Taraba Targets Power Shortage with $98m Solar Project

Taraba State has signed loan agreements worth $268 million with the ECOWAS Bank for Investment and Development (EBID) to finance three major projects. The biggest part of the funding, about $98 million, will build a 50-megawatt solar power plant in Jalingo, the state capital.

Governor Agbu Kefas signed the agreements with EBID President George Agyekum Donkor at the bank's headquarters in Lomé, Togo, on June 26.

Nigeria continues to face serious electricity challenges despite years of investment in the power sector. Many homes, businesses and factories still depend on costly generators because public electricity is not reliable.

Several state governments have started looking for other ways to improve power supply and support economic activities within their states. Taraba has now joined that effort with a major investment package that links electricity, farming and industrial development.

Solar power to support economic activities

The planned solar plant is expected to improve electricity supply in the state and reduce reliance on conventional sources of power. Better electricity is expected to help businesses, support industries and improve daily life for residents.

Another $91.23 million from the financing package will fund the first phase of an integrated industrial park. The project is planned as a centre for manufacturing and logistics that can attract private investors and create employment opportunities.

EBID described the three projects as one coordinated investment plan designed to strengthen Taraba's economy through power, industry and agriculture.

The third loan, valued at $79.21 million, will support the development of 10,000 hectares of irrigated rice farms. The project also includes the construction of a modern rice mill and processing plant.

The state government believes the programme will increase rice production, improve farmers' incomes and help Nigeria reduce its dependence on imported rice. Processing the rice within Taraba is also expected to create more jobs and keep more economic value inside the state.

EBID said the projects fit into its Growth, Resilience and Optimisation strategy, which supports investments with economic, social and environmental benefits for West African countries.

Kefas described the agreements as an important step in Taraba's development plans. He said the projects would improve electricity supply, strengthen industrial activities and support food production.

The Taraba government linked the financing to its 2025 TARAVEST investment summit, which was organised to attract investors into the state. State officials have described the package as the largest single foreign investment secured by any Nigerian state in 2025.

Attention will now turn to how the projects are carried out. The success of the investment will depend on the timely completion of the solar plant, industrial park and rice development programme, as well as careful management of the loan funds.