Mamman: Why FG reduced Mambilla power project to 1,500MW from 3,500MW – Newstrends
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Mamman: Why FG reduced Mambilla power project to 1,500MW from 3,500MW

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Saleh Mamman, minister of power, says the federal government reduced the capacity of the Mambilla power project from 3,500 to 1,500 megawatts to ensure adequate funding by lenders.

In 2019, Zhou Pingjian, the former Chinese ambassador to Nigeria, said his country would not support white elephant projects.

Pingjian had advised Nigeria to promote direct participation of the Chinese government or companies in some of its projects to reduce much borrowing and facilitate easier execution of projects.

Mamman said this on Tuesday when he appeared before the senate committee on power.

He said the project capacity was adjusted to 1,500 megawatts to conform with current market realities and for lenders to accept it.

“We discovered that the 3050 megawatts is not visible. We have sent officials to China to review the project, and the memo is on the table of Mr President waiting for approval,” he said.

“The idea is to make it bankable. The market that we are operating in today in Nigeria is different from the market operated when the Mambilla project was conceived.

“Today, we need a project that can be paid for in the market. We are funding the project with loan from a lender who is only interested in funding a project that can pay back the loan. Most of the issues around the Mambilla power plant are on the bankability of the project. What we did was to redesign the project to be bankable and acceptable to the lenders.”

On why the ministry awarded N812 million to Taraba State government for surveying and demarcation of land where the project would be sited, the minister said it was based on agreement with the federal government.

“We entered into agreement with the state to support it with money to engage firms, based on the local procurement process, to survey and demarcate the land it donated for the project,” he added.

In 2017, the federal government signed the $5.8 billion Mambilla power plant contract to Messrs China Gezhouba Corporation, Sinohydro Corporation Limited and CGOC Group Limited.

The project is presently a subject of litigation after Sunrise Power Transmission Company of Nigeria Ltd (SPTCL) filed lawsuits against the federal government for “breach of contract”.

 

 

 

 

 

 

 

 

 

 

 

 

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I’m alive, Obasanjo reacts to death rumour 

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I’m alive, Obasanjo reacts to death rumour 

 

Former President, Olusegun Obasanjo, has said he is alive, hale and hearty.

He stated this in reaction to rumours of his death being reportedly spread on some social media platforms.

He spoke in Osogbo, Osun State, during the inauguration of the Old-Garage/Oke-Fia Road reconstructed by Governor Ademola Adeleke.

Obasanjo said those who wanted him dead were spreading the rumour of his death on the social media.

He said, “I heard the rumour that I was dead. I saw it on the social media. I quickly told my children and my relations that it was not true and that I’m alive.

“Those that want me dead, that is their wish, but God still keeps me alive.”

Obasanjo praised Adeleke for his performance in Osun and charged the governor to keep up the work.

Governor Adeleke assured the people of the state that his administration would complete all the ongoing projects.

“My dear people of Osun State, our administration has constructed over 120 kilometres of roads across the state.

“Two major flyovers are also progressing to completion at Osogbo while work is progressing at the Ile Ife Flyover and Ilesa dualisation.”

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Tinubu jets out to France on three-day visit

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Tinubu jets out to France on three-day visit

 

President Bola Tinubu will travel to France today (Wednesday) for a three-day state visit at the instance of the French president.

A statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed this.

It said, “The Nigerian leader’s three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.”

Onanuga said Tinubu and Macron would harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.

“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication,” he added.

“They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.”

The presidential adviser stated that the Nigerian first lady and her French counterpart would discuss solutions for empowering women, children, and the most vulnerable through the Renewed Hope initiative.

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Yahaya Bello reports to EFCC office with lawyers

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Yahaya Bello reports to EFCC office with lawyers

 

A former Governor of Kogi State, Yahaya Bello, on Tuesday visited the Economic and Financial Crimes Commission (EFCC) to honour another invitation extended to him over alleged misappropriation of funds.

Bello went to the anti-graft office with his lawyers in the morning.

The ex-Kogi governor reportedly drove himself to the EFCC’s office in a black Toyota Hilux van with some lawyers.

He was said to have been taken by some operatives of the agency and are currently being grilled.

This is  coming after the Supreme Court judgment which dismissed a suit brought by some state governments challenging the constitutionality of the agency.

The EFCC at the last hearing on November 14, sought the adjournment till November 27 in the fresh case it instituted against Bello.

It stated that the 30-day window was still running for the summons earlier issued.

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