Japan has committed a staggering amount of $500 million to enhance power supply in Ogun and Lagos States.
Minister of Power, Adebayo Adelabu announced the significant investment during a courtesy visit from Ogun State Governor, Dapo Abiodun on Friday.
Adelabu in a statement released by his spokesman, Bolaji Tunji added that the investment will come through the Japanese International Cooperation Agency (JICA).
The Minister said the money will primarily be spent to boost transmission infrastructure along the Lagos-Ogun industrial corridor.
“The initiative which shows Japan’s commitment to supporting Nigeria’s economic development is expected to benefit key industrial clusters in Agbara, Mowe and Shagamu,” Adelabu said.
“This investment is set to significantly enhance power transmission capabilities, particularly within the Ogun industrial corridor.”
Adelabu explained in details the broader implications of this investment, adding that it aligns with the objectives of the Presidential Power Initiative (PPI), which aims to bolster Nigeria’s power infrastructure nationwide.
“The initiative includes the construction of additional power transmission substations, upgrading existing facilities and reinforcing high-voltage power lines to increase capacity and reliability,” the minister said.
As well as the JICA-funded project, Adelabu revealed ongoing projects by the Transmission Company of Nigeria (TCN) aimed to further improve power supply in Ogun State.
