The federal government has signed a major Concession Agreement valued at $1.5 billion for the Grand Katsina-Ala Hydropower Project.
Also, the government formally appointed Maverick Energy Partners as preferred concessionaire for the development, financing, construction and operation of a 460 megawatts storage hydropower facility on the Katsina-Ala River in Benue State.
The project, arranged under a 35-year Design, Finance, Build, Operate and Transfer (DFBOT) public-private partnership (PPP) framework, has the federal government holding 10 per cent minimum equity participation through the Ministry of Finance Incorporated (MOFI).
The financial close is expected in 2027.
A statement issued in Abuja, dated May 22, 2026, signed by the Chairman of Maverick Energy Partners, Dr Johnson B.O. Adewumi, stated that the agreement represents one of the largest sovereign-backed renewable energy infrastructure concessions in Nigeria in recent years and marks an important milestone in the evolution of public-private infrastructure delivery across Africa.
The signing, according to the statement, followed a multi-year approvals process involving the Federal Executive Council concession approval, Infrastructure Concession Regulatory Commission certification and Transmission Company of Nigeria grid connection approval, reflecting an unusually advanced level of federal coordination and institutional alignment.
More than an energy project, Grand Katsina-Ala is positioned as a long-term economic development platform designed to strengthen productivity, industrialisation and food security.
Benue State, widely recognised as Nigeria’s agricultural heartland, sits within one of West Africa’s most productive agricultural corridors.
Access to reliable and affordable electricity has direct implications for agro-processing capacity, irrigation infrastructure, cold-chain logistics, manufacturing activity and broader supply-chain resilience across the region.
For Benue State, the statement noted that the project represents one of the largest infrastructure initiatives in the region in recent years, with implications extending beyond electricity generation into broader investment and economic activity.
It pointed out that reliable and affordable electricity remains one of the most significant structural constraints to economic productivity across much of the continent.
For regions with major agricultural potential, stable energy infrastructure has the capacity to strengthen value chains, reduce post-harvest losses and unlock broader industrial activity.
The project also reflects wider continental priorities around regional integration, industrial development and infrastructure expansion as African economies increasingly seek to convert resource and agricultural potential into long-term productive capacity.
With an installed capacity of 460 MW and projected annual generation of approximately 2,401GWh, the partners said Grand Katsina-Ala was expected to provide system-critical baseload power to Nigeria’s national grid while supporting growing industrial and commercial demand.
They maintained that hydropower remains among the few renewable technologies capable of delivering stable baseload capacity at scale, positioning projects such as Grand Katsina-Ala at the intersection of energy transition priorities and long-term economic development objectives.
The partners said the project was expected to create direct and indirect employment opportunities across engineering, construction, logistics, operations, agriculture and associated industries, with multiplier effects anticipated across local communities and regional supply chains.
They added that the project aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and broader federal priorities around infrastructure-led growth, energy security, economic diversification and accelerated industrial development.
According to the statement, the project also supports national objectives aimed at strengthening agricultural productivity, expanding domestic value creation and improving long-term economic competitiveness.
They said Grand Katsina-Ala reflects years of technical development work, stakeholder engagement and sovereign coordination by Maverick Energy Partners, which identified the site as a major long-term opportunity for regional economic development.
According to the statement, Maverick Energy Partners brings exceptional depth of experience and technical capability to the project.
The statement stated that the consortium’s principals, Dr Johnson B.O. Adewumi, Babatunde Adewumi and Jean Binquet (Partner), collectively bring decades of frontline hydropower development expertise across Africa, including direct involvement in some of Nigeria’s most significant national hydropower programmes such as Zungeru Hydropower Project, MambillaHydropower Project and Gurara Hydropower Project.
It added that their combined experience spans engineering, procurement, construction and full lifecycle project development across complex sovereign environments, with associated experience across more than 60,000 MW of energy infrastructure globally.
“Grand Katsina-Ala is not simply a power project; it is a platform for economic transformation. Reliable baseload power creates the conditions for industry, manufacturing, agro-processing and long-term regional growth.
“We have worked for years alongside the Federal Government and our partners to build a framework that is commercially rigorous, technically strong and capable of delivering lasting impact. We believe this project can establish a new benchmark for large-scale public-private partnerships in Africa”, the statement noted.
Speaking on the deal, Chairman of Maverick Energy Partners, Adewumi, was quoted to have said: “Grand Katsina-Ala represents something larger than infrastructure alone. Benue is the food basket of Nigeria, and infrastructure of this scale has the potential to strengthen agriculture, unlock regional industry, create employment and improve economic prospects for future generations. We believe this can become a model for how strategic national infrastructure is delivered across the continent.”
The statement explained that London-headquartered GAN International Ltd and Blackwell Advisors Ltd led strategic advisory and capital mobilisationactivities across project architecture, financing strategy, investor engagement, EPCF engagement, sovereign stakeholder alignment and communications strategy.
It stated further that the advisory mandate focused on supporting project bankability, international financing engagement and long-term capital positioning.
GAN International operates across Africa, the Middle East and Latin America, advising governments and project sponsors on sovereign frameworks and infrastructure finance architecture.
On the other hand, Blackwell Advisors provides strategic and capital advisory support across complex infrastructure transactions.
The advisory team was led by Brigitte Tilley-Gyado, Founder of GAN International Ltd and Blackwell Advisors Ltd and an indigene of Benue State.
“Africa does not suffer from a shortage of capital; it suffers from a shortage of bankable projects. Grand Katsina-Ala demonstrates what becomes possible when sovereign commitment, technical capability and long-term capital align around a shared development objective”, Tilley-Gyado said.
She added: “As global investors increasingly seek scalable infrastructure opportunities across emerging markets, Grand Katsina-Ala combines sovereign participation, renewable energy fundamentals and long-term economic development priorities within a framework intended to support long-term investment, execution and economic impact.”
Peter Uzoho
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