The Federal Government will, for the next 30 years, earn a total of $2.1 trillion for the concession of the 700 MW Zungeru hydropower plant, according to an estimation by Channels Television.
Senior Special Assistant to the President on Media & Communications (Office of the Vice President), Stanley Nkwocha, in a statement obtained by our correspondent on Tuesday, said the concessionaire would pay FG $70 million per year over the next three decades for managing the complex.
This brings the estimated revenue to $2.1 trillion for the next 30 years.
The transfer of ownership of the Zungeru Hydroelectric Power Plant to Penstock Limited took place on January 23, 2024, following the settlement of the project’s commencement fee on January 5, 2024.
