Agreement
By Constance Athekame
The Federal Government and Quaint Energy have signed a concession agreement for the development of 6 Megawatts (MW) Ikere Gorge Hydropower Project in Oyo State.
The agreement also included the 2MW Omi-Kampe Hydropower Project in Kogi.
Speaking at the signing in Abuja, the Minister of Power, Mr Adebayo Adelabu, stated that the event marked an important milestone in the power stakeholders’ collective journey toward achieving a sustainable, reliable, and affordable power supply across Nigeria.
He added that the partnership underscored the federal government’s unwavering commitment, under the Renewed Hope Agenda of President Bola Tinubu, to deepening power sector reforms..
”Attract private investment, and unlock the vast renewable energy potential within our states and communities.
”The power sector remains a cornerstone of our national economic transformation plan, and our vision is clear: to deliver stable, affordable, and sustainable electricity that drives industrialisation, creates jobs, and promotes inclusive growth across all regions of Nigeria, ”he said.
Adelabu said that the Ikere Gorge Dam project and Omi-Kampe Dam Projects were more than hydropower concessions.
According to him, it is a strategic intervention that underscores the federal government’s resolve to advance energy access, stimulate state electricity markets, and enhance local industrial productivity through clean and renewable energy sources.
” Once fully developed, the hydropower plants have huge potential to scale further reliable electricity to surrounding communities, support agricultural processing zones, small industries, and social infrastructure.
”And catalyse rural economic transformation within Oyo and Kogi States, respectively,”he said.
Adelabu said that the signing also reaffirms the ministry of power strong belief in private sector-led growth as the foundation for achieving sustainability in the Nigerian Electricity Supply Industries.
”We believe the government’s role is increasingly that of an enabler by creating the right regulatory environment, ensuring policy consistency, and de-risking investments through credible partnerships and transparent processes.
” Through public–private partnerships like this concession, we are unlocking capital, technology, and innovation from the private sector to deliver projects that directly impact citizens and strengthen energy security.
”Let me use this opportunity to commend Quaint Energy for demonstrating confidence in Nigeria’s power sector and for committing to deliver this project in line with global standards of efficiency, safety, and environmental sustainability.
”I also acknowledge the Infrastructure Concession Regulatory Commission, and other institutional partners for their support in ensuring that this process aligns with the national framework for Public–Private Partnerships.
”Today’s concession adds to the critical milestones recorded in the Nigeria Power sector under the current administration,”he said.
Responding, Mr Femi Adeyanju, Chairman Quaint, Energy said that the company would deliver as expected.
Adeyanju also said that the project would not only benefit the community, and the states where it was located, but Nigerians at large.
The News Agency of Nigeria (NAN) reports that the concession agreement is expected to last for 30 years.(NAN)(www.nannews.ng)
COA/KOO
