Emmanuel OchayiIn a bid to alleviate the persistent electricity crisis in their regions, Edo, Delta, Ekiti, and Ondo States are planning to repurchase their shares from the Benin Electricity Distribution Company (BEDC).
Governor Obaseki emphasized the critical role of electricity in propelling societal development, stressing that local control over power distribution was essential.
Speaking to reporters in Benin City, Governor Obaseki highlighted the need to restructure BEDC, asserting, “We must regain authority over our electricity distribution. Our aim is to establish distinct distribution companies for each state to ensure efficient and tailored power supply.”
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Obaseki further outlined plans for state-specific grids, emphasizing the potential for cheaper electricity, leading to reduced manufacturing costs and economic growth.
He reiterated the urgency of taking control of their energy destiny, expressing discontent with the current state of darkness and the necessity for a pragmatic approach toward sustainable energy distribution.
Addressing concerns about the initial shareholders’ bankruptcy and the potential sale of shares to unsuitable buyers, Governor Obaseki emphasized the states’ intention to reclaim ownership to ensure responsible oversight rather than directly running an electricity business.
He stated, “It’s time to steer our territories towards self-sufficiency. Benin should illuminate Benin, while Delta powers Delta. This vision of localized power distribution is indeed feasible.”
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