Tag: Mambila Power Project

Senate Investigates Mambilla Hydro-electric Power Project

Aminu Imam
Senate chambers

…Passes North-Central Development Commission bill Mambilla hydro power projectThe Senate has launched an investigation into transactions in the Mambilla Hydroelectric Power Project from 1999 till date. The resolution was adopted yesterday, after a Motion moved Senator Manu Haruna, representing Taraba-Central in the Senate, on the urgent need to address the challenges of commencing the project. Lawmakers highlighted the failure of previous governments to prioritise the national project with its capacity to generate 3050 megawatts, and reposition the Ajaokuta Steel Complex with $1.7bn. The upper chamber also resolved that in reviving…

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$6bn Mambilla Deal: Abuja High Court remands ex-Power minister in prison

Aminu Imam

A Federal High Court in Nigeria has remanded the country’s former Minister of Power, Olu Agunloye, in prison over his alleged involvement in a $6 billion scandal surrounding the Mambilla hydro-power project. Recall that the Economic and Financial Crimes Commission (EFCC) brought charges against Agunloye, accusing him of fraud, abuse of power, and diversion of public funds related to the project, which has been plagued by delays and corruption allegations for decades. Agunloye appeared before the Federal High Court in Abuja yesterday, and pleaded ‘not guilty’ to the charges read…

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Nigeria’s debts will hit N38.68trn in 2021 – Finance Minister

Aminu Imam

Clarifies why Mambilla Power Project wasn’t captured in 2021 Budget The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the total public debts of Nigeria would hit N38trn by December 2021. The Minister stated this yesterday, during her presentation to the Senate Committee on Local and Foreign Debts. According to Mrs. Ahmed, “The total public debt stock comprising the External and Homes debts of the Federal and state governments and the Federal Capital Territory stood at N31.01trn (USD85.90 billion) as at June 30, 2020. “It is projected,…

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