The presidency has clarified that recently repatriated Sani Abacha loot, amounting to $311 Million will go towards three of the Federal Government’s five priority projects, excluding the Mambilla power and East-West road projects.
In an earlier statement, the presidency had said 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).
A statement today, May 13, regretting the error, by the senior special assistant to the President on media and publicity, Malam Garba Shehu, said that although the Mambilla and East-West expressway are regarded under the PIDF as priority projects, they are exempted 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.”