Date: 2019-12-23

Kwara State Government is partnering two private firms, Libra Capital Skypower Limited and Almakaz Global industrial in Nigeria to create 10,000 jobs and generate 5,000 megawatts of electricity.

The partnership is on renewable power plants and operations of standard agro-industrial parks in the state.

Secretary to the State Government (SSG), Prof Mamman Jubril, and representative of the firms in Nigeria and West Africa, Ambassador Makinde Akinlabi, signed the Memorandum of Understanding (MOU) on behalf of the parties in Ilorin.

Akinlabi said with the signing of the MOU, experts from abroad would come to Kwara to commence operations.

He remarked that LCL-Skypower has the williness, the financial capacity and expertise to construct solar/thermal power stations; wind, hydro electric power stations, waste energy plants with minimum capacity of 5,000 megawatts electricity capacity.

Akinlabi explained further that the purpose of the MOU was for the state government to accept in principle that the projects would be financed through Islamic bonds called SUKUK Emussion Funds structured through global correspondent banks acting as reputable book runner.

Director, Libra Capital Limited, Mr. Yomi Ige, said that operations of standard agro-industrial parks would take into consideration the agricultural needs of the state government and the government policies with regards to its agro-food diversification inclination, agricultural supply and the promotion of food self-sufficiency, food security and residual industrial demands.