$311m Abacha loot: Presidency makes U-turn, says Mambilla power not among projects to be funded/ Shehu

The Presidency has backtracked its recent claim that the Mambilla Power Project was among Federal Government projects to be funded by the repatriated $311m looted by erstwhile dictator, Sani Abacha.

The Presidency had earlier listed the Mambilla power project among others to benefit from the recovered loot.

But in a statement issued by Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the presidency said the money would be spent on the Lagos-Ibadan Expressway, the 2nd Niger Bridge and the Abuja-Kaduna-Kano Road only.

His words: “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 $311m 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 note of this correction and make the necessary adjustments to their previous publications on the issue.”