Ede-Osun State- born billionaire businessman, Dr. Adedeji Adeleke is on the verge of becoming the biggest producer of energy in Nigeria after announcing that construction works have been completed on his new mega power project in Ajebamidele, Ondo State. The $2 billion facility, built under his company Pacific Energy, is a 1,250-megawatt gas-fired plant now awaits final connection to the national gas grid before to commence operations.
“The power plant is ready,” Adeleke said. “I’m only waiting to be connected to the gas grid to start generating power. The project will employ more than 2,000 engineers and other workers.”
Once operational, the plant is expected to boost Nigeria’s power generation capacity, helping to meet growing demand across the country.
Reflecting on the challenges faced during development, Adeleke—who also serves as pro-chancellor of Adeleke University in Ede, Osun State—pointed to the difficulties of securing key infrastructure components. “If not for my connections, we wouldn’t have been able to get GE to supply the turbines,” he said. “That would have stalled the entire project. And without the project, those jobs wouldn’t exist. But who wants to invest in a country where votes don’t count and citizens have no voice?”
Adeleke founded Pacific Holdings in 1983, originally as a borehole drilling and water treatment firm. Over the years, the group has grown into a wide-reaching enterprise with interests spanning banking, education, energy, agriculture, real estate, and logistics. Among its various businesses, Pacific Freightliners plays a significant role in Nigeria’s logistics space.
Pacific Energy, its power generation subsidiary, currently runs two gas-powered plants in the southwest: the Omotosho Power Plant in Ondo State, producing 336.8 megawatts, and the Olorunsogo Power Plant in Ogun State, with a capacity of 304 megawatts.
Combined, they bring Pacific Energy’s total output to 640.8 megawatts—well ahead of Geregu Power (435MW) and closing in on Transcorp Power (972MW). With a new 1,250-megawatt plant nearing completion in Ondo State, Pacific Energy is on the verge of becoming Nigeria’s largest power producer.