The Senate Committee on power and the federal ministry of power have agreed on the concession of the 700 Megawatts Zungeru Hydroelectric Power project.
Addressing the senate committee on power chaired by Gabriel Suswam in Abuja, Abubakar Aliyu, minister of power, pointed out that the Zungeru Hydroelectric dam was financed jointly by China Exim Bank and the Nigerian government.
“All the best practices and regulations have been complied with to ensure that Nigeria is not shortchanged in the concession agreement,” Aliyu said.
According to him, the hydroelectric infrastructure is still owned by the federal government and the concession is only for a period of 30 years.
He also said government had been diligently addressing all the challenges facing the Zungeru power project to make it secure and functional for more electricity supply to meet the energy demands of Nigerians.
Both parties agreed that it is in the best interest of the country. The committee also advised that public enlightenment on the happenings in the power sector should also be carried out.
Lawmakers who spoke during the hearing supported federal governments various interventions in the power sector.
On his part Adamu Aliero, senator representing Kebbi central and member of the committee, said the concession is in the best interest of Nigerians.