Mambilla project won’t benefit from Abacha loot ― Presidency

The Presidency on Wednesday said it acted in error by adding the Mambilla project among those to benefit from the $311 million loot by late former Head of State, General Sani Abacha, which was recently returned to the country.

Presidential spokesman, Garba Shehu, who had earlier announced that the project along with second Niger Bridge, Abuja-Kaduna-Kano expressway, and Lagos-Ibadan expressway would be the beneficiaries, said in a statement in Abuja that its addition to the list was wrong.

He said he regretted the erroneous addition of the project for the list as it was not part of the projects to the financed under the Presidential Infrastructure Development Fund (PIDF) managed by the Nigeria Sovereign Investment Authority (NSIA).

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 the 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. Thank you.”

 

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