The Jericho Businessmen Club (JBC) in Ibadan held its much-anticipated 2nd Annual Socio-Economic Summit on Friday, 16th November 2024, with a focus on powering Oyo State for industrialization and economic development.
The event, which attracted key stakeholders from the business, political, and academic sectors, was graced by His Excellency, Chief Adebayo Adelabu, the Federal Minister for Power, State Delegates along with royal fathers, the President General of the Central Council of Ibadan Indigenes (CCII), and several distinguished guests.
The summit’s theme, “Powering Oyo State for Industrialization and Economic Development: A Case for Sustainable Electrification,” emphasized the crucial role of reliable and affordable electricity in the growth and development of the state and its economy.
In his remarks, JBC President, Olooye Adegboyega Taofeek Adegoke, FCA, Aare Egbe-Omo Balogun of Ibadanland, highlighted that sustainable electricity is essential for socio-economic development, noting that no economy can thrive without it.
Adegoke further emphasized the role of the Jericho Businessmen Club in fostering collaboration among professionals and entrepreneurs to drive economic growth in Ibadanland and beyond.
He stressed that the club’s mission of leveraging collective social and economic capital aligns with the summit’s objectives of finding solutions to Oyo State’s energy challenges.
The summit comes at a pivotal moment following the passage of the amended Electricity Act, which now allows state governments to regulate electricity within their territories.
Adegoke expressed optimism that this legal framework would significantly improve electricity access in Oyo State, helping to unlock its industrial potential.
The summit also featured discussions across several thematic areas, including Energy Infrastructure Development, Renewable Energy Options, Financing Energy Projects, and Energy Policy and Regulation.
The JBC President expressed confidence that the event would lead to actionable outcomes that would benefit both the business community and the wider public.
In conclusion, Olooye Adegoke welcomed attendees and wished them a productive and impactful summit, underscoring the importance of collaboration in addressing the energy needs of Oyo State for sustainable economic development.
The summit is expected to serve as a platform for generating ideas and strategies that will shape the future of energy and economic policy in Oyo State, with long-lasting benefits for the region.
