Ikere Gorge Dam
Ikere Gorge Dam
October 2023
Nigeria, Africa
BucSha/Hergunyu Group
Sustainable Energy
On Hold
The Challenge:
Originally initiated by Olusegun Obasanjo in the late 1970s and constructed under Shehu Shagari’s administration in the early 1980s, the Ikere Gorge Dam remains an underutilized asset with immense potential. The dam, spanning 47 square kilometers and receiving 85% of its water supply from the Ogun River, has the capacity to generate 37.55MW of electricity and irrigate 12,000 hectares of land. However, despite the majority of the hydropower infrastructure being in place, it requires modernization and investment to be fully operational. The challenge was securing the necessary funding and strategic alignment to move the project forward.
Our Solution:
Our approach focused on assessing and preparing the project for funding and buildout. We conducted a comprehensive feasibility study to evaluate the necessary upgrades, the potential return on investment (RoI), and the economic impact on the surrounding communities. By positioning the dam as a high-yield investment opportunity, we highlighted its role in bolstering food security, industrial growth, and sustainable energy production. Additionally, we developed a financial and implementation strategy that aligns with both government and private sector interests, making it an attractive initiative for investors.
The Outcome:
While the full buildout has yet to be realized, our efforts laid the foundation and legal framework for securing funding and advancing the modernization of the hydropower infrastructure. The project is now positioned for further investment, with clear pathways to revitalizing power generation and boosting industrial growth, and enhancing agricultural productivity in Oyo State and the southwest region
