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Ondo State Power Company (OSPC)

Ondo state power company is driving commercial power to the state by increasing the private sector players involved in the system. With the power company in place driving the private sector growth it is believed that energy poverty which is affecting the state will be alleviated.

The role of the power company is different from the previous player in the sector such as community development and Ondo state electricity board and Osopadec who are more of a welfarist organ and social service agency they only take out of the system but put nothing back in terms of money, In case of the power company as we speak the Ondo state electricity improvement Scheme as brought in over 10million in revenue from all the companies listed above and has not taken out yet, it is expected that in 2 years plus the company will be self-sufficient in funds and will contribute significantly to the purse of the state. Ondo state in the last 7 years has spent through the social service organ more than 3 billion on a private company called BEDC and yet no significant improvement in electricity supply to its people, it fact seems worse, you will even have to beg them to energize the facilities

The need for a state-owned profit-making energy organ cannot be overemphasized, because without it we will just be pouring money down a dark hole, BEDC own franchise in Ondo State but they do not have exclusivity according to the federal constitution which puts electricity on the concurrent list and Ondo state has taken the bull by the horn to ensure that the state grows electricity wise and ensure the commercial viability of energy.

Looking at the electricity supply side, at present, Nigeria’s productive plants cannot cope with the demand and its expected increase. Future demand will be driven by a mix of economic growth, urbanization, and population growth.

According to these previous facts, there is a need for a state-owned independent power company, which came about through the Ondo State Electricity Improvement Scheme plan to build in conjunction with private sector partners Power Plants in the various region of Ondo (Nigeria) to generate electricity from gas and renewables such as solar and hydro.

We have over 7 solar hybrid-based power plants in operation presently it is expected that in the next 18 months some of the gas-fired plants will be operational they range between 2MW and 4.5MW of electricity and the plants can be further scaled up.

Mission
Vision
Values
Mission

manage the business end or business component of electricity infrastructure installed or deployed by the Board or any other such facilities deployed by the State Government;

Vision

render services in the provision of electricity to the public and private sector, including rendering such services commercially to individuals and governments of other states in Nigeria where and when possible;

Values

collaborate with other corporate organizations in engineering businesses involving generation, transmission, and local distribution of electricity as well as power metering technology production and sales within the State;