Jelili Gbadamosi
Ondo State Governor, Lucky Orimisan Aiyedatiwa, has launched a solar power initiative targeted at reducing electricity costs for 1,000 small businesses across the state’s 18 local government areas.
The initiative, known as the Lucky Light Initiative, was unveiled on Saturday at the 2026 Ondo State Entrepreneurship Agency, ONDEA, Entrepreneurs Summit held at the International Centre for Culture and Events, The Dome, Akure.
Aiyedatiwa said the intervention was designed specifically to support businesses rather than serve as a household electrification programme.
According to him, high energy costs have become a major component of production expenses for small businesses, making access to reliable and affordable electricity important for their sustainability.
The governor said the programme would begin in 2026, with beneficiaries supported in batches before subsequent phases extend coverage to more businesses across the state.
He said the initiative was part of his administration’s broader efforts to create an environment where entrepreneurs can establish and grow sustainable businesses.
The governor also announced 20 beneficiaries selected through the ONDEA My IDEA screening process, who would receive funding and other business support packages.
He urged the beneficiaries to use the support responsibly, create jobs, meet their tax obligations and assist other entrepreneurs through mentorship.
Aiyedatiwa said his administration was seeking to move Ondo’s economy beyond the production of raw materials by promoting processing, packaging, branding and export of value-added products.
He identified agriculture and agro-processing, cocoa, tourism, the blue economy, oil and gas, solid minerals, technology, renewable energy, creative industries, manufacturing, logistics and export-oriented businesses as areas with significant opportunities.
The governor further announced plans to purchase shares in the Dangote Group of Companies for 500 young entrepreneurs in the state, describing the initiative as part of efforts to expose young people to investment opportunities and wealth creation.
Speaking at the summit, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, represented by his Special Adviser, Toba Oyedele, said entrepreneurs would be critical to the Federal Government’s ambition of building a $1 trillion economy by 2030.
He urged entrepreneurs to position themselves to benefit from emerging opportunities created by economic reforms, innovation and investment.
The Special Adviser to the Governor on Entrepreneurship, Innovation and Investment, Dr Summy Smart Francis, called on young entrepreneurs to actively pursue opportunities rather than wait for them.
Francis identified clarity, discipline and what he described as “velocity,” or speed in the right direction, as key principles for building successful enterprises.
He also disclosed that ONDEA had established a WhatsApp platform and introduced a 48-hour response system for correspondence as part of efforts to improve its engagement with entrepreneurs.
The summit, themed “The New Ondo: Positioning Entrepreneurs for Emerging Opportunities,” brought together entrepreneurs, government officials, investors, trainers and other private-sector stakeholders to discuss innovation, business development and emerging economic opportunities.
