In a significant move to bolster Nigeria's energy infrastructure, the Federal Government has approved two major power projects in Oyo State and granted a concession for the development of the Ikere Gorge Hydropower Plant. These initiatives aim to enhance the national grid's capacity and address persistent power challenges in the region.
The approvals were announced by Bolaji Tunji, Special Adviser on Strategic Communications and Media Relations to the Minister of Power, Chief Adebayo Adelabu, following a recent Federal Executive Council (FEC) meeting.
One of the key projects is the development of hydroelectric power from existing small and medium dams across the country, including the Ikere Gorge Dam in Oyo State. The FEC had earlier approved this project, which is part of a broader initiative to harness Nigeria's abundant water resources for electricity generation.
Additionally, the Oyo State Government is set to commission an 11-megawatt independent hybrid power project aimed at enhancing socio-economic development and security within the state. This project is expected to provide power to several government facilities in Ibadan, the state capital.
These developments are part of the Federal Government's broader strategy to diversify Nigeria's energy mix and improve access to reliable electricity. According to Minister Adelabu, hydropower currently contributes about 20% of Nigeria's 5,000MW grid supply, with a potential estimated at 14,000MW. However, only 15% of this potential has been tapped.
The concession of the Ikere Gorge Hydropower Plant and the approval of new power projects in Oyo State underscore the government's commitment to leveraging natural resources for sustainable development and energy security.
These initiatives are expected to attract investment, create jobs, and provide a more stable power supply, contributing to the overall economic growth of the region and the country at large.
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