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Three Of Five FG Priority Projects To Draw From Abacha Loot

ABUJA: 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.

According to a press release e-signed and made available to StarTrend Int’l magazine & www.startrendinternational.com Garba Shehu, Senior Special Assistant to the President (Media & Publicity), Garba Shehu said, “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.”

He stated further that all print and online media are now advised to note this correction with a view to make the necessary adjustments to their previous publications on the issue.

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