Governor Lucky Aiyedatiwa of Ondo State has unveiled an initiative to provide reliable and affordable solar electricity to 1,000 small businesses across the state.
Mr Aiyedatiwa unveiled the project named ‘Lucky Light Initiative’ on Saturday in Akure during the 2026 Ondo State Entrepreneurship Agency (ONDEA) Entrepreneurs Summit.
The governor, who spoke on the theme, “The New Ondo: Positioning Entrepreneurs for Emerging Opportunities”, said entrepreneurship had moved beyond merely starting businesses.
Mr Aiyedatiwa said the initiative, which would cover the state’s 18 local government areas (LGAs), was designed to reduce energy costs for small businesses.
The governor said the phased intervention would begin this year, with businesses benefiting in batches as subsequent phases expand coverage.
According to him, the programme is an economic intervention designed to support businesses, rather than a household electrification scheme.
“Electricity is not a luxury for small businesses; it is part of their cost of production. Rising energy costs translate directly into higher production costs,” he said.
“Entrepreneurs should identify problems, create solutions, adopt technology, build sustainable enterprises, create jobs and compete beyond their immediate environments.
“This administration is repositioning and diversifying the state’s economy by creating an environment where entrepreneurship, innovation and businesses could thrive.
“Agriculture and agro-processing, cocoa and other cash crops, tourism, blue economy, oil and gas, solid minerals and technology are areas of opportunity.
“Others include renewable energy, creative industries, manufacturing, logistics and export-oriented businesses.
“Our objective is to move the state from producing raw materials to processing, packaging, branding and exporting value-added products,” he added.
He said the government was building an entrepreneurial ecosystem that would connect ideas to skills, skills to businesses, businesses to finance and businesses to markets.
According to him, ONDEA is playing a strategic role in helping entrepreneurs register and formalise their businesses, acquire relevant skills and receive training.
He said the agency also supported entrepreneurs with equipment and business assistance, while helping them access opportunities to build enterprises capable of creating jobs.
Mr Aiyedatiwa announced plans to purchase shares in the Dangote Group of Companies for 500 young entrepreneurs in the state, and 20 beneficiaries of the “ONDEA My IDEA” screening and selection process.
In his keynote address, Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, said entrepreneurs would be central to the Federal government’s ambition of building a one-trillion-dollar economy by 2030.
Representing the Minister, his special adviser, Toba Oyedele, urged entrepreneurs to prepare for emerging opportunities and turn economic reforms, innovation, and investment into sustainable businesses, jobs, and economic growth.
Also, Summy Francis, special adviser to the governor on entrepreneurship, innovation and investment, urged young entrepreneurs to stop waiting for opportunities and deliberately move towards them.
Mr Francis said successful entrepreneurship required “clarity, discipline and velocity”, which he described as speed in the right direction.
He described the summit as Nigeria’s largest gathering of entrepreneurs, and said the theme aligned with the Aiyedatiwa administration’s seven-point agenda.
(NAN)
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