ONDO MOVES TO BOOST POWER GENERATION & DISTRIBUTION,
GRANTS LICENSES FOR 100MW PLANT
Ore Power Limited & Valiant Energy Company Ltd Receive Landmark Licenses from Ondo State Electricity Regulatory Bureau to Operate and Expand the Ore IPP.
The Ondo State Government has taken a decisive step toward energy self-sufficiency with the formal grant of an operating license to Ore Power Limited — a jointly-owned power generation company, and another operating license to Valiant Electricity Limited – a power distribution company by the Ondo State Electricity Regulatory Bureau (OSERB). The licenses authorize the operation of the Ore 30MW Independent Power Plant (IPP), with a clear pathway for expansion to a total installed capacity of 100MW: 60MW dedicated to powering the Liquefied Natural Gas (LNG) Plant and 40MW injected directly into the Ondo State Electricity Grid. The LNG Production Plant is projected to operate at a capacity of 2,000 Tons Per Day (100 MMSCFD) at full development.
This landmark achievement is anchored in the Ondo State Electric Power Sector Law 2020, which empowers Ondo State to independently generate, distribute, and regulate electricity — a function previously controlled exclusively by the Federal Government through the Nigerian Electricity Regulatory Commission (NERC). This shift marks a structural turning point: Ondo State is no longer a passive recipient of federal power allocations but a sovereign actor in its own energy future.
Speaking at the event, the Chief Executive Officer of the Ondo State Development and Investment Promotion Agency (ONDIPA), Emmanuel Omomowo Esq, who was ably represented by the Director of Business Development, Engr. Femi Akarakiri, emphasized the State’s proactive approach to attracting credible investors into critical sectors. He noted that Ondo State remains committed to creating an enabling environment for private sector participation, particularly in the energy space, which is pivotal to economic growth and industrialization.
Also speaking, the State Coordinator of the Ondo State Electricity Regulatory Bureau (OSERB), Engr. Stephen Olugbenga Bolawole, stated that the initiative aligns squarely with the policy direction of the State Government. He explained that the development is driven by the legal framework provided under the Ondo State Electric Power Sector Law, 2020, which governs electricity market operations within the State.
According to him, “For every investor seeking to operate within the electricity market in Ondo State, there are clearly defined guidelines and procedures—from the pre-application stage through to project execution. We are pleased to note that Ore Power Limited and Valiant Electricity Limited have successfully met all regulatory requirements without any rejection.”
In his remarks, the Honorable Commissioner for Energy and Mineral Resources, Engr. Johnson Alabi, commended the Executive Governor of Ondo State for his visionary leadership and unwavering commitment to establishing a functional and independent electricity market. He described the event as a clear reflection of the administration’s dedication to ensuring stable power supply for residents and businesses across the State.
“The Governor remains fully committed to ensuring that Ondo State enjoys steady and reliable electricity, and today’s milestone further demonstrates that resolve,” he added.
Speaking on behalf of the investor, the President of Valiant Group (the parent company of the various Valiant companies, including ASB Valiant Company Limited), Ayodele Ikumapayi, expressed confidence in Ondo State’s leadership in Nigeria’s power sector. He noted that the State possesses the human and natural resources required to achieve energy self-sufficiency.
He commended the State Government for creating a conducive investment climate and revealed that the company is partnering with Ondo State through Ore Power Limited to revitalize and expand power infrastructure.
According to him, “Ondo State is strategically positioned to lead in the power sector.” He emphasized that work has already commenced, and based on current progress, the power plant is expected to begin supplying electricity within the next six months.
The fruition of this initiative is a direct product of the deliberate and investor-focused governance agenda of His Excellency, Dr. Lucky Orimisan Aiyedatiwa, the Executive Governor of Ondo State and Chairman of ONDIPA through the OUR EASE Policy, a framework designed to eliminate bureaucratic bottlenecks, reduce the cost of doing business, and attract world-class investment — the Governor has created the fertile institutional environment in which projects of this magnitude can take root. The licensing of Ore Power Limited and Valiant Electricity Limited is a testament to this commitment: governance that works, regulation that enables, and infrastructure that delivers.
ONDIPA: Driving Investment and Industrial Development
The Ondo State Development and Investment Promotion Agency (ONDIPA), the investment and development arm of the Ondo State Government, has been central to structuring and driving this initiative. Acting as the catalyst between government policy and private capital, ONDIPA facilitated the development of Ore Power Limited, ensuring the project was properly scoped, investor-ready, and aligned with the State’s broader industrial development objectives. ONDIPA’s role underscores its strategic mandate: to transform Ondo State into a premier destination for productive investment.
The operational impact of this license extends far beyond electricity generation. The Ore IPP will serve as the dedicated power source for the Ore International Industrial Park — a flagship economic zone strategically positioned to catalyze downstream industrial activity across the Omotosho corridor. By guaranteeing reliable, cost-effective power, the project is designed to attract complementary investors, stimulate manufacturing, and deliver stable electricity to commercial enterprises in the Ore/Omotosho axis — an area poised to become one of Nigeria’s most dynamic industrial hubs.
“This is not just a license — it is a declaration. Ondo State is open for business, empowered by law, and committed to delivering the infrastructure that industry demands. We are building the foundations of prosperity, one megawatt at a time.”
Signed:
Louis Okoh
Communications/Press Officer
ONDIPA.
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