{
  "id": 18044270,
  "title": "UK, Nigeria mobilise private capital for three hydro projects",
  "url": "https://urgent.news/2026/11/04/uk-nigeria-mobilise-private-capital-for-three-hydro-projects",
  "topic": "world",
  "section": "World",
  "published": "2026-11-04T00:46:51.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/uk-nigeria-mobilise-private-capital-for-three-hydro-projects/"
  },
  "original_language": "en",
  "account": "The United Kingdom and Nigerian governments are teaming up to attract private financing for three small hydropower projects in Oyo, Kano, and Plateau states, aimed at boosting electricity generation and improving power supply to underserved areas. The UK's Partnering for Accelerated Climate Transitions initiative is focusing on the Ikere Gorge project in Oyo State, the Ghari Dam in Kano State, and the NESCO hydropower cascade in Plateau State. At a recent investor roundtable in Abuja, policymakers, financiers, and developers discussed strategies to transition these projects from technical preparation to financial closure.\n\nThe UK's Deputy High Commissioner, Vicky Seymour, emphasized the collaboration's goal of moving the projects from technical assessments to implementation while enhancing electricity access and stimulating economic activities in local communities. Nigeria's Minister of Power, Joseph Olasunkanmi Tegbe, highlighted the government's commitment to fostering an enabling environment for renewable energy investments, noting that the 2023 Electricity Act has opened opportunities for state electricity markets and private sector involvement in power generation and distribution.\n\nAddressing community benefits, dam safety, and environmental protection is crucial for the long-term sustainability of these projects, according to the Nigerian Minister. A representative from Africa PPP Advisory, Dr. Gori Olusina Daniel, suggested that integrating hydropower with solar energy could significantly increase the overall generation capacity and reliability of the projects. The NESCO hydropower cascade, established in 1929, currently has an installed capacity of 25.5 megawatts but faces limitations due to aging equipment. The rehabilitation program aims to boost its capacity to approximately 40.25 megawatts.\n\nTechnical studies have identified a hydropower potential of up to 14 megawatts for the Ikere Gorge project in Oyo State, with a proposed hybrid development involving solar power targeting a capacity of 100 megawatts. The Rural Electrification Agency, representing the project's interest, noted that Nigeria possesses over 3,500 megawatts of untapped small hydropower potential, which could be harnessed for rural electrification, water supply, and agro-processing facilities. The agency is prepared to support viable projects through public-private partnerships and financing arrangements. The roundtable also featured the presentation of the zero draft of Nigeria's National Small Hydropower Policy, which aims to provide a framework for sector development and investment attraction.",
  "summary": "The UK and Nigerian governments are seeking private investment for three small hydropower projects in Oyo, Kano, and Plateau to expand electricity generati Read More: https://punchng.com/uk-nigeria-mobilise-private-capital-for-three-hydro-projects/",
  "key_points": [],
  "editors_take": "This collaborative push to de-risk renewable energy assets signals a shift toward leveraging international partnerships to unlock Nigeria's untapped small-scale hydropower potential for rural electrification.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}