Table of Contents
Key Points
- Adedeji Adeleke’s $2 billion gas-fired plant is complete and awaits connection to Nigeria’s national gas grid before starting operations.
- The 1,250MW plant will employ over 2,000 workers and position Pacific Energy among Nigeria’s top power producers.
- Adeleke warns of investor risks in Nigeria, citing infrastructure delays and political instability as major development hurdles.
Nigerian businessman Adedeji Adeleke, father of Afrobeats star Davido, has confirmed that construction has been completed on a major new power project in Ajebamidele, Ondo State. The $2 billion facility, built under his company Pacific Energy, is a 1,250-megawatt gas-fired plant that now awaits final connection to the national gas grid before it can begin operations.
Nigeria’s energy gaps drive ambition
“The power plant is ready,” Adeleke said. “I’m only waiting to be connected to the gas grid to start generating power. The project will employ more than 2,000 engineers and other workers.” The plant is expected to boost Nigeria’s power generation capacity, helping to meet growing demand across the country. Once operational, it will position Pacific Energy among Nigeria’s top independent power producers, alongside players such as Transcorp Power and Geregu Power.
Reflecting on the challenges faced during development, Adeleke—who also serves as pro-chancellor of Adeleke University in Ede, Osun State—pointed to the difficulties of securing key infrastructure components. “If not for my connections, we wouldn’t have been able to get GE to supply the turbines,” he said. “That would have stalled the entire project. And without the project, those jobs wouldn’t exist. But who wants to invest in a country where votes don’t count and citizens have no voice?”
Adeleke builds quiet empire in Nigeria
Though many know him as the father of an international music icon, Adedeji Adeleke is a seasoned entrepreneur with a business track record spanning four decades. He founded Pacific Holdings in 1983, originally as a borehole drilling and water treatment firm.
Over the years, the group has grown into a wide-reaching enterprise with interests spanning banking, education, energy, agriculture, real estate, and logistics. Among its various businesses, Pacific Freightliners plays a significant role in Nigeria’s logistics space.
Pacific Energy nears output milestone
Still, it’s through Pacific Energy—its power generation subsidiary—that Adeleke has made some of his most notable strides lately. The company currently runs two gas-powered plants in the southwest: the Omotosho Power Plant in Ondo State, producing 336.8 megawatts, and the Olorunsogo Power Plant in Ogun State, with a capacity of 304 megawatts.
Combined, they bring Pacific Energy’s total output to 640.8 megawatts—well ahead of Geregu Power (435MW) and closing in on Transcorp Power (972MW). With a new 1,250-megawatt plant nearing completion in Ondo State, Pacific Energy is on the verge of becoming Nigeria’s largest power producer. The only thing left is securing the gas supply to bring the plant online.
