KEY POINTS
• Ondo State plans to provide solar electricity to 1,000 small businesses across its 18 local government areas.
• The Lucky Light Initiative will be introduced in phases to reduce energy costs for businesses.
• The state also plans to buy Dangote Group shares for 500 young entrepreneurs and 20 ONDEA My IDEA beneficiaries.
MAIN STORY
The Ondo State Government has launched an initiative to provide reliable and affordable solar electricity to 1,000 small businesses across the state.
Governor Lucky Aiyedatiwa unveiled the Lucky Light Initiative on Saturday in Akure at the 2026 Ondo State Entrepreneurship Agency (ONDEA) Entrepreneurs Summit.
The project will cover all 18 local government areas, with implementation beginning this year and businesses receiving the intervention in batches as subsequent phases expand its reach.
Aiyedatiwa said the programme was designed as an economic intervention for small businesses rather than a household electrification project, with the aim of reducing the cost of energy used in production.
“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.
Speaking on the theme, “The New Ondo: Positioning Entrepreneurs for Emerging Opportunities”, the governor said entrepreneurship now required businesses to identify problems, develop solutions, use technology and build enterprises capable of creating jobs and competing beyond their immediate markets.
He said the state was working to diversify its economy and had identified sectors including agriculture and agro processing, cocoa and other cash crops, tourism, the blue economy, oil and gas, solid minerals, technology, renewable energy, creative industries, manufacturing, logistics and export oriented businesses as areas of opportunity.
Aiyedatiwa said the administration’s objective was to move Ondo beyond the production of raw materials towards processing, packaging, branding and exporting value added products.
He said the government was also developing an entrepreneurial ecosystem designed to link ideas with skills, skills with businesses, businesses with finance and businesses with markets.
According to him, ONDEA is supporting this process by helping entrepreneurs formalise their businesses, acquire skills and access training, equipment and other forms of business assistance.
The governor also announced plans for the state government to purchase shares in the Dangote Group of Companies for 500 young entrepreneurs and 20 beneficiaries selected through the ONDEA My IDEA programme.
At the summit, Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, said entrepreneurs would play an important role in the Federal Government’s ambition to build a one trillion dollar economy by 2030.
Represented by his Special Adviser, Toba Oyedele, the minister urged entrepreneurs to prepare for emerging opportunities and convert economic reforms, innovation and investment into sustainable businesses and jobs.
Summy Francis, Special Adviser to the Governor on Entrepreneurship, Innovation and Investment, also urged young entrepreneurs to actively pursue opportunities rather than wait for them.
Francis said successful entrepreneurship required “clarity, discipline and velocity”, which he explained as moving quickly in the right direction.
He described the summit as the largest gathering of entrepreneurs in Nigeria and said its theme was aligned with the seven point agenda of the Aiyedatiwa administration.
THE ISSUES
- Energy costs are a direct operating expense for small businesses, making access to lower cost electricity relevant to businesses that depend on power for production and services.
- The phased solar intervention is intended to cover businesses across Ondo’s 18 local government areas rather than concentrate the support in a single location.
- The state’s wider entrepreneurship strategy is focused on connecting business owners with formalisation, skills, equipment, finance and markets, alongside opportunities in sectors identified for economic diversification.
- The planned share purchases for young entrepreneurs represent another form of business support announced at the summit, extending the programme beyond training and enterprise assistance.
WHAT’S BEING SAID
“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.” – Lucky Aiyedatiwa, Governor of Ondo State
“Entrepreneurs should identify problems, create solutions, adopt technology, build sustainable enterprises, create jobs and compete beyond their immediate environments.” – Lucky Aiyedatiwa, Governor of Ondo State
“Clarity, discipline and velocity.” – Summy Francis, Special Adviser to the Governor on Entrepreneurship, Innovation and Investment
WHAT’S NEXT
The Lucky Light Initiative is expected to begin this year, with solar support provided to businesses in batches as the programme expands across the 18 local government areas.
The state government also plans to proceed with the announced Dangote Group share purchase for 500 young entrepreneurs and 20 ONDEA My IDEA beneficiaries.
BOTTOM LINE
Ondo State is combining a solar energy intervention with broader entrepreneurship support aimed at reducing business costs and expanding access to skills, finance, equipment and markets. The Lucky Light Initiative will begin with 1,000 small businesses across the state.
