Financial Energy Review
……by Victor Egbo…..
The Niger State Government has signed the Memorandum of Understanding (MOU) with the Nigerian National Petroleum Corporation (NNPC) for the establishment of a Greenfield Hydroelectric power project, creation of solar parks in educational institutions, provision of solar home systems for 250,000 households, and the establishment of a 500 million-litre Ethanol Plant ball in the state.
Olalekan Ogunleye, NNPC’s Executive Vice President, Gas, Power and New Energy, and Kanayochukwu Odoe, NNPCL’S Managing Director, New Energy Limited, signed for the NNPC, while Governor Muhammed Bago of Niger State and Alh. Abubakar Usman, Secretary to the State Government (SSG), signed for the state.
Parties, as contained in the MoU, agreed to cooperate in the prevention and development of renewable energy and low-carbon solution projects, which is critical to reduce emissions and support the energy transition while ensuring clean energy access.
Governor Bago revealed that the collaboration aims to drive the development of four unique projects including a Greenfield Hydroelectric power project.
He said, “It will also involve a mega solar park in institutions and home solar systems for 250,000 households out of the 800,000 households in Niger state.
“The MoU will also be instrumental in the establishment of a 500 million liters Ethanol Plant with associated cultivation of Maize, Sugarcane, and Sweet Sorghum on 100,000 hectares of land in Niger state, producing over 500,000 tons of crops to fuel the ethanol plant,” Governor Bago stated.
The Governor mentioned NNPC’s commitment to plant 135 million trees on 100,000 hectares of land as part of its 2030 net zero targets and climate protection efforts.
He also expressed optimism about the historic MOU, saying the significant benefits it will bring to the people of Niger State.
The Niger State Governor highlighted the state’s commitment to clean energy and the utilization of its water resources to achieve green energy goals.
Olalekan Ogunleye, EVP, Gas, Power, and New Energy, NNPC, on his part stated that the national oil company will focus on clean energy and its potential to create a green energy economy in collaboration with Niger State.
Mr. Kanayochukwu Odoe, MD, NNPC New Energy Limited, described the partnership with Niger State as progressive and a step toward making Nigeria a hub for green energy and a green economy.
He stated that the signing of this MOU represents “a significant outcome of the first Green Economy Summit organized by the Niger State Government, showcasing the state’s dedication to maximizing the benefits of green energy for the betterment of all.”
