KEY POINTS
- The Federal Government has commenced development of the Ikom Multipurpose Dam and 250MW Hydropower Project under a PPP framework.
- The project aims to generate renewable electricity, control flooding, and support economic growth in Cross River State and surrounding areas.
- A Presidential Project Development Committee comprising key federal agencies and stakeholders has been established to guide the project toward bankability and private sector investment.
The Infrastructure Concession Regulatory Commission (ICRC) has announced the formal commencement of the Ikom Multipurpose Dam and 250-megawatt Hydropower Project, following approval by the Federal Government to develop the project through a Public-Private Partnership (PPP) framework.
The announcement was made in a statement issued on Thursday by the Acting Head of Media and Publicity of the commission, Ifeanyi Nwoko.
According to the commission, the project officially moved into its development phase after the inauguration of the Presidential Project Development Committee (PDC), which will guide the preparation and structuring of the project.
The committee was established after a stakeholder meeting held at the Presidential Villa under the supervision of the Office of the Vice President of Nigeria, where the ICRC was appointed to chair the project’s development committee.
Inaugural committee meeting marks formal project take-off
The ICRC explained that the inaugural meeting of the Project Development Committee marked the official beginning of the structured development of the project under the PPP framework.
The Ikom Multipurpose Dam is planned as a major infrastructure intervention within the River Benue Basin, aimed at addressing persistent flooding challenges while generating approximately 250 megawatts of renewable baseload electricity.
According to the statement, the project is expected to deliver multiple benefits, including improved flood control, strengthened energy security, better management of water resources, and economic growth in Cross River State and surrounding regions.
Speaking during the meeting, the Director-General and Chief Executive Officer of the ICRC, Jobson Oseodion Ewalefoh, described the project as a strategic multipurpose infrastructure initiative designed to support both environmental protection and economic development.
He explained that the dam would play a critical role in controlling flooding, generating renewable power, ensuring efficient water resource management, and promoting regional development.
