The member, representing Ekiti South Federal Constituency II in the House of Representatives, Hon. Femi Bamisile, has hailed Governor Biodun Oyebanji for initiating the process for the ceding of electricity market regulatory authority to Ekiti State.
The Reps member, who described this as a masterstroke that will stop extortion of consumers regretted how Ekiti consumers had groaned under the burden of outrageous billings.
He said that Governor Oyebanji has succeeded in arresting the situation and changed the narratives for good.
The Nigerian Electricity Regulation Commission (NERC) had last week through a statement announced the transfer of the electricity market regulatory oversight to the Ekiti State Electricity Regulatory Bureau for better monitoring and effectiveness in power generation.
The Federal parliamentarian, who showered encomiums on Governor Oyebanji, said the feat was accomplished owing to the governor’s competence and building of strong cords of networks and relationships with federal agencies.
Bamisile, who gave the commendation through a statement he personally signed, on Tuesday, saluted the governor’s populist and Welfarist programmes that are elevating governance and prioritising the needs of the masses.
Speaking about the significance of the transfer of market regulatory authority to Ekiti Government, Oyebanji said this will buoy power generation and invariably catalyse industrial development in Ekiti.
He described the poor pace of development of Small and Medium Scale Enterprises as the major precursor for spiraling and endemic poverty in Ekiti, expressing fervent hope that the current arrangement will bring an upswing to industrial growth in the state.
“Since the advent of democracy in 1999, every successive government had tried to bring industrial growth, but failed due to epileptic power generation. The electricity distribution companies have not been performing well because of defective monitoring by regulatory agency.
“But vesting the electricity market regulatory authority in Ekiti, which was an enigmatic initiative of Governor Biodun Oyebanji, will mean that the state will be actively involved in billing processes and determination of the rate of power supply that will phase out extortion of the consumers.
“I know that the distribution companies are profit oriented, when they perceive a situation whereby their gains will be a function of their effectiveness, they will be tasked to perform more effectively. When this happens, businesses in the areas of SMSEs, hospitality, entertainment, ICT will improve and this will upscalew general security level.
“Any environment where electricity supply and security improve, then industrial development will take off at aw speedy rate. Under this context, jobs will be created, wealth will circulate round, poverty will reduce, government will make more revenues and ultimately, industries will start sprouting.
“The gains inherent in this recent arrangement can’t be overemphasized. Our people must have firm and unshaken belief in the leadership of Governor Biodun Oyebanji and back him to achieve his dream of making Ekiti an industrially mobile state.” Bamisile said.