The Ekiti State Government has made a significant move towards improving electricity services in the state by incorporating Ile Iyi Electric Power Company Nig. Limited with the Corporate Affairs Commission.

This new company will operate independently, free from bureaucratic bottlenecks, to provide efficient services related to electricity and energy engineering.

The Commissioner for Infrastructure and Public Utility, Bolaji Aluko, announced this development on a radio program, highlighting the company's objectives to provide electricity services to both public and private sectors, as well as offer commercial services to individuals and governments across Nigeria. The company will also render services related to electricity and energy engineering, including consultancy, design, and technical support.

This move is part of the decentralization policy, which has taken effect in Ekiti, Enugu, and Ondo States, allowing for greater control over electricity tariffs and customer protection policies. The Ekiti State Electricity Regulatory Bureau (EERB) will oversee the regulation of electricity services, ensuring that customers receive stable and reliable power supply.

The company is expected to collaborate with other corporate organizations in engineering businesses, generate, transmit, and distribute electricity, and produce and sell power metering technology. Additionally, it will provide strategic support services to corporate organizations and state government institutions, ensuring best practices and process optimization in the electricity sector.

The Oyebanji administration has demonstrated its commitment to providing stable electricity, with achievements including the establishment of the 5-megawatt Independent Power Project and the rehabilitation of key government installations. The government recognizes that addressing challenges with stable electricity supply will also resolve issues with potable water distribution, as unstable electricity supply has hindered water pumping from dams to consumers.

This bold step towards electricity reform is a significant milestone for Ekiti State, paving the way for improved electricity services, economic growth, and development.