Power generation and distribution have been decentralised to guarantee uninterrupted supply, Vice-President Yemi Osinbajo has said.
He said availability of power supply will attract more foreign investment.
The Vice President spoke at a town hall meeting with youths at the Theophilus Ogunlesi University Teaching Hospital (UCH) Ibadan, Oyo State capital.
He said he was in Ibadan for the provision of solar power in Gbagi Market as he had done in other parts of the country.
He said:”One of the reasons I am here in Ibadan is to have off-grid power generation and distribution in Gbagi market. We want to embark on solar power generation in the entire Gbagi Market and we are going to have that in all the markets across Nigeria.
“For those of you who are following our activities, you will know that we have done it in Sabon Gari in Kano State and in some markets in the East and in Ondo State too. We are doing this not to rely on the traditional sources of power generation again.
“We also have something we called Illegible Customer Declaration (ICD) which means that industrial areas and big estates can have their own power without relying on the traditional grid.
“So there are companies that we are licensing to buy power and sell to their customers. This country is too big to have same power source for the whole country and that is why we are trying to decentralise the sources of power generation.
“Then, we will be able to supply what is left for residential areas that require power in the country. We have a systematic approach to solving power generation in the country. We are having the power problems because the privatisation was done badly.”
During the National Micro, Small and Medium Enterprises (MSMEs) Clinic, Osinbajo said 10,392 graduates from Oyo State had been shortlisted for the second batch of N-Power scheme scheduled to begin next month.
He said 9,220 volunteers benefited in the first batch of the scheme.
The Vice President said President Muhammadu Buhari had directed that the GEEP programme be expanded to cater for small scale enterprises.
“We are feeding 230,000 pupils, we have also employed 2,363 cooks in the state, while 14,529 households are benefiting in the Conditional Cash Transfer.
“It is the hope of Mr President that we should broaden opportunities and make it available to every Nigerian,” he said.
Oyo State Governor Abiola Ajimobi said the Federal Government had contributed tremendously towards socio-economic development in the state.
“Close to 37 million MSMEs in Nigeria represent 80 per cent of Nigerian enterprises and they give out 75 per cent employment in Nigeria.
“Small businesses create more jobs, expand the economy and ensure prosperity. We commend the unwavering commitment of the Vice President to economic development,” he said.
The event was attended by Minister of State for Trade and Investment Mrs Aisha Abubakar, Alaafin of Oyo Oba Lamidi Adeyemi, and Olubadan of Ibadan Oba Saliu Adetunji.