Nigerians set to enjoy 24-hours electricity as firm partners IBEDC to give stable power

• Ibadan Electricity Distribution Company, Magboro Power Company, and Bresson A S have teamed up to deliver reliable power
• This embedded power supply technology is part of the first phase of the Magboro Power Plant project
• The first shipment of Titan 130 Solar Turbines is expected to arrive at the Magboro project by the end of April 2025

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

Bresson A S, Magboro Power Company, and Ibadan Electricity Distribution Company (IBEDC) have partnered to provide residents of Magboro Community in Ogun State with a 24-hour uninterrupted power supply.

The construction of the Magboro Power plant started roughly 20 years ago. Photo Credit: Contributor
Source: UGC

This embedded power supply solution is a component of the Magboro Power Plant project's initial phase.

Dr. Gbenga Olawepo Hashim, the chairman and chief executive of Bresson AS, said that the construction of the Magboro Power plant started roughly 20 years ago during the formal signing and unveiling of the 30 megawatts (Mw) Power purchase agreement (PPA) between Bresson A S, Magboro Power Company, and Ibadan Distribution Company yesterday at the Sheraton Hotel, Ikeja, Lagos.

He said that by the end of April 2025, the Magboro plant, which is intended to be a 90Mw plant, should get its first shipment of Titan 130 Solar Turbines, The Nation reported.

According to Dr Hashim, the plan will guarantee that inhabitants of Magboro will receive a premium electricity supply and that electricity will be delivered to the benefiting villages at a rate that is less than what is obtained in the Band A belt of the electrical market.

“Premium customers around Magboro, Mowe are expected within 11 months to benefit from 24hours uninterrupted electricity supply as a result of collaboration between Bresson and Ibadan Electricity Distribution Company at a price below current band A charges.“The journey started 20 years ago. We shall provide a premium service to residents at a cost lower than what is charged in the electricity market,” Dr. Hashim said.

Similarly, Francis Agoha, an engineer and the Acting Managing Director of IBEDC, emphasised that the relationship is in line with the company's strategic objective of increasing consumer energy availability, adding that the utility looks forward to partnerships and initiatives such as this.

“The beauty of this collaboration is that electricity supply from this arrangement is coming off grid because it is embedded power. Ogun State government is acting in this case as the regulator and we look forward to more of this.”

Agoha added that the agreement marks a significant milestone in the utility’s continuous efforts to ensure consistent and affordable power for the Magboro community and beyond.

He further assured that IBEDC is committed to forging partnerships that foster progress and deliver lasting solutions to the power challenges faced by communities within our network.

The Special Adviser on Energy to the Ogun State Governor, Jide Onakoya, expressed satisfaction with the project, saying that it aligns with the state government’s desire to open the state to investors.

“We are ready to support projects like this as we are open up on how power is provided for the people,” Onakoya said.

Similarly, the Olu of Magboro, Oba Modiu Ademuyiwa Alalade, expressed joy at the coming to fruition of the project.

“Bresson As acquired the land for this project from my father and I am happy today that they didn’t change their mind on the project. We are happy that they are set to commence operation now,” Oba Alalade said.

The Chairman of the Magboro CDC, Prince Adeshina Olukoya, welcomed Bresson saying,

“The Magboro Community is happy that this is happening, we are really excited about.”

Nigeria gets US investor for electricity project

Legit.ng reported that to guarantee Nigeria's commitment to electrical sector reforms, market openness, liquidity, and expanding access to cheap power, the Federal Ministry of Power and the US Agency for International Development signed a memorandum of agreement on Wednesday, July 10.

This was declared by both parties in a statement released by the ministry of power in Abuja as reported by The Punch.

The MOU aims to support the implementation of a N115.2 billion US government grant-funded technical assistance program intended to support power sector development and reforms in Nigeria.

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Source: Legit.ng