The Federal Government, in partnership with Quaint Energy, has signed a concession agreement to develop two hydropower projects with a combined capacity of 8 megawatts in Oyo and Kogi States.

The agreement, finalized on Wednesday in Abuja, covers the 6MW Ikere Gorge Hydropower Project in Oyo State and the 2MW Omi-Kampe Hydropower Project in Kogi State.

At the signing ceremony, the Minister of Power, Chief Adebayo Adelabu, described the agreement as a significant milestone in the collective efforts of power stakeholders to deliver a sustainable, reliable, and affordable electricity supply across Nigeria, according to the News Agency of Nigeria.

He stated that the agreement is designed to attract private investment and harness the vast renewable energy potential across 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,” Adelabu said.

The Minister emphasized that the Ikere Gorge and Omi-Kampe Dam projects go beyond mere hydropower concessions.

He described them as strategic interventions that reflect the federal government’s commitment to expanding energy access, boosting state electricity markets, and driving local industrial productivity through clean and renewable energy.

“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 noted that the signing also underscores the Ministry of Power’s strong belief in private sector–led growth as the cornerstone for achieving sustainability in Nigeria’s electricity supply industry.

The Chairman of Quaint Energy, Femi Adeyanju, affirmed the company’s commitment to delivering on the project as expected.

He added that the initiative would benefit not only the host communities and states but also Nigerians nationwide.

The 8MW hydropower concession between the Federal Government and Quaint Energy marks a renewed effort to diversify Nigeria’s energy mix and promote decentralized electricity generation beyond the national grid.