Federal Government don sign 30-year agreement with Quaint Energy to develop di 6-megawatt Ikere Gorge Hydropower Project for Oyo State. Di deal na big step for Nigeria plan to move enter clean and better power generation.
Di signing ceremony wey happen for Abuja on Wednesday get di Minister of Power, Chief Adebayo Adelabu, as oga for di event. He talk say di agreement na result of more than ten years negotiation between government and di private company.
Adelabu talk say di Ikere Gorge project and di 2MW Omi-Kampe project for Kogi State go help expand renewable energy, bring more light to rural areas, and grow small industries for di local communities.
“This one no be ordinary power project — e be milestone wey go push Nigeria near sustainable and reliable electricity for everybody,” he talk.
Di Ikere Gorge Dam wey dey Iseyin area for Oyo State start since 1970s under old government plans but e stop for many years. Di new deal go revive di project and make am useful for power, irrigation, and agriculture.
Adelabu talk say government dey work to create better policy and make private investors get confidence to bring money and technology enter di power sector.
He still talk say Federal Government don raise ₦700 billion through di Presidential Metering Initiative to provide more meters for Nigerians. Dis one go join body with World Bank $500 million programme wey go give 3.45 million new meters.
According to am, power sector revenue don increase by 70% this year and government liability don reduce by ₦700 billion because of di new reforms.
For him own talk, Quaint Energy Chairman, Mr. Femi Adeyanju, promise say di company go deliver di Ikere Gorge project on time and according to global standard.
“We no go fail. Dis project go help di host communities and show say Quaint Energy fit handle sustainable power project well,” Adeyanju talk.
