The Federal Government on Wednesday 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 drive toward cleaner and more sustainable electricity generation.The ceremony, held in Abuja, was presided over by the Minister of Power, Chief Adebayo Adelabu, who described the signing as the culmination of more than a decade of negotiations between the government and the private developer.Adelabu noted that the Ikere Gorge project, 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 stimulate state-level electricity markets.“It gives me great pleasure to be here today to witness the signing of the concession agreement between the Federal Ministry of Power and Quaint Energy for the development of the 6MW Ikere Gorge Hydropower Project in Oyo State and the 2MW Omi-Kampe Hydropower Project in Kogi State. This event marks another important milestone in our collective journey toward achieving a sustainable, reliable, and affordable power supply across Nigeria,” the minister said.
Built during the early civilian and military governments of the era, the original master plan envisaged a far larger hydropower output, but after partial construction and equipment procurement in the 1980s, the power component stalled. Several attempts since then to commercialise or revive the hydropower option floundered, leaving turbines and electrical equipment exposed to decades of neglect and corrosion.The minister further noted the government’s initiative to bridge the country’s long-standing metering deficit
rgy landscape is rapidly evolving, and investment opportunities abound across the power sector value chain,” the minister said. “Our policy environment is clear, and our national leadership is committed to long-term investment and innovation.”According to him, the National Integrated Electricity Policy has already attracted over $2bn in new investments, aimed at expanding electricity access and deepening private sector participation.He also highlighted major achievements in Nigeria’s electricity grid operations, including the first-ever synchronisation of the Nigerian grid with the West African Power Pool, linking all 14 member countries for over four hours, a feat he described as “a historic milestone for regional energy integration.”With these developments, the minister reaffirmed that Nigeria’s path to energy security and sustainability lies in leveraging public-private partnerships, renewable energy projects, and transparent regulatory governance to deliver reliable power to citizens.
Responding, the Chairman of Quaint Energy, Mr. Femi Adeyanju, pledged that the company would deliver the project on schedule and in line with global standards.“We will not disappoint. This project will not only benefit the host communities but also prove Quaint Energy’s capability to execute sustainable power projects,” Adeyanju assured.
