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    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

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    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    Edun Delivers: FG Revenue Hits N6.9 Trillion in Four Months, Surges 40% Over 2024

    President Tinubu Launches 2,000 Tractors For Mechanised Farming

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    Matawalle, Reaffirms Defence Ministry’s Commitment to Security as FG Vows Justice for Benue Massacre

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    Wale Edun Welcomes Shell’s Renewed Commitment To Nigeria’s Energy Sector

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    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

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Three of Five FG Priority Projects to Draw From Abacha Loot – Presidency

Tunde Abiola by Tunde Abiola
May 13, 2020
in local, News
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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.

Garba Shehu

Senior Special Assistant to the President (Media & Publicity)

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