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Adedeji Adeleke Reveals Challenges in Securing Permit for $2B Power Project

byGrace Amos
October 16, 2024
in Business
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Adedeji Adeleke, father of renowned musician Davido, recently shared his challenges in obtaining the environmental permit for his $2 billion power plant.

Speaking during the Seventh Day Adventist General Conference Annual Council in Maryland, USA, the billionaire businessman detailed the hurdles he faced with government officials, particularly one who told him his project “would never see the light of day.”

Adeleke, a Baptist, said he prayed and refused to accept the official’s words as final for his company, Pacific Energy, which was collaborating with Chinese engineering firms on the project.

“I own a power plant and provide about 15% of Nigeria’s electricity. We’re building the largest power plant in Nigeria, a 1,250-megawatt project to be completed by January 2025,” Adeleke explained.

He recounted how the project faced setbacks due to the denial of an environmental permit, leading to concerns from his Chinese partners, who feared bankruptcy. However, Adeleke remained optimistic, relying on faith. Eventually, the project received approval from the Minister of Power, who recognized its value.

Adeleke had previously discussed this project during a speech at the 9th graduation ceremony of Adeleke University in Osun State in July 2023.

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Grace Amos

Grace Amos

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