Southwest States to launch regional electricity, rail projects

Following the success of the regional security outfit codenamed Amotekun and other regional initiatives, Southwest States have agreed to launch regional railway and electricity projects.

The decision came on the heels of the Electricity and Railway Acts 2023 signed by President Muhammadu Buhari. The new laws decentralised the operation of power and rail among others.

The items were on the Exclusive List for decades, factor experts have consistently described as a cog in the wheel of progress in the two sectors.

At the end of a two-day conference on the subjects in Akure, the Ondo State capital on Thursday, the six States agreed to pursue regional power and rail projects to deliver economic and social benefits to the region.

Organised by the Development Agenda for Western Nigeria (DAWN) Commission in collaboration with Odu’a Investments Company Ltd., the conference, which was hosted by the Ondo State Investments Promotion Agency (ODSIPA) highlighted the need for each state to build projects in the two sectors and build inter-connectivity among them.

The States are Ondo, Ogun, Osun, Oyo, Ekiti and Lagos.

Experts and commissioners for power and transport in the states gave insights to models that can work, financing options and the need to develop a uniform legal framework for the projects in order to attract the right investors and avoid legal lacuna.

The DAWN Director General Seye Oyeleye said the best time for Southwest to build its rail system and power infrastructures was in 1958, stressing that the next best time to do it was now.