Connect with us


Abacha loot to fund Lagos-Ibadan road, 2nd Niger Bridge, others – Presidency



THE latest funds repatriated from Abacha loot will be deployed to construction works on Lagos to Ibadan Expressway in the South-West, Abuja to Kano Road in the north and second Niger Bridge in the South- East.

  It also said part of the funds will be invested in the Mambilla Power Project.

Senior Special Assistant to the President on Media and Publicity, Garba Shehu, disclosed this in a statement released yesterday.

  “On Monday, May 4, 2020, some $311 million – stolen from the citizens of Nigeria during the Abacha regime – were safely returned to our country from the United States. These funds have already been allocated, and will be used in full, for vital and decades-overdue infrastructure development:

The second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways – creating tens of thousands of Nigerian construction jobs and local skills, which can then be useful in future projects. Part of the funds will also be invested in the Mambilla Power Project which, when completed, will provide electricity to some three million homes for over ten million citizens – in our country.

The receipt of these stolen monies – and the hundreds of millions more that have already been returned from the United Kingdom and Switzerland – an opportunity for the development of our nation, made far harder for those decades the country was robbed of these funds.

Indeed, previous monies returned last year from Switzerland – some $320 million US dollars – are already being used for the government’s free school feeding scheme, a stipend for millions of disadvantaged citizens, and grain grants for those in severe food hardship.

Without these funds, the fight against COVID-19 would have been even tougher,” the release said.

  It will be recalled that the $311 million were returned under Nigeria and the Island of Jersey’s agreement with United States government for the repatriation of $321 million looted by former Head of State, Gen. Sani Abacha.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *