The Federal Government and the United Kingdom are seeking to attract private sector investment into three small hydropower projects in Oyo, Kano and Plateau states as part of efforts to boost electricity generation and improve power supply to underserved communities.

The initiative, supported by the UK Partnering for Accelerated Climate Transitions (UK PACT), targets the development and rehabilitation of the Ikere Gorge project in Oyo State, Ghari Dam in Kano State and the NESCO hydropower cascade in Plateau State.

The projects were the focus of an investor roundtable held in Abuja, where policymakers, financiers and developers explored strategies to move them from technical preparation to financial close.

Implemented by Africa PPP Advisory and Ratio Consulting, the programme has supported feasibility studies, dam safety assessments, environmental and social safeguards, energy audits, financial modelling and transaction structuring for the projects.

Speaking at the meeting, the British Deputy High Commissioner, Vicky Seymour, said the UK was collaborating with Nigerian partners to attract private capital into renewable energy development.

She explained that the partnership was designed to move the projects from technical assessments to implementation, while expanding electricity access and supporting economic activities in beneficiary communities.

Nigeria’s Minister of Power, Joseph Olasunkanmi Tegbe, represented by the Special Adviser to the President on Power, Martin Olajide, reaffirmed the Federal Government’s commitment to creating an enabling environment for renewable energy investments.

He said the Electricity Act 2023 had opened up opportunities for state electricity markets and expanded private sector participation in power generation and distribution.

Tegbe urged stakeholders to address outstanding issues relating to water availability, power evacuation, power purchase agreements and payment security to ensure the projects achieve financial close.

He also emphasised the need to prioritise community benefits, dam safety and environmental protection to guarantee the long-term sustainability of the projects.

Meanwhile, the Managing Partner of Africa PPP Advisory and Programme Director of the UK PACT Clean Energy Transition Run-of-River Small Hydropower Programme, Dr Gori Daniel, said integrating hydropower with solar energy could increase electricity generation capacity and improve supply reliability across different seasons.