No fewer than 25 state governments will benefit from a newly approved $500 million loan from the World Bank aimed at enhancing water resource management for hydropower and irrigation projects.
On Tuesday, the Federal Government, through the Federal Ministry of Water Resources and Sanitation and the Ministry of Power, signed a Memorandum of Understanding (MoU) with the World Bank for the Sustainable Power and Irrigation for Nigeria (SPIN) project.
The signing ceremony took place in Abuja and was attended by Water Resources Minister Prof. Joseph Utsev and Power Minister Adebayo Adelabu.
The initiative is set to improve dam safety, enhance water resource management, and bolster hydropower and irrigation systems across the country.
The states that will benefit include 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.
“The $500 million SPIN project aims to enhance dam safety and improve water resource management for hydropower and irrigation across these 25 states,” the statement noted.
During the ceremony, Minister Adebayo Adelabu emphasized the significance of this partnership in promoting sustainable hydropower development and improving Nigeria's energy security. He pointed out that despite having abundant water resources, only 2% of Nigeria's 14-gigawatt hydropower potential has been utilized.
“Hydropower currently contributes about 20% of Nigeria’s grid supply,” Adelabu stated. “This collaboration underscores the Federal Government’s commitment to leveraging our natural resources for sustainable development.”
He further explained that through SPIN, the government aims to optimize water resources to provide clean energy while supporting irrigation and agriculture for enhanced food security.
Adelabu highlighted the MoU as a crucial step toward harnessing renewable energy and diversifying Nigeria's energy mix in line with the Nigeria Energy Transition Plan.
