabling environment for investors to know that we are serious people. We have invested in road construction, interconnecting all the zones so that development spreads across the state.“
We have focused on agribusiness so that investors come into our state through Private Public Development Partnership. We have invested in security so that see our dear state investment destination in Nigeria.“
We have taken strategic steps to reduce our infrastructure deficit and the result has been the growth of our economy. Or GDP grew by about 90 per cent — from 2.75trn in 2019 to N4.05trn as of 2022.
But as we speak to these investors, they always talk about one aspect of the economy that seems to be an absolute game changer, having reliable and interrupted power supply, it’s a big deal.