The Federal Government says Nigeria has enough water resources to generate 14,000 megawatts of electricity.
This was as the Minister of Power, Adebayo Adelabu, and his Water Resources and Sanitation counterpart, Joseph Utsev, signed a memorandum of understanding towards sustainable development.
The Memorandum of Understanding was for implementing the World Bank Sustainable Power and Irrigation Project for Nigeria programme.
According to a statement by the media aide to the Minister of Power, Bolaji Tunji, the signing ceremony on Tuesday in Abuja marked a collaborative effort to harness Nigeria’s abundant hydropower potential.
The ministers were said to have signed the MoU before senior government officials, development partners from the World Bank and other key stakeholders.
Speaking, Adelabu highlighted the significance of the SPIN programme in diversifying Nigeria’s energy mix, enhancing energy security, and combating climate change.
He noted that hydropower currently contributes about 20 per cent of Nigeria’s 5,000MW grid supply, with a potential estimated at 14,000MW.
However, he said only 15 per cent of the 14,000 MW potential had been tapped.
“This collaboration underscores the Federal Government’s commitment to leveraging our natural resources for sustainable development.
“Through SPIN, we aim to optimise water resources to provide clean and reliable energy while supporting irrigation and agriculture for enhanced food security,” Adelabu said.
Similarly, the water resources minister emphasised the importance of integrating water and energy to foster socio-economic growth.
“This project will deliver the dividends of democracy that Nigerians are waiting for.
“The Federal Government, with support from the World Bank, remains dedicated to addressing developmental challenges in the country and delivering transformative results through innovative and strategic partnerships,“ he said.
The statement concluded that the SPIN initiative aligns with Nigeria’s Energy Transition Plan and the 2023 Electricity Act both of which prioritise renewable energy and infrastructure development to drive economic growth and environmental sustainability.