Osun State Assembly Passes Landmark Bill To Establish Electricity Regulatory Commission.
The Osun State House of Assembly has passed the Osun State Electricity Market Regulatory Bill, 2024, marking a significant step towards enhancing the state’s energy sector. The legislation, approved during a plenary session on Monday, paves the way for the establishment of the Osun State Electricity Regulatory Commission, aimed at overseeing the state’s electricity market and fostering sustainable energy development.
The bill, forwarded to the Assembly by Governor Ademola Adeleke, is designed to create a robust framework for regulating electricity generation, transmission, and distribution within Osun State. The new commission will have the authority to issue licences to private firms, regulate interactions among power sector operators, and promote transparency and efficiency. Governor Adeleke, speaking via his official X handle, described the initiative as a testament to his administration’s commitment to harnessing multiple avenues for stable power supply, a critical driver of development.
Speaker of the House, Rt. Hon. Adewale Egbedun, presided over the session and hailed the bill’s passage as a milestone in the Assembly’s legislative agenda. He noted that the commission would facilitate private sector investment in electricity, encourage the adoption of renewable and green energy sources, and ensure fair practices across the sector. The bill is now awaiting the governor’s assent to become law, following the preparation of a clean copy by the Assembly’s clerk, Mr Simeon Amusan.
This development aligns with the Electricity Act 2023, which grants states the power to regulate intra-state electricity markets, following a constitutional amendment that decentralised electricity regulation. The Osun State Electricity Regulatory Commission will work alongside the National Electricity Regulatory Commission (NERC) to enhance the state’s energy infrastructure, addressing longstanding challenges such as unreliable power supply and inadequate regulation.
The passage of the bill has been met with optimism by stakeholders, who see it as a transformative move to boost economic growth and improve living standards in Osun State. By creating a state-specific regulatory body, Osun aims to attract investment, streamline operations, and ensure accountability in its electricity market. The initiative is also expected to support the state’s broader goal of electrifying all towns and villages, leveraging mini-dams and other alternative energy sources.
As Osun State prepares to implement this new framework, residents and businesses alike are hopeful that the commission will address persistent power challenges and pave the way for a more reliable and sustainable energy future. The Assembly’s proactive approach signals a promising era for the state’s energy sector, with potential ripple effects for economic development and job creation.
