Energy & Waste to Wealth

With a population of approximately 8 million people in the state, over 55% of residents lack access to electricity, while those with access, suffer from erratic supply. Oyo State in line with the general trend in the country has constantly suffered huge electricity supply gaps evidenced by a power deficit of 94,500MW, in which about 41% of businesses within the state generate their own electricity. The power sector remains one of the sectors of the economy with vast room for investment, this brings to light, the urgent need to have Solar Farms, mini grid and many other forms of renewable energy opportunities.
At the current moment, there is no IPP operational in Oyo State.

Natural Endowments

About 3000 MT tonnes of waste is generated daily in Oyo State and these can be converted into energy. The waste is converted to refuse derived fuels which can be used to heat up thermo plants.
Biofuels and biomass can also be generated from our waste and converted to energy.
Weather- we have excellent weather to support massive solar farms. In the same regard, our weather is also conducive for wind powered plants
The State has 30 dams which can be utilized for renewable energy solutions.

In a bid to maximize the vast opportunities in Renewable Energy generation in Oyo State, the current government set up a new Ministry called the Ministry of Energy and Mineral Resources with a mandate to undertake the following;
- Strategize, promote and develop sustainable policies for energy planning to ensure access to and availability of reliable energy for all residents in the State;
- Formulate and evaluate policies relating to energy and mineral resources in the State;
- Develop sustainable policies for both conventional and renewable power solutions;
- Collate power audit data to ensure energy planning and availability and collate available data on minerals and their locations;
- Liaise with relevant Ministries, Departments, Agencies and/or Organizations to provide modalities for initiatives within the energy and minerals resources sectors in the State, Federation as a whole and internationally;
Because of the growing culture of urban residents in generating energy through renewable sources, the local technical skills base has increased, concurrently there has also been a sharp rise in the number of local investors in this sector.
Oyo State Rural Electrification Board- to provide electricity to rural and peri-urban areas

Independent Power Projects for Special Economic Zones: Power generation through the establishment of independent power project and captive power generation
Rural and peri urban electrification projects: There is an increased awareness for the application of renewable energy at both urban and rural settings, at the rural settings and these are community-based projects which power boreholes where 5KVA solar powered units to power water pumps between 1hp-2hp. At urban settings, homes are gradually utilizing solar panels to power their home needs when the national grid fails, usually these range between 1KVA to 20KVA depending on their consumption.
Solar street lighting projects and community security: Commercial enterprises are also gradually investing in solar panels and solar powered street lights on major roads within some key cities in the state

Waste to energy: Large amount of metric tonnes of waste available to be converted to energy
Hydro Electricity Generation: Technical and investment support to tap the 450MW potentials of the Ikere Gorge Dam as well as optimise other earth dams and rivers i.e. Eleyele River, Asejire River in the State for hydroelectric power generation.