FG SIGNS 30-YEAR CONCESSION FOR 6MW IKERE GORGE HYDROPOWER PROJECT IN OYO STATE
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By Aishat Momoh. O.
The Federal Government has signed a 30-year concession agreement with Quaint Energy for the development of the 6-megawatt Ikere Gorge Hydropower Project in Oyo State, marking a major milestone in Nigeria’s push toward cleaner and more sustainable electricity generation.
The agreement, signed on Wednesday in Abuja, was witnessed by the Minister of Power, Chief Adebayo Adelabu, who described the event as the culmination of over a decade of negotiations between the government and the private developer.
Adelabu said the Ikere Gorge initiative, alongside the 2MW Omi-Kampe Hydropower Project in Kogi State, forms part of the Federal Government’s strategic plan to expand renewable energy generation, enhance energy access, and strengthen subnational electricity markets.
“This event marks another important milestone in our collective journey toward achieving a sustainable, reliable, and affordable power supply across Nigeria,” Adelabu said.
He explained that the projects represent more than just energy investments they serve as catalysts for rural industrialisation and agricultural productivity.
“Once fully developed, these plants have the potential to deliver reliable electricity to surrounding communities, support agricultural processing zones, small industries, and social infrastructure, and catalyse rural economic transformation,” the minister added.
Although the signing for the Omi-Kampe project was deferred to allow for final contractual alignment, Adelabu stressed that both ventures reaffirm the government’s commitment to private sector-led growth in the power industry.
According to him, the government is focused on ensuring policy stability, a transparent regulatory environment, and risk mitigation mechanisms to attract credible investments.
“The Ikere Gorge and Omi-Kampe Dam projects are not just hydropower concessions; they are strategic interventions that underscore the Federal Government’s resolve to expand energy access and enhance local industrial productivity through clean, renewable energy,” he said.
Through such public–private partnerships, he added, the government aims to unlock private capital, technology, and innovation to deliver infrastructure that directly benefits citizens and bolsters national energy security.
The Ikere Gorge Dam, conceived in the late 1970s and constructed in the early 1980s, sits on the Ogun River in Iseyin Local Government Area. Initially designed as a multi-purpose project for power generation, irrigation, and water supply, the dam holds a reservoir of about 690 million cubic metres.
Despite its vast potential, previous attempts to commercialise or revive its hydropower component stalled for decades, leaving installed turbines and electrical equipment to deteriorate.
Adelabu reaffirmed that the new concession signals a revival of long-abandoned national assets and aligns with the Renewed Hope Agenda to drive inclusive, sustainable development through energy reforms.
He also highlighted the government’s ongoing efforts to bridge Nigeria’s metering deficit, ensuring that power sector growth translates into improved efficiency and fairness for consumers.
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