In what is being described as a game-changing development for Nigeria’s power sector, billionaire businessman Dr. Deji Adeleke has completed the construction of a 1,250-megawatt gas-powered plant in Ajebamidele, Ondo State. The power project, developed by Adeleke’s Pacific Holdings, is one of the largest private-sector-led energy initiatives in Nigeria’s history.
The ₦2 trillion (approximately $2 billion) project is fully built and ready for commissioning. However, it remains offline pending connection to the national gas grid — a crucial final step needed before the turbines can be fired up and electricity generation can begin.
“This project is a testament to what Nigerian private capital and commitment can achieve,” a top executive at Pacific Holdings said. “All that is left is for the gas infrastructure to be in place.”
Once operational, the plant is expected to inject 1,250MW into the national grid — potentially boosting Nigeria’s current electricity generation capacity by as much as 25%. The country currently averages around 4,000–5,000MW in daily generation, despite a population exceeding 200 million.
The power station will also create over 2,000 direct and indirect jobs, with impacts expected across the Southwest region and beyond. It features cutting-edge turbine technology supplied by General Electric (GE), secured through international partnerships cultivated by Adeleke.
Experts say the project represents a major vote of confidence in Nigeria’s private infrastructure sector at a time when the country is grappling with worsening energy deficits, erratic supply, and ongoing grid instability.
Still, industry observers caution that the lack of adequate gas supply infrastructure has delayed several similar large-scale energy projects in the past. They warn that unless Nigeria fast-tracks pipeline expansions and resolves gas supply bottlenecks, the full benefits of such massive investments may be stalled.
Dr. Adeleke, the elder brother of Osun State Governor Ademola Adeleke and father of Afrobeat star Davido, has kept a relatively low profile in national politics but is widely regarded as one of Nigeria’s most influential and disciplined private investors.
The Pacific Holdings plant, once live, will not only improve access to reliable electricity but may also pave the way for more private-sector-driven solutions to Nigeria’s infrastructure challenges.
END