FG Names Ikom Dam Strategic Project To Stop Floods, Boost Power
By Patience Ikpeme
The Federal Government has officially named the Ikom Multipurpose Dam as a major national project that will help change the lives of people in Cross River State and beyond.
This move is part of a bigger plan to stop the constant flooding that destroys farms and houses, while also producing more electricity for the country.
At the inaugural meeting of the team set up by the President to handle the project, the government formed two special committees to make sure the work starts correctly.
The Infrastructure Concession Regulatory Commission (ICRC) has been put in charge of the group that will develop the project and bring in private investors.
The Minister of Finance and Coordinating Minister of the Economy explained that the Ikom project is not just a regular government job. He said it must be built in a way that it can pay for itself and stay strong for a long time. According to the Minister, the goal is to create something that is useful to the people and attractive to big businesses that want to invest their money.
Speaking on the progress of the nation, the Minister noted that Nigeria, under the leadership of President Bola Ahmed Tinubu, is now a leading example for other African countries. He said that the big problems that used to shake the country’s money matters have been dealt with, and the government is now focused on discipline and creating long-term value for everyone.
The head of the ICRC, Dr. Jobson Oseodion Ewalefoh, made it clear during the meeting that this project is about much more than just electricity. He said the dam is a “strategic national asset” designed to control floods, provide clean energy, and make sure there is enough water for people and farms to use. He noted that the project will bring a lot of business and growth to the region.
Dr. Ewalefoh also pointed out that his team has a big job to do. They need to check all the technical details and make sure the project is solid enough for banks and private companies to support it. He said their main duty is to protect the interest of the public while making sure they find the right partners from the private sector to get the work done.
The team has already listed the first things they will do, which include looking at old reports about the river, deciding exactly how big the project will be, and picking expert advisers to guide them. They are also working on a clear map that shows every step they will take until the dam is finished.
The Ikom Multipurpose Dam is expected to produce about 250 megawatts of electricity, which will help make power more stable. Because it is a project directly from the Presidency, the government promised that everything will be done openly and honestly, following all the rules for partnership between the government and private companies.
Those working on the project come from different offices, including the Ministries of Finance, Water Resources, and Power. Other members are from the Cross River State Government, the NNPC, the Nigeria Sovereign Investment Authority (NSIA), and Ikom Power Limited.
