Unic Press UK: The Federal Executive Council on Wednesday, the 30th August 2017, approved a contract for the construction of the 3050 MW Mambila Hydro Electric Power Project. “The landmark infrastructure project will cost the country the sum of $5,792,497,062.00”, Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said.
In a statement to journalists at the end of the Executive Council Meeting, the Minster of Works, Power and Housing, Babatunde Fashola, who confirmed that the $5,792,497,062.00 [₦2 trillion] project will be jointly financed and completed in six years’, bemoaned the fact that the project was not executed by the previous administrations. He said:
“Nigeria started talking about it since 1972, which is about 45 years ago. Several efforts have been made to bring it to reality but am happy to announce to you that this government approved the award of the contract today to a joint venture with a Chinese civil engineering company for the engineering contract including civil and electromechanical works for 5.792 billion dollars. It will have a transformational effect on all of Nigeria’s socio-economic development. During its construction and upon completion, and subsequent operation, it will have considerable positive impact on electricity supply nationwide, productivity, employment, tourism, technology transfer, rural development, irrigation, agriculture and food production in the area and beyond.”
