At least 25 state governments will benefit from a newly approved $500 million World Bank loan aimed at improving water resource management, hydropower, and irrigation systems across the country.
The Federal Government, through the Ministry of Water Resources and Sanitation and the Ministry of Power, signed a Memorandum of Understanding (MoU) with the World Bank on Tuesday to implement the Sustainable Power and Irrigation for Nigeria (SPIN) project.
The signing ceremony was attended by the Minister of Water Resources and Sanitation, Prof. Joseph Utsev, and the Minister of Power, Adebayo Adelabu. The states set to benefit from the project include Benue, Katsina, Akwa Ibom, Niger, Gombe, Sokoto, Enugu, Bauchi, Cross River, Nasarawa, Ekiti, Kebbi, Plateau, Ebonyi, Zamfara, Abia, Kwara, Imo, Taraba, Kano, Delta, Osun, Jigawa, Edo, and Kogi.
The SPIN initiative aims to enhance dam safety, improve water management, and optimize hydropower and irrigation systems nationwide, helping to unlock Nigeria’s hydropower potential, which currently utilizes only 2% of its 14-gigawatt capacity.
Minister of Power Adebayo Adelabu highlighted the importance of the partnership for sustainable hydropower development and energy security, stating that hydropower currently provides 20% of the country’s grid supply, but the vast potential remains largely untapped.
Adelabu emphasized that the SPIN project aligns with Nigeria’s Energy Transition Plan and will help optimize renewable resources while supporting agriculture and food security.
Minister Utsev described the project as crucial for improving food production, creating jobs, and stimulating economic growth. He expressed confidence that SPIN would meet Nigeria’s irrigation needs and provide significant benefits to the population.
The World Bank has been a trusted partner in advancing Nigeria’s development, particularly in water and agriculture, with initiatives like the Transforming Irrigation Management in Nigeria project, set to conclude in January 2025.
