Oyo State governor, Mr Seyi Makinde, has been commended for his ascent to the Oyo State Energy Regulatory Bill.
The commendation was given by a former Minister of Power and Steel and the co-chairman, Oyo State Elders Council, Elder Wole Oyelese.
Speaking with journalists on Monday, Oyelese, pointed out that it takes divine wisdom and clear vision on the part of the governor to take the many development-oriented decisions he has been taking since assuming office.
He commended the governor for the step of taking full advantage of the Federal Government’s decision to move matters pertaining to energy from the Exclusive to the Concurrent list.
Oyelese noted that the greatest disincentive to the industrial development of any nation of which Nigeria is guilty is the state of the power sector.
He lamented the rate at which viable multinational companies had moved and are still moving out of Nigeria to more serious countries that have long realised that electricity is the life-blood of their industrial development.
The former minister said it is regrettable that with the huge investments over the years in the energy sector, there is still nothing to write home about.
He then commended the vision and determination of Governor Seyi Makinde to make Oyo State the first state in Nigeria to enjoy an uninterrupted 24 hours and seven days a week supply of electricity.
Noting that the new step shows great forward thinking for unparalleled industrial development on the part of the governor, the Elder said the step when actualised would turn Oyo State into a modern industrial hub.
He further pointed out that with the proximity of Oyo State to Lagos, the internally generated revenue of Oyo State will in a number of years be at par with that of Lagos.
Describing efficient and stable electricity supply as a major attractant for Foreign Direct Investment, Elder Oyelese asserted that unemployment would become a thing of the past as Oyo State would become the first port of call for genuine and serious investors.
In his opinion, Elder Oyelese believes that if Nigeria is to get out of the woods, the federal government may have to borrow a leaf from Oyo State to strive to make the country energy sufficient.
He said that for a country with such abundant raw materials, Nigeria has no business being a net importer of finished goods while being an exporter of her own raw materials without any value added.
In his opinion, what should be the main priority of the federal government is energy sufficiency so that foreign investors can be attracted and our narrative can then change.
He stated that no amount of pontification will change the current disgraceful exchage rate of the naira against the dollar without pragmatic steps like Governor Seyi Makinde is taking in Oyo State.
While congratulating Governor Makinde, the former minister tasked him to immediately set to work as the people of Oyo state can hardly wait to start enjoying the finished product.
He then called on the good people of the state to keep their massive support for the administration alive and to show it in the local government election that is just around the corner.
He promised the people that the foundation for a better life for all is currently being laid by the visionary leadership of Governor Seyi Makinde.
Oyelese promised the governor of the unalloyed support of all his colleagues in the Elders Council towards the speedy realisation of the project.
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