The Federal Government and Quaint Energy have signed a 30-year concession agreement for the development of the 6MW Ikire Gorge Hydropower Project in Oyo State, marking a major milestone in Nigeria’s renewable energy drive.

The ceremony, held in Abuja, was attended by Minister of Power, Chief Adebayo Adelabu, who highlighted that negotiations for the project took over a decade. He described the event as a critical step toward achieving sustainable, reliable, and affordable electricity nationwide.

“It gives me great pleasure to witness the signing of the concession agreement between the Federal Ministry of Power and Quaint Energy for the development of the 6MW Ikire Gorge Hydropower Project in Oyo State and the 2MW Omi-Kampe Hydropower Project in Kogi State,” Adelabu said.

The minister emphasized that these hydropower projects go beyond electricity generation; they are strategic interventions aimed at stimulating local electricity markets, boosting industrial productivity, and fostering rural economic transformation in their host communities.

Once fully operational, the plants are expected to provide reliable electricity to surrounding communities, support agricultural processing zones, small industries, and social infrastructure, while catalyzing economic growth in Oyo and Kogi States.

Adelabu also reiterated the Federal Government’s commitment to private sector-led growth in the Nigerian Electricity Supply Industry, describing the government’s role as an enabler through policy consistency, regulatory support, and investment de-risking.

Responding, Quaint Energy Chairman, Mr. Femi Adeyanju, pledged to deliver the project on schedule, asserting the company’s competence and commitment to the socio-economic benefits of the concession.

The signing underscores the increasing role of public–private partnerships in Nigeria’s energy sector, leveraging private sector capital, technology, and innovation to enhance energy access and security.