Adedeji Adeleke, billionaire businessman and father of music superstar Davido, has opened up about the hurdles he faced while securing the environmental permit for his $2 billion power plant project, set to be Nigeria’s largest upon completion. Adeleke shared his experience during the Seventh Day Adventist General Conference Annual Council in Maryland, USA, on Tuesday.
Speaking as a layperson from the West-Central Africa Division, the founder of Pacific Energy recounted how a difficult government official nearly stalled the power plant project, which is expected to generate 1,250 megawatts and account for 15% of Nigeria’s electricity needs.
Adeleke revealed that during the process of obtaining the necessary permits, he encountered significant resistance from certain government officials. One official bluntly told him that his project “would never see the light of day.”
Reflecting on this experience, Adeleke said, “The official spoke to me as if he was God. In my mind, I rejected his statement, knowing that only God has the final say. I prayed and asked God to intervene, as I didn’t want the project, which had already consumed substantial investment, to fail.”
The billionaire explained that his company had partnered with Chinese engineering firms for the design and construction of the power plant. When the permit was initially denied for environmental reasons, his Chinese collaborators grew concerned, especially since the project was financed in part by Afrexim Bank of China. Adeleke recalled his Chinese partner’s fears of potential bankruptcy if the project stalled indefinitely. However, Adeleke remained optimistic, advising his partner not to worry and reassuring him that prayer would pave the way forward.
Adeleke’s persistence paid off. The then-Minister of Power later granted the necessary approvals, recognizing the potential of the project. “The minister saw that it was a brilliant project, and eventually, we were able to move forward,” Adeleke said.
The power plant, which is expected to be completed by January 2025, is poised to be a transformative project for Nigeria’s energy sector. Adeleke had previously spoken about this milestone project during the 9th graduation ceremony of Adeleke University in July 2023.
Despite the challenges, Adeleke’s determination and faith played a critical role in overcoming the obstacles that threatened to derail the multi-billion dollar venture.
