Adedeji Adeleke, a prominent Nigerian businessman and the father of international music sensation Davido, has shared his arduous journey in obtaining an environmental permit for a substantial power plant project valued at over $2 billion. During a recent address at the Seventh Day Adventist General Conference Annual Council held in Maryland, USA, he delved into the challenges he faced while navigating regulatory hurdles as he pursued the construction of the largest power plant in Nigeria. His reflections highlighted the often frustrating interactions with government officials, specifically mentioning an encounter where a bureaucrat expressed skepticism regarding the feasibility of his project, declaring it would “never see the light of day”.
Adeleke, who operates Pacific Energy, a company that generates approximately 15% of Nigeria’s electricity, faced significant roadblocks that threatened to derail his ambitious plans. He detailed how, despite encountering these discouraging comments, he held firm in his belief that such pronouncements were not definitive. He attributed his resilience to his faith, emphasizing the importance of prayer in overcoming seemingly insurmountable obstacles. The power plant, which is set to produce 1,250 megawatts and finish construction by January 2025, represents a critical investment in Nigeria’s energy infrastructure and could have far-reaching implications for the nation’s electricity supply.
The challenges associated with regulatory approvals were compounded by the financial stakes involved. Adeleke revealed that significant resources had already been poured into the project’s preliminary phases, with a substantial portion of the funding sourced through collaborations with Chinese engineering firms. The potential for the project to fail not only jeopardized his business interests but also had repercussions for his international partners, particularly given the involvement of the Afrexim Bank of China, which could have led to bankruptcy for his Chinese partners.
In light of these challenges, Adeleke’s friend from China traveled to Nigeria to seek solutions, illustrating the breadth of concern over the project’s status. The situation underscores the often precarious nature of large-scale infrastructure projects, where external partnerships hinge on local governance and regulatory environments. Adeleke’s firm belief in prayer as a form of action, narrating how he sought divine intervention amidst despair, proved pivotal. His faith was rewarded as the then Minister of Power eventually granted the environmental permit after reviewing the project’s merits.
Reflecting on the broader implications of this experience, Adeleke underscored the need for persistence and faith in overcoming adversity in business. The story he shared resonates with many entrepreneurs who often face bureaucratic hurdles that can stifle innovation and investment. He urged attendees at the event to remain undeterred in the face of government resistance, encouraging them to seek resolutions through both tenacity and spiritual faith.
Adeleke’s commitment to developing Nigeria’s energy sector is particularly significant given the country’s ongoing struggles with electricity supply. By sharing his experiences, he affirms the importance of infrastructure development and highlights the role of entrepreneurship in driving national progress. As the completion date for the power plant approaches, his journey serves as an inspiration for others in the business community, illustrating how faith, determination, and collaboration can lead to overcoming formidable challenges.
