Edo State Governor, Senator Monday Okpebholo, has secured a 10 per cent equity stake for the state in a proposed 100-megawatt (100MW) power plant, a landmark move aimed at strengthening Edo’s electricity sector, driving economic growth and guaranteeing long-term returns on government-backed energy investments.
The initiative, championed by the Edo State Ministry of Power, forms part of the Okpebholo administration’s broader strategy to modernise energy infrastructure, attract private sector investment and expand access to reliable electricity across the state.
Governor Okpebholo disclosed the development while receiving the Managing Director and Chief Executive Officer of First Bank of Nigeria Limited, Mr. Olusegun Alebiosu, and the Managing Director and Chief Executive Officer of CCETC, Mr. Di Xiaohui, alongside their delegations at Government House in Benin City.
The governor said the state insisted on acquiring an ownership stake in the project to ensure Edo benefits beyond providing land for the power plant.
“We cannot simply provide land for the project without becoming part owners. That is why we negotiated a 10 per cent equity stake, and that is the agreement we are signing today,” he said.
Describing the agreement as a major victory for the state, Okpebholo said the project would improve electricity supply, generate revenue for the government and create employment opportunities for Edo residents.
“We will have reliable electricity, the state will earn income from its investment, and our young people will benefit from the jobs that the project will create. This is a major step forward for Edo State,” the governor added.
He noted that the investment aligns with his administration’s vision of building a resilient, investor-friendly electricity sector capable of supporting industrialisation, improving power access and accelerating sustainable socio-economic development.
As part of efforts to deepen power sector reforms, Governor Okpebholo also announced plans to establish additional power plants in Edo Central and Edo North Senatorial Districts to decentralise electricity generation, improve energy access and stimulate industrial growth across the state.
Speaking on the administration’s energy agenda, the Commissioner for Power, Hon. Paul E. Usenbo, reaffirmed the government’s commitment to expanding electricity infrastructure, strengthening the regulatory framework and encouraging greater private sector participation in the power sector.
Usenbo said one of the ministry’s flagship initiatives, the Edo Mass Metering Programme (EMMP), is designed to eliminate estimated billing, improve transparency and ensure consumers pay only for the electricity they consume.
He disclosed that the programme has also led to the establishment of the Edo State Metering Assembly, which is expected to commence operations in the last quarter of 2026.
The commissioner added that the ministry is simultaneously advancing rural electrification projects, promoting renewable and clean energy solutions, and forging strategic partnerships with investors and development partners to accelerate the expansion of electricity infrastructure across Edo State.
According to him, the proposed 100MW power plant, expected to begin operations in November 2026, will rank among the first major investments delivered under the Okpebholo administration’s power sector reform agenda.
He said the project is expected to significantly improve electricity supply, stimulate economic activities, attract new investments and create employment opportunities for residents.
Usenbo noted that the proposed power plant, alongside other ongoing initiatives, reflects the Edo State Government’s commitment to implementing forward-looking energy policies that will modernise electricity infrastructure, expand access to reliable power and position Edo as a leading destination for investment, industrialisation and sustainable economic growth.
