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Nigeria to Unlock 14,000 MW Hydropower Potential through New World Bank Partnership

Written by Agboola Oluwafemi on November 28, 2024

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The Federal Government has asserted that Nigeria possesses sufficient water resources to generate up to 14,000 megawatts of electricity. This revelation came alongside the signing of a Memorandum of Understanding (MoU) by the Minister of Power, Adebayo Adelabu, and his counterpart in the Ministry of Water Resources and Sanitation, Joseph Utsev.

The MoU pertains to the implementation of the World Bank-supported Sustainable Power and Irrigation Project for Nigeria.

According to a statement issued by Bolaji Tunji, the media aide to the Minister of Power, the ceremony, held on Tuesday in Abuja, marks a concerted effort to tap into Nigeria’s vast hydropower potential. Senior government officials, World Bank development partners, and other key stakeholders were present at the signing.

In his remarks, Minister Adelabu underscored the importance of the SPIN programme in broadening Nigeria’s energy portfolio, bolstering energy security, and addressing climate change challenges. He noted that hydropower currently accounts for approximately 20 percent of the nation’s 5,000 MW grid capacity, with an untapped potential estimated at 14,000 MW. Despite this, only about 15 percent of the potential has been realized thus far.

This partnership highlights the Federal Government’s dedication to harnessing our natural resources for sustainable progress. Through SPIN, we aim to maximize water resources to provide clean, reliable energy while also supporting irrigation and agriculture to strengthen food security, said Adelabu.

In a similar vein, Minister Utsev emphasized the critical role of integrating water and energy to drive socio-economic development. This initiative will deliver the benefits of democracy that Nigerians eagerly anticipate. The Federal Government, with the assistance of the World Bank, remains resolute in addressing the country’s development challenges and achieving transformative outcomes through innovative and strategic collaborations, he stated.

The statement concluded by noting that the SPIN initiative is in alignment with Nigeria’s Energy Transition Plan and the 2023 Electricity Act, both of which prioritize renewable energy and infrastructure development to promote economic growth and environmental sustainability.