Abuja, Nov. 27, 2024 – The federal government has signed a $500 million Memorandum of Understanding (MoU) with the World Bank for the implementation of the Sustainable Power and Irrigation for Nigeria (SPIN) project across 25 states.
The MoU was signed in Abuja on Tuesday by Prof. Joseph Utsev, the Minister of Water Resources and Sanitation, and Adebayo Adelabu, the Minister of Power, on behalf of the federal government.
The project is to enhance dam safety, improve water resource management and boost hydropower and irrigation systems nationwide.
Utsev described the SPIN project as pivotal to boosting food production, creating jobs, and strengthening Nigeria’s economy.
He commended the World Bank as a trusted partner in the country’s development.
Utsev reaffirmed the ministries’ and partners’ full commitment to the project’s success and expressed confidence in its potential to address Nigeria’s irrigation needs and deliver significant benefits to citizens.
“We are confident that the SPIN project will build on this legacy by boosting food production and meeting the irrigation needs of our growing population.
“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 said.
Adebayo Adelabu, the Minister of Power, stressed the importance of partnership in advancing sustainable hydropower development and enhancing Nigeria’s energy security.
He said that in spite of abundant water resources, only 2% of the country’s 14-gigawatt hydropower potential had been utilised, leaving vast opportunities untapped.
The minister also stressed the importance of the MoU as a key step toward harnessing renewable energy, optimizing natural resources, and diversifying the energy mix in line with the Nigeria Energy Transition Plan.
He said the initiative had the potential to transform the energy landscape and provide sustainable power for millions.
The 25 beneficiary states are 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. (GBN)
