FG moves to finalise PPP for 250 MW Ikom power plant

By Missang AKPET 

The federal government has set up steering and development committees—chaired by the ICRC for the latter—to push the Ikom Multipurpose Dam toward a public‑private deal. The step follows a high‑level Aso Rock meeting that labelled the project a strategic national intervention.

At Thursday’s inaugural session, Finance Minister Wale Edun joined reps from Water Resources, Power, NSIA, NNPC, Cross River State and Ikom Power. ICRC head Jobson Ewalefoh said the next moves are to validate feasibility and hydrological studies, sharpen the project scope, pick a PPP model and risk framework, and appoint a transaction adviser.

Edun stressed the dam must be structured as a commercially viable venture to attract long‑term private capital, fitting President Tinubu’s infrastructure agenda. The development committee draws members from Finance, Water Resources, Power, Cross River State, ICRC, NNPC and NSIA.

Planned capacity is about 250 MW of renewable baseload power, plus flood control in the Benue Basin. Officials say it will bolster energy security, water management and growth in Cross River and neighboring regions.