According to the recently released statement by the Presidency via it social media handle, it has open up on what the recently repatriated Sani Abacha loot will be used for.
The statement disclosed that the Sani Abacha loot will go towards three of Nigerian Government’s five priority projects, excluding the Mambilla power and East-West road projects.
In an earlier statement, Spokeperson to Pres. Buhari, Garba Shehu 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 the Nigeria Sovereign Investment Authority NSIA. Garba Shehu stressed that the error is regretted.
He 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.
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 @NigeriaGov’s five priority projects, excluding the Mambilla power and East-West road projects.
— Presidency Nigeria (@NGRPresident) May 13, 2020
