The Federal Government is on track to generate an additional 1,268 megawatts of power through the development of eight hydropower projects, using public private partnerships for construction and operation.
According to a document obtained from the Federal Ministry of Water Resources and Sanitation in Abuja, three projects have already been awarded to concessionaires, with approval granted for another project by the Federal Executive Council.
As Nigeria faces power generation challenges, with electricity supply hovering around 3,000-4,000 megawatts for a population of over 200 million, the government is focusing on hydropower to offset the impact of gas supply disruptions to thermal plants.
The Minister of Water Resources and Sanitation, Prof. Joseph Utsev, highlighted the progress, including the concession of the Dadinkowa, Gurara, and Kashimbila hydropower plants, as well as ongoing developments like the Gurara Phase II, Manya, Bawaku, Katsina-Ala, and Farin Ruwa projects.
In a bid to increase power output, the government is also selling five power plants under the National Integrated Power Projects to raise funds, including the Geregu II, Omotosho II, Olorunshogo II, Odukpami, and Benin-Ihovbor plants.
Efforts to privatize these plants are ongoing, with transactions valued at approximately $1.15 billion, although the actual value could exceed $5 billion based on international benchmarks.
The diversification of power sources and the privatization of power plants signal the government’s commitment to addressing Nigeria’s energy challenges, ensuring a more sustainable and reliable power supply for its growing population.
Posted in Metro News Africa
