Adelabu: Ikere Gorge Dam Concession to Create 25,000 Jobs

Kemi Olaitan in Ibadan

The federal government, through the Ministry of Power, in collaboration with the Ministry of Water Resources and Sanitation, has formally handed over the 6-Megawatt Ikere Gorge hydropower plant in Iseyin, Oyo State, to a concessionaire, Quaint Power and Infrastructure Nigeria Limited.

The Minister of Power, Chief Adebayo Adelabu, while performing the handover at the weekend in Ikere community under the Public-Private Partnership (PPP) model, said the concession of the plant would generate over 25,000 direct and indirect jobs as well as boost the power supply in Oyo and neighbouring states.

This was just as the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr. Jobson Oseodion Ewalefoh, described the handover as a defining moment in Nigeria’s infra-structure journey, noting that it reflects a deliberate effort to convert long-dormant public assets into productive drivers of the national development through public-private partnerships.

The Ikere George Dam, initiated in the 1980s, is a major earth-fill dam located on the Ogun River near Iseyin in Oyo State, and was designed for hydropower generation, water supply, and irrigation.

The 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.

Adelabu said the project would stimulate electricity market development and enhance economic growth in the host community, stating that the development aligns with the policies of the President Bola Tinubu-led administration to revitalise the energy sector and create employment opportunities for Nigerians.

He said: “The Ikere George Dam project is more than a hydropower concession; it is a strategic intervention that underscores the federal government’s unwavering commitment under the Renewed Hope Agenda of President Tinubu to advance energy access, stimulate electricity market development, deepen power sector reforms, attract private investment, and unlock the country’s vast renewable energy potential.

“The project will also generate over 10,000 direct and indirect jobs, while boosting power supply by six megawatts in the state and neighbouring states.”

The minister added that the handover, which is a public-private partnership, had added to the growing list of achievements of the administration’s economic reform policies.

Adelabu listed the achievements to include the decentralisation and liberalisation of the power sector, which resulted in the activation of 15 state electricity markets following the signing of the Electricity Act 2023 into law.

He also cited the development of a National Integrated Electricity Policy after 24 years, as well as the attraction of over $2billion in fresh investments to expand electricity access nationwide.

According to him, the commencement of the transition process towards full commercialisation increased sector revenue by 70 per cent in 2024 and reduced government liability by N70billion.

He added that the present administration had mobilised N700billion funding from the Federation Account Allocation Committee to implement the Presidential Metering Initiative aimed at addressing the sector’s long-standing metering gap.

Ewalefoh said the revival of the project demonstrates the federal government’s resolve to move beyond abandoned infrastructure and deliver tangible outcomes for citizens, particularly in the power and water sectors.

He noted that the project aligns with the broader reform agenda of President Tinubu, “which prioritises infrastructure delivery, private sector participation, and sustainable solutions capable of unlocking economic growth at the sub-national level.”

According to him, “The handover of Ikere Gorge today 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,” adding that the project stands as a practical example of how infrastructure reforms under the current administration are being translated into real, bankable outcomes.

Meanwhile, the Managing Director of Quaint Power and Infrastructure Nigeria Limited, Mr. Mobolaji Durodola, in his remarks, said the concession would stimulate development in the host community, create employment opportunities, and contribute significantly to national economic growth.