The two power projects (Gurara II Multipurpose Dam and Hydro Power Plant, and Kashimbilla Hydro Power Plant) will be concessioned by the government under an operation and Management Public Private Partnership model.

Other projects within the scope of concession include; Secure E-ticketing Solutions for Lagos Ibadan Rail Service and Warri Itakpe Rail service, as well as Device Management System (DMS), developed by Nigerian Communications Commission.

In a statement released by the ICRC's acting spokesperson, Ifeanyi Nwoko, on Friday in Abuja, it was announced that the projects would be regulated by the Infrastructure Concession Regulatory Commission (ICRC)

Gurara II HPP, a 360-megawatt greenfield project will adopt a BOT (build, operate and transfer) model under an EPC contract for the concession period of 30 years. This is to be carried out by Messrs CGCOC Group Co. Limited

The spokesperson noted that approval for the Kashimbilla 40MW HPP has been granted for the operations and maintenance of the Hydropower Plant by Messrs Mainstream Energy Solutions/KEPL Consortium-Concessionaire/Technical Partner.

Part of the statement read, “Both the Gurara and the Kashimbilla HPP projects will bring about Improved living conditions and employment, Promotion of agriculture through irrigation, reduction of Greenhouse Gases as well as foreign exchange preservation”.

“One of the primary objectives of the dam is to mitigate the environmental disaster associated with overflow of flood water in various downstream states of Taraba, Benue, Kogi, Delta, Cross River and Bayelsa, potentially affecting more than 6 million people.

“The hydropower component of the Dam will also aid in ecological flood control, water supply for a population of about 400,000 people, irrigation potentials for about 3,000 hectares of arable land for farming as well as fishing to support food security.

“The dam, hydropower plant, and other complementary infrastructure will be executed within a concession period of 30 years and an expected total revenue generation of $875million USD within the period, while project cost for Kashimbilla HPP, is put at N7.68 billion approved for a concession period of 15 years. It will yield a total revenue of N85 billion.