- HOW TEMANE-MAPUTO ELECTRICITY TRANSMISSION LINE PROJECT IS GOING THROUGH TEST IN MOZAMBIQUE
- NAMIBIA INAUGURATED FIRST PLASTIC RECYCLING PLANTS
- PROGRESS MADE ON PIIM PROJECTS AS OVER 85% COMPLETED IN ANGOLA
- WORLD BANK KICK-OFF INSPECTION OF USMID PROGRAM IN UGANDA
- ALGERIA MINISTER RECIEVED HARBOR ENERGY CEO OVER ENERGY PARTNERSHIP
NIGERIA GOVT. WILL NOT USE ABACHA LOOT FOR SOME PROJECTS
Nigeria government has announced that it will not use money recovered from Abacha’s loot to help fund construction projects.
According to the report, the government said projects like Mambila power project and East-west Road projects would not benefit from the fund.
Speaking to the media, Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, said it will be used to finance second Niger Bridge, Abuja-Kaduna-Kano expressway, and Lagos-Ibadan expressway according to agreement reached among Nigerian, United States and British territory of Jersey governments.
The loot is under the Presidential Infrastructure Development Fund (PIDF) that will be managed by the Nigeria Sovereign Investment Authority (NSIA).