The Federal Government has officially handed over the 6MW Ikere Gorge Hydropower Plant, located in Iseyin, to Messrs Quaint Power and Infrastructure Nigeria under a Public-Private Partnership (PPP) concession arrangement in Oyo State.
The Minister of Water Resources and Sanitation Prof. Joseph Utsev and Minister of Power Adebayo Adelabu performed the handover ceremony.
The Minister of Water Resources and Sanitation, described the concession as a significant milestone in the Federal Government’s drive to bridge infrastructure financing gaps and enhance sustainable power generation through private sector participation.
Prof Utsev commended the vision behind the establishment of the Infrastructure Concession Regulatory Commission (ICRC), noting its critical role in ensuring transparency, value for money, and efficiency in PPP-driven infrastructure development, emphasized the importance of leveraging private sector expertise and capital to complement public investments.
He noted that the Ikere Gorge Hydropower Plant is the product of a long-standing collaboration between the Federal Ministry of Water Resources and Sanitation and the Federal Ministry of Power, dating back to 2012, aimed at harnessing Nigeria’s hydropower potential
The Minister of Power Adebayo Adelabu reaffirmed the Federal Government’s commitment to private sector-driven growth in the power sector, describing the handover as a new chapter in sustainable energy development.
He noted that the Ikere Gorge Dam, initially developed for water supply and irrigation, is now being repositioned as a strategic asset for clean and renewable energy generation.