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The Nigerian federal government is establishing a public-private partnership (PPP) for the Ikom Multipurpose Dam and Hydropower Project. The Infrastructure Concession Regulatory Commission (ICRC) convened the inaugural meeting of the Presidential Project Development Committee, which will lead the project's structured development.

The project aims to generate 250 MW of renewable energy, enhance flood resilience, and support economic growth in Cross River State. Immediate priorities include reviewing feasibility studies, determining the PPP structure, and appointing a transaction adviser. The governance framework ensures transparency and adherence to national PPP guidelines.