The Nigerian Government, through the Ministry of Power, in collaboration with the Ministry of Water Resources and Sanitation, has formally handed over the 6-Megawatt Ikere George Hydropower Plant in Oyo State to a concessionaire, Quaint Power and Infrastructure Nigeria Limited.
The government said the concession of the Hydropower Plant, under the Public-Private Partnership (PPP) model, will generate over 25,000 direct and indirect jobs, as well as boost the power supply in Oyo and neighbouring states.
At the official handover ceremony which took place on Friday, at Ikere Community in the Iseyin Local Government Area of Oyo State, the Minister of Power, Adebayo Adelabu, congratulated the people of Southwest Nigeria, particularly the Oke-Ogun communities, on what he described as a major breakthrough in power generation.
He said the development is in line with the policies of the President Bola Tinubu-led administration to revitalise the energy sector as well create employment opportunities for the teeming youths in the country, noting that the project is a pointer to the resolve and commitment of the Federal Government to advance the energy sector of the economy.
Adelabu stated: “The Ikere George Dam project is more than hydropower concession: it is ap strategic intervention that underscores the Federal Government’s unwavering resolve and commitment under the Renewed Hope Agenda of President Bola Tinubu to advance energy access, stimulate electricity market development, deepen power sector reforms, attract private investment and unlock the vast renewable energy potential in the country.”
He commended Quaint Power and Infrastructure Nigeria Limited for its courage and confidence in Nigeria’s power sector, saying the Ikere Hydropower Plant is a strategic intervention that highlighted the Federal Government’s commitment to revitalising energy assets and stimulating electricity market development.
The Minister noted that the handover has added to the growing list of achievements of the government’s economic reform policies, including the decentralisation and liberalisation of the power sector which has resulted in the activation of fifteen state Electricity Act 2023 that has been signed into law.
Integrated Electricity Policy
He further mentioned the development of a National Integrated Electricity Policy after 24 years, and attraction of over $2 billion in fresh investments into the sector to further extend electricity access in the country.
“The commencement of the process to transition the Industry towards full commercialisation which increased the sector’s revenue by 70% in the year 2024 and reduced government liability in the sector by N70billion.
“Also the present administration has successfully mobilized N700billion funding from FAAC to implement the Presidential Metering Initiative, aimed at tackling the sector’s long standing metering gap,” Adelabu added.
For his part, the Minister of Water Resources and Sanitation, Professor Joseph Terlumun Utsev, who was also at the event, said construction of dams across the country, aimed at boosting economic development, remains a key mandate of his ministry.
He emphasised the importance of public-private partnerships in complementing government efforts in infrastructure delivery, affirming that the success recorded at the Ikere Hydropower Plant is a product of collaboration between the two ministries to strengthen Nigeria’s hydropower infrastructure, and urged the concessionaire to ensure efficient utilisation of the Ikere facility.
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Prof. Utsev listed other power projects executed under the administration of President Bola Tinubu to include a 4-Megawatt Hydropower Plant in Kogi State, and a 40-megawatt (MW) Kashimbila Multipurpose Dam in Taraba State, among others.
The Ikere Gorge project was executed under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC), the federal agency statutorily responsible for regulating all public-private partnerships, and empowered to monitor compliance with the concession agreements throughout the life of the project.
Critical Infrastructure
The Director-General and Chief Executive Officer of the ICRC, Dr Jobson Ewalefoh, described the handover as a milestone that reflects tangible progress in unlocking critical infrastructure through well-structured private sector participation.
He said the Ikere Hydropower Project demonstrates the FG’s resolve to leverage private capital to enhance service delivery, improve energy security, and stimulate socio-economic development.
Dr Ewalefoh stated: “The handover of Ikere Gorge sends a clear signal that Nigeria is serious about translating policy into performance. Through effective collaboration and private sector participation, projects that have remained idle for decades can be revived to deliver power, livelihoods, and long-term value for our people.
“This project stands as a practical example of how infrastructure reforms under the current administration are being translated into real, bankable outcomes.”
In his remarks, the Managing Director and Chief Executive Officer of the Ogun-Osun River Basin Development Authority (OORBDA), Dr Adedeji Ashiru, said the occasion marks the beginning of a new era in sustainable energy generation from the Ikere Hydropower Plant, which had been abandoned for decades.
He pledged OORBDA’s full support to Quaint Power in ensuring the successful implementation of the project and the realisation of its long-term vision.
Stimulate Development
Responding, the Managing Director of Quaint Power and Infrastructure Nigeria Limited, Mobolaji Durodola, said the concession of the Ikere Hydropower Plant will stimulate development within the host community, create employment opportunities for thousands of Nigerians, and contribute significantly to national economic growth.
Durodola noted that his company will collaborate with international partners to fully actualise the vision of past leaders who initiated the Ikere hydropower project.
The Aseyin of Iseyinland, Oba Sefiu Oyebola, expressed excitement over the development, describing it as a beacon of hope for the people of Oke-Ogun, Oyo State, and the entire Southwest region.
The monarch, who said the project will also improve access to clean water and commended all stakeholders, urged sustained collaboration to ensure the successful implementation of the Ikere project.
The Ikere Gorge Dam was conceived under Nigeria’s first elected president, Shehu Shagari, in the 1980s, as a multi-purpose project to aid power generation, water supply, irrigation and fishing.
In a related development, the Minister of Power also commissioned a 33-kilovolt distribution line at Okeho, Ibadan, Oyo State, as part of efforts to strengthen electricity supply across the state, disclosing that the government will soon take delivery of additional two million prepaid meters to bridge the metering gap nationwide.
Adelabu stated that the delivery will be in addition to the one million meters already on the ground, making it a total of three million meters, valued at N700billion, and warned residents against payment for such, saying any official that demands for payment should be reported to the appropriate authorities.