Business

DAVIDO'S FATHER'S INVESTMENT IN POWER, VANDALIZED.

Dr. Deji Adeleke, a well-known Nigerian businessman and pro-chancellor of Adeleke University in Ede, Osun State, started work on a 1,250-megawatt power plant in Ajebandele village, Ondo State, to address Nigeria's electricity shortage and enhance the country's power supply. But because of site theft, this $2 billion ambitious project is already experiencing substantial delays. With a theoretical energy-generating capacity of 12,522 MW, Nigeria struggles to deliver more than 4,000 MW, leaving more than 200 million people with insufficient power. Adeleke was motivated to act as a result of this circumstance and build the power plant to contribute to the current electricity generation.

 

Dr. Deji Adeleke 1

                                                                                     Dr. Deji Adeleke

Speaking during Adeleke University's 9th graduation ceremony in Ede, Osun State, Adeleke reaffirmed his commitment to nation-building and underlined the need for individual accountability. He said that to bring about constructive change, everyone needed to do their part and hold leaders responsible. "I am building a 1250MW power plant. Nigeria currently has about 5,000 MW; adding mine to that is a lot," Adeleke said. It will cost $2 billion. In a community in the state of Ondo, we began it. We installed turbines that were roughly $72 million in cost.

 

Over 1000 people, many of whom were residents of the nearby village, were given work opportunities during the building of the power plant. Adeleke emphasized the significance of enlisting young men from the neighborhood to help protect the power plant from any security threats. The project has seen a significant setback, though, when thieves broke into the power plant site and stole turbine machine parts worth around $5 million. These gigantic copper objects that were taken required at least ten individuals to lift each one since they were so heavy.

Adeleke speculates that the thieves may have utilized trucks to move the looted goods away from the scene while it was still dark.  The construction of the power plant is now anticipated to be delayed by an additional year due to the theft and damage. Adeleke bemoaned the project's additional $5 million cost to replace the components that had been stolen.

The management was forced to fire some of the village's young workers to secure the factory as a whole using security officers from top Nigerian agencies. Despite difficulties encountered during the project, Adeleke never wavered in his commitment to Nigeria. He declined a letter of special exemption from the United Arab Emirates (UAE), as Nigerians were not permitted to enter the UAE. He made this choice in keeping with his core value of supporting his fellow Nigerians. A constitutional change empowering Nigeria's 36 states to create, transmit, and distribute energy within their territories serviced by the national grid was signed into law to address the country's power issue completely.

States can enter the energy production industry because of a development known as the Fifth Alteration Bill No. 33, Devolution of Powers (National Grid System). The completion of Dr. Deji Adeleke's 1,250-megawatt power plant project would have been a significant step in enhancing Nigeria's power supply at a time when the country faces energy issues. But given the setback brought on by the looting, it is clear that safeguarding and defending vital infrastructure is essential for the growth and prosperity of the country.

Last modified on Tuesday, 25 July 2023 16:09
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Kayode Olorundare

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