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Published On: Fri, May 15th, 2020

Mambilla Power Project won’t benefit from Abacha loot -Presidency

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By Egena Sunday Ode

The listing of Mambilla Power Project as one of the priority projects of the federal government to benefit from the $311 million returned Abacha loot was an error, the Presidency said Wednesday.
In a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the Presidency explained that Mambilla Power project and the East-West road were not included in the agreement with the US among the projects for which the money would be spent.
The statement read: “The recently repatriated Sani Abacha loot will go towards three of the Federal Government’s five priority projects, excluding the Mambilla power and East-West road projects.
“In an earlier statement, I had mistakenly noted that the Mambilla was one of five priority projects to benefit from the $311 million Abacha loot under the Presidential Infrastructure Development Fund (PIDF) managed by the Nigeria Sovereign Investment Authority (NSIA). That error is regretted.
“Although the Mambilla and East-West expressway are regarded under the PIDF as priority projects, I have ascertained that they are exempt from the agreement signed between the Nigerian, United States and British territory of Jersey governments.
“According to the document, only the second Niger bridge, Abuja-Kaduna-Kano expressway, and Lagos-Ibadan expressway will benefit from the repatriated funds. The funds are domiciled in the NSIA.
“All print and online media should please take note of this correction and make the necessary adjustments to their previous publications on the issue.”

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