Edo State has secured a 10 per cent equity stake in a proposed 100-megawatt power plant in Ologbo as part of efforts to strengthen electricity supply and drive economic growth. The project is expected to improve power generation, create employment opportunities and generate long-term revenue for the state. Rather than simply allocating land for the […]
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Edo State has secured a 10 per cent equity stake in a proposed 100-megawatt power plant in Ologbo as part of efforts to strengthen electricity supply and drive economic growth.
The project is expected to improve power generation, create employment opportunities and generate long-term revenue for the state.
Rather than simply allocating land for the project, the state government negotiated a 10 per cent equity stake in exchange for providing the land and creating an enabling environment for the investment.
Governor Monday Okpebholo said the arrangement reflects the state’s commitment to leveraging strategic partnerships to accelerate development and improve infrastructure.
The Commissioner for Power, Hon. Paul Usenbo, said the investment demonstrates the administration’s resolve to build a stronger energy sector capable of attracting industries, boosting economic activities and improving the standard of living of residents.
The project is expected to enhance public-private collaboration, expand access to reliable electricity and strengthen Edo State’s long-term economic development.
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