News Investigators/ The Infrastructure Concession Regulatory Commission (ICRC) has intensified oversight of the 700-megawatt Zungeru Hydropower Project to optimise its performance.
Ifeanyi Nwoko, Acting Head of Media and Publicity, ICRC, said this in a statement on Thursday in Abuja
Mr Nwoko said that the 1.3 billion dollar project was currently generating about 350 megawatts to the National Grid, and was being operated under a Public-Private Partnership (PPP) arrangement.
He said that the move was in line with President Bola Tinubu’s charge to stakeholders to unlock the potential of Nigeria’s power sector.
According to him, the President has reaffirmed the commitment in his 2026 Democracy Day speech, declaring that “Electricity is a democratic dividend we owe every Nigerian”.
“The ICRC convened a stakeholders’ meeting in Abuja with the Federal Ministry of Power, Federal Ministry of Water Resources and Sanitation, Bureau of Public Enterprises (BPE) and Penstock Limited, the concessionaire.
“The meeting was convened under the ICRC Act 2005. The BPE acts as grantor under a power of attorney from the Ministry of Power,” he said.
Meanwhile, Jobson Ewalefoh, Director-General, ICRC, said PPP assets such as Zungeru could not be allowed to operate below capacity at a time the administration was working to resolve the country’s power challenges.
Mr Ewalefoh said this while addressing the stakeholders, adding that the meeting was convened to identify and address issues hindering the optimal performance of the plant.
“President Bola Tinubu’s promise to Nigerians that he will solve the power problem is not words for the sake of it.
“It is a statement he meant, and he has charged all of us to support him by playing our roles to deliver on this promise,” he said.
The director-general said that the ICRC was established as the regulator of PPPs and was therefore not a party to any PPP agreement.
He said the commission’s responsibility was to ensure compliance by both the grantor and concessionaire with the terms and obligations contained in the agreement.
According to him, Section 20 of the ICRC Act mandates the commission to take custody of concession agreements made under the Act and monitor compliance with their terms and conditions.
He said the law also empowered the commission to ensure efficient execution of concession agreements or contracts entered into by the government and compliance with the provisions of the Act.
“Signing a concession agreement is only the first step; implementation of the terms in the PPP agreement is what delivers results.
“In PPP, risks are shared and no party is doing the other a favour.
“Our duty is to ensure sustainability, return on investment is achieved, services are delivered, and value for money is secured in the interest of the Nigerian people,” Ewalefoh said.
He said that the ICRC Act 2005 defined the commission’s reporting line to the President.
Ewalefoh said that similar compliance reviews would be carried out on other PPP-operated power plants, including Kainji, Jebba, Shiroro, Dadinkowa and Kashimbila, and a final report would be submitted to the president.
The director-general pledged the commission’s commitment to working with all stakeholders, particularly the Federal Ministry of Power, to ensure that every PPP power project contributed optimally to meeting the energy needs of Nigerians.
He said the ICRC was equally committed to reviewing other existing PPP arrangements to ensure optimal performance.
“Efficiency is a key reason government assets are handed over to the private sector, and the commission must ensure that such efficiency is achieved through regulatory monitoring and compliance.”
NAN
