Billionaire businessman and CEO of Pacific Holdings Limited, Deji Adeleke, has announced the completion of his 1,250-megawatt power plant located in Ajebamidele, Ondo State. The plant, which is now fully constructed, is awaiting connection to the gas grid to commence electricity generation.
Adeleke made the announcement during the 11th undergraduate and 7th postgraduate convocation of Adeleke University in Ede, Osun State, on Sunday. He revealed that the \$2 billion facility is expected to employ over 2,000 engineers and support staff, making it one of the largest power infrastructure contributions by a private individual in Nigeria.
“The power plant is ready, I am only waiting to be connected to the gas grid to start generating power. That plant will employ over 2,000 engineers and other associated workers,” he said. Highlighting the critical role of strategic partnerships in realizing the project, Adeleke credited his relationship with General Electric (GE) for the supply of turbines, without which the project might not have materialized. “Imagine if, not because of my relationship, we are not able to get GE to supply the turbine to us… that means the power plant will not be built. That means the jobs will not be there,” he stated.
Adeleke’s remarks come amid Nigeria’s long-standing power crisis. Despite a potential generation capacity of over 12,000MW, the country struggles to distribute even 5,000MW to its population of over 200 million. He noted that insecurity, poor governance, and electoral malpractice deter foreign investment, which in turn limits job creation. “Nobody wants to come to a society where votes do not count, where the electorate do not have a say,” Adeleke stressed.
He further recalled setbacks during the plant’s construction, including an incident in which \$5 million worth of turbine parts were stolen, causing a year-long delay. Adeleke also used the convocation platform to advocate for electoral reform, urging Nigerians to uphold democratic values to foster an environment conducive to foreign direct investment and sustainable job creation.
Source : https://www.premiumtimesng.com/
