Thieves have reportedly carted away vital equipment from power turbines worth about N57bn ($72m) at N792/$1, which were meant for the construction of a 1,250 megawatts plant in Ajebandele village, Ondo State.

Addressing the 9th set of graduates of the Adeleke University, Ede, Osun State, on Tuesday, the Pro-Chancellor of the institution, Dr Deji Adeleke, said the looters invaded the power plant site to steal components of the turbine, which cost about N56bn ($72m), adding that this might lead to a delay in delivering the project in record time.

Adeleke, one of the leading industrialists in Nigeria, commenced the project a few years ago to complement the existing 4,000MW being generated by the 26 plants in-country. The plant is estimated to cost a total of N1.6tn ($2bn).

“I am building a 1,250MW power plant. Nigeria has about 5,000MW, adding mine to it is a lot. The cost is $2bn. We started it in a village in Ondo state. We brought in turbines that cost about $72m

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