Taraba to Build 45 MW Power Plants, Seeks N3tn Funding from Devt Banks

Wole Ayodele in Jalingo

The Taraba State Government is set to build two power plants that would generate 35 and 10 megawatts of power to accelerate economic and social development of the state.

Therefore, the state Commissioner for Energy and Economic Development, Naomi Agbu, stated that the Governor Agbu Kefas administration is seeking to raise the sum of $1.5billion (about N3 trillion) from  development financial institutions, particularly ECOWAS Bank for Investment and Development; Africa Export-Import Bank (Afreximbank) and African Development Bank (AfDB).

Speaking at an interactive forum between the government and indigenes of the state resident in Abuja, Agbu stated that the Kefas administration is poised to fast-track economic growth of the state and reduce over dependence on federal allocation.

She disclosed that the state government is already in talks with the banks just as she revealed that discussions with the ECOWAS Bank for Investment and Development have reached an advanced stage

According to her, “For the ECOWAS bank, we’ve gone to an advanced stage, and right now we’re proceeding to board approval and presentation for our approval of some of the projects that have already been detailed.

“For Afreximbank, we’ve commenced document exchange with them and for the African Development Bank, we’re going to continue with the engagement. And we will be meeting with the Country Managing Director of African Development Bank to further the progress of Taraba State.

Agbu stated that the funds would be channeled into key sectors of the economy, including renewable energy, agriculture, and solid minerals, stressing that investing in power was critical to the economic survival of the state.

She lamented that five out of the 21 local government areas of the state are not connected to the national grid, adding that the present power allocation to the state from the national grid is grossly inadequate.

Also speaking at the event, the Commissioner for Heritage and Ecotourism, Joseph Nagombe, stated that the state government is targeting to generate N3billion annually from tourism to boost its revenue generation.

He noted that the Governor Kefas administration has revamped tourism in the state with the resuscitation of the popular Nwonyo International Fishing Festival and the celebration of the Febe Cultural Festival as well as the celebration of World Tourism Day.

He, however, appealed to Gen. Theophilus Danjuma (rtd) to build a five star hotel on the Mambilla Plateau, Sardauna Local Government Council of the state to boost tourism activities, just as he urged investors to take advantage of the enabling environment provided by the current administration to invest in the tourism sector.