FG Concessions Ikere Gorge Dam to Quaint Power for Sustainable Hydropower Generation

In a significant boost to Nigeria’s renewable energy sector, the Federal Government has officially handed over the 6MW Ikere Gorge Hydropower Plant in Iseyin Local Government Area of Oyo State to Messrs Quaint Power and Infrastructure Nigeria Limited under a Public-Private Partnership (PPP) arrangement. The handover ceremony, which took place in the Ikere community last Friday, marks a pivotal step towards bridging infrastructure gaps and enhancing sustainable power generation through private sector involvement.

The event was jointly performed by the Minister of Water Resources and Sanitation, Prof. Joseph Terlumun Utsev, and the Minister of Power, Chief Adebayo Adelabu, in the presence of key stakeholders including the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Jobson Oseodion Ewalefoh. Prof. Utsev described the concession as a major milestone in the government’s efforts to address financing shortfalls in infrastructure development. He commended the establishment of the ICRC for its role in promoting transparency, value for money, and efficiency in PPP projects.

“The Ikere Gorge Hydropower Plant is the fruit of a longstanding collaboration between the Federal Ministry of Water Resources and Sanitation and the Federal Ministry of Power, which began in 2012, aimed at unlocking Nigeria’s vast hydropower potential,” Prof. Utsev stated. He emphasized the need to leverage private sector expertise and capital to complement public investments, ensuring long-term sustainability in energy production.

Echoing similar sentiments, Chief Adelabu reaffirmed the Federal Government’s commitment to fostering private sector-driven growth in the power sector. He hailed the handover as a “new chapter in sustainable energy development,” noting that the Ikere Gorge Dam, originally constructed for water supply and irrigation purposes, is now being repositioned as a strategic asset for clean and renewable energy generation. “This concession aligns with our administration’s economic reform policies and will add to the growing list of achievements in revitalizing Nigeria’s energy assets,” the Power Minister added.

According to Adelabu, the project is expected to generate over 25,000 direct and indirect jobs, boosting power supply not only in Oyo State but also in neighboring regions. This development is particularly timely for Oyo State residents, including those in Ibadan and the Oke-Ogun area, who have long grappled with erratic electricity supply. The initiative is poised to stimulate local economic growth, create employment opportunities, and contribute significantly to the national grid.

In his remarks at the ceremony, the Managing Director of Quaint Power and Infrastructure Nigeria Limited, Mobolaji Durodola, expressed optimism about the project’s impact. “This concession will drive development in the host community, foster job creation, and play a key role in Nigeria’s overall economic advancement,” Durodola said.

The Ikere Gorge Dam, a multi-purpose facility, represents Nigeria’s push towards diversifying its energy mix amid global calls for cleaner power sources. With this handover, the Federal Government continues to demonstrate its resolve to harness untapped hydropower resources, potentially setting a precedent for similar concessions across the country.