Southwest States to launch regional electricity, rail projects

The Southwest States of Nigeria have agreed to launch regional railway and electricity projects following the decentralization of the operation of power and rail, among others, through the Electricity and Railway Acts 2023 signed by President Muhammadu Buhari.

This decision came after a two-day conference organized by the Development Agenda for Western Nigeria (DAWN) Commission in collaboration with Odu’a Investments Company Ltd. The conference highlighted the need for inter-connectivity among the six states, namely Ondo, Ogun, Osun, Oyo, Ekiti, and Lagos, and the need for a uniform legal framework to attract investors and avoid legal lacuna.

READ:Construction of Singrobo-Ahouaty hydropower plant project nears completion

Growth to Nigeria

The DAWN Director General emphasized the urgency of building rail and power infrastructures, pointing out that the region was in the best position to set the pace for others, with an estimated population of 45 million, over 200 manufacturing industries, and huge trade and commercial activities accounting for 37% of Nigeria’s GDP.

The region also needs to prepare for the opportunities that the road being constructed by the African Development Bank, which will connect about five West African countries and Lagos, will bring. Failure to build power and transportation sectors could lead to job, tax, and other losses for Nigeria, especially the Southwest region, as manufacturing companies may move their production to neighboring countries and export their products to Nigeria, which has the market.

Overall, the launch of regional railway and electricity projects in the Southwest region of Nigeria is expected to deliver economic and social benefits to the region and potentially set a precedent for other regions to follow.