STATE HOUSE PRESS RELEASE
THREE OF FIVE FG PRIORITY PROJECTS TO DRAW FROM ABACHA LOOT
The recently repatriated Sani Abacha loot will go towards three of the Government of Nigeria’s five priority projects, excluding the Mambilla power and East-West road projects.
In an earlier statement, I had mistakenly noted that the Mambilla Project was one of five priority projects to benefit from the $311 million Abacha loot under the Presidential Infrastructure Development Fund (PIDF) managed by Nigeria Sovereign Investment Authority (NSIA) in charge of the Sovereign Wealth Fund (SWF). That error is regretted. Garba Shehu said.
Garba Shehu, SSA on Media & Publicity to president Buhari said ''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. Thank you.
STATE HOUSE PRESS RELEASE
— Presidency Nigeria (@NGRPresident) May 13, 2020
THREE OF FIVE FG PRIORITY PROJECTS TO DRAW FROM ABACHA LOOT
The recently repatriated Sani Abacha loot will go towards three of @NigeriaGov’s five priority projects, excluding the Mambilla power and East-West road projects.
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