National Economy
Saturday, September 27, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Lead-In

FG Secures $500m Deal For Irrigation, Hydropower In 25 States

by Taiwo Bakare
10 months ago
in Lead-In
Reading Time: 2 mins read
Hydropower
Share on FacebookShare on TwitterShare on Telegram

You May Like

NPA Deploys Electronic Barriers To Curb Lagos Port Diversions

Local Airlines To Pay Duty, VAT On Aircraft, Tickets 2026

The Federal Government of Nigeria has signed a $500 million Memorandum of Understanding (MoU) with the World Bank for the Sustainable Power and Irrigation for Nigeria (SPIN) project. This initiative, coordinated by the Federal Ministry of Water Resources and Sanitation in partnership with the Ministry of Power, aims to enhance dam safety, improve water resource management, and boost hydropower and irrigation systems across 25 states.
The signing ceremony, held in Abuja, was attended by the minister of water resources and sanitation, Prof. Joseph Utsev, and the minister of power, Adebayo Adelabu.
Speaking on the project, Prof. Utsev, described SPIN as a transformative initiative that would drive food production, create jobs, and bolster Nigeria’s economy.
He praised the World Bank for its continued support, referencing the Transforming Irrigation Management in Nigeria (TRIMING) project, which is set to conclude in January 2025. Utsev expressed confidence that SPIN would build on this foundation to meet the country’s growing irrigation demands and deliver tangible benefits to its citizens. “Our collective efforts have brought us to this significant moment, and I am confident that SPIN will deliver the tangible benefits Nigerians are eagerly anticipating,” he stated.
The project will benefit 25 states, including Benue, Katsina, Akwa Ibom, Niger, Gombe, Sokoto, Enugu, Bauchi, Cross River, Nasarawa, Ekiti, Kebbi, Plateau, Ebonyi, Zamfara, Abia, Kwara, Imo, Taraba, Kano, Delta, Osun, Jigawa, Edo, and Kogi.
Minister of power, Adebayo Adelabu, highlighted the critical role of the partnership in advancing sustainable hydropower development and enhancing Nigeria’s energy security. He noted that only 2 per cent of Nigeria’s 14-gigawatt hydropower potential has been utilised, leaving significant untapped opportunities.
Adelabu described the MoU as a crucial step in optimising renewable energy resources and diversifying the nation’s energy mix in line with the Nigeria Energy Transition Plan. He emphasised the importance of decentralised power systems, noting the role of Electricity Act 2023 in enabling subnational governments to participate in the electricity market.
He also pointed out the solar energy potential in northern Nigeria, where sunshine is available for eight to 12 hours daily. Adelabu reiterated the government’s commitment to leveraging hydropower and fostering partnerships to achieve a sustainable energy future.
“This initiative will transform the energy landscape and provide sustainable power for millions, helping Nigeria tap into its vast renewable energy potential,” he said.

Tags: Hydropower
ShareTweetShare
Previous Post

Nigeria Intensifies IMO Seat Bid, Unveils National Marine Policy Blueprint

Next Post

LCCI Seeks Fiscal Support To Strengthen Manufacturing, Agriculture

ANOTHER GOOD READ

NPA Deploys Electronic Barriers To Curb Lagos Port Diversions
Lead-In

NPA Deploys Electronic Barriers To Curb Lagos Port Diversions

2 weeks ago
Local Airlines To Pay Duty, VAT On Aircraft, Tickets 2026
Lead-In

Local Airlines To Pay Duty, VAT On Aircraft, Tickets 2026

2 weeks ago
Federal Government Scraps 5% Telecom Tax To Ease Subscriber Burden
Lead-In

Federal Government Scraps 5% Telecom Tax To Ease Subscriber Burden

2 weeks ago
Stop Motor Park Touts Now, Nigerians Tell Government
Cover

Stop Motor Park Touts Now, Nigerians Tell Government

2 weeks ago
Nigeria, China Strengthen Ties On Maritime Sector Development
Lead-In

Nigeria, China Strengthen Ties On Maritime Sector Development

3 weeks ago
PenCom Issues New Pension Fund Reporting Rules
Lead-In

PenCom Issues New Pension Fund Reporting Rules

3 weeks ago
Next Post
LCCI Seeks Fiscal Support To Strengthen Manufacturing, Agriculture

LCCI Seeks Fiscal Support To Strengthen Manufacturing, Agriculture

Most Recent

Providus, Unity Bank Shareholders Approve Merger, Promise Stronger Institution

Providus, Unity Bank Shareholders Approve Merger, Promise Stronger Institution

September 27, 2025
Stock Market Ends June Trading With N11bn Decline

Stock Market Gains N618bn On Renewed Interest In Blue-Chip Stocks

September 27, 2025
NEPZA, NDLEA Deepen Collaboration To Strengthen Free Trade Zones Oversight

NEPZA Seeks U.S. Partnerships To Boost Jobs, Expand Exports

September 27, 2025
Nigeria Non-Oil Exports Hit $3.225bn In Half-Year 2025

Nigeria’s Commitment To Non-Oil Exports Sacrosanct – NEPC

September 27, 2025
PenCom Suspends 7 Mortgage Banks Over Equity Contribution Breach

PenCom Raises Capital Base For Pension Fund Operators to Strengthen Industry Stability

September 27, 2025
What’s Different In New Tax Laws

FG Unveils New Capital Gains Tax Framework To Attract Investment, Ease Compliance

September 27, 2025
Stakeholders Seek FG’s Intervention In BoI, BoA’s Interest Rate On Devt Initiatives

FG Reassures Investors, Pushes MSME Growth As Cornerstone Of Economic Renewal

September 27, 2025
Minister Pushes for Sustainable Financing to Unlock Nigeria’s Blue Economy

Minister Pushes for Sustainable Financing to Unlock Nigeria’s Blue Economy

September 27, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy