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Home Business News

Buhari approves construction of new Hydropower Generating plant for Imo state

Chike Olisah by Chike Olisah
September 26, 2022
in Business News
Buhari approves construction of new Hydropower Generating plant for Imo state
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President Muhammadu Buhari has approved the construction of a 10-megawatts hydropower generating plant at Otamiri and Nworie River in Imo state.

The Imo state government has also concluded plans to establish the Orashi Free Trade Zone for oil and gas, with an expected initial $1.5 billion foreign investment and the creation of over 300,000 jobs following the approval for the dredging of Orashi River into the Atlantic Ocean.

According to a statement from Imo state government on its official Twitter account, this was made known by Governor Hope Uzodimma at the preliminary luncheon for the 62nd Independence Day Thanksgiving Mass, where he hosted Ndi Imo at the Government House Banquet Hall in Owerri.

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Governor Uzodimma said the Hydro Power Generating plant at Otamiri and Nworie Rivers, is geared towards generating and supplying uninterruptible power supply within Owerri Metropolis and beyond.

What the statement from Imo State Government is saying

The statement also noted that the governor appealed to the conscience of the Imo people to shun violence and bearing of arms as options to address marginalization as the state government is addressing such issues.

The statement partly reads, ‘’Imo State is yet again enjoying dividends of Democracy from the federal government, through the interventions of His Excellency, Distinguished Senator Hope Uzodimma as the president has approved the construction of a 10Mwatts hydropower generating plant at Otamiri and Nworie Rivers.

‘’According to the Governor, the hydro power generating plant at Otamiri and Nworie Rivers, is geared towards generating and supplying uninterruptible power supply within Owerri Metropolis and beyond.

‘’The governor added that with the recent approval for the dredging of Orashi River into the Atlantic Ocean, the Government has plans to float the Orashi Free Trade Zone for Oil and Gas.

“With an initial $1.5b foreign investment, this will translate to much more than 300,000 job and economic opportunities.

‘’The governor therefore, appealed to the conscience of the people to shun violence and arms bearing as options to address marginalization as the Shared Prosperity Government is addressing such issues.’’

It also stated that the luncheon was attended by Wife of the Governor, Barr. Chioma Uzodimma, top government functionaries like the deputy governor, Prof Placid Njoku; Speaker of Imo State House of Assembly, Rt. Hon. Emeka Nduka (leading his principal officers and other members); secretary to the Government of Imo State, Chief Cosmas Iwu; chief of staff to the governor, Barr Nnamdi Anyaehie; commissioners, other government appointees and heads of government agencies and parastatals.


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Tags: Hydropower Generating PlantImo StateOrashi Free Trade ZonePresident Muhammadu Buhari
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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