The senate committee on power and the federal ministry of power have agreed on the concession of the 700 megawatts Zungeru hydroelectric power project.
MESL had offered a fee of $70 million per year, for a period of 30 years, to secure the deal.
“All the best practices and regulations have been complied with to ensure that Nigeria is not shortchanged in the concession agreement,” he said. In addition, lawmakers who spoke during the hearing, supported the federal government’s various interventions in the power sector.Adamu Aliero, senator representing Kebbi central and member of the committee, said the concession was in the best interest of Nigerians.
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