Tag "Mambilla"

    Garba Shehu: Mambilla power project won’t benefit from $311m Abacha Loot

Garba Shehu: Mambilla power project won’t benefit from $311m Abacha Loot

Garba Shehu, senior special assistant to the president on media and publicity, says Mambilla power plant is not included in the projects to be funded with the recently repatriated Abacha Loot. Nigeria had received $311 million stolen during the Abacha regime from the US and the Bailiwick of Jersey earlier in the month. Shehu had initially listed the power project among the beneficiaries [...]

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    EXCLUSIVE: With COVID-19 pandemic, Nigeria seeks to review Sunrise $200m settlement

EXCLUSIVE: With COVID-19 pandemic, Nigeria seeks to review Sunrise $200m settlement

Abubakar Malami, attorney-general of the federation, has written Leno Adesanya, chairman of Sunrise Power Transmission Company of Nigeria Ltd (SPTCL), to seek a review of the $200 million settlement reached over the Mambilla power project dispute. TheCable reported on Wednesday that President Muhammadu Buhari has declared that Nigeria does not have the money to pay Sunrise to withdraw its $2.354 billion claim against the [...]

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    EXCLUSIVE: FG to pay Sunrise Power $200m ‘compensation’ to end Mambilla dispute

EXCLUSIVE: FG to pay Sunrise Power $200m ‘compensation’ to end Mambilla dispute

The federal government has agreed to pay $200 million to Sunrise Power and Transmission Company Limited (SPTCL) as final settlement of the dispute over the Mambilla power project in Taraba state, TheCable can report. The government also agreed to pay a penalty of 10 per cent in case of a default in fulfilling the settlement agreement -- in addition to restoring [...]

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    China: We won’t fund Mambilla power until Nigeria settles legal dispute

China: We won’t fund Mambilla power until Nigeria settles legal dispute

The Chinese government has asked Nigeria to settle the legal dispute over the $5.8 billion Mambilla power failing which it would not provide the funds for the project. In 2006, the China Gezhouba Group Corporation of China (CGGC) and China Geo-Engineering Group Corporation (CGCOC) had won the bid for a joint venture to execute the hydropower project with a proposed capacity [...]

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    Nigeria risks another $2.3bn fine in France — after P&ID’s $9.6bn

Nigeria risks another $2.3bn fine in France — after P&ID’s $9.6bn

As the country continues to battle with the $9.6 billion award in favour of P&ID, another possible $2.3 billion fine in arbitration is hanging over the country in France as a result of controversies surrounding the Mambilla power project in Taraba state.  In August, a British commercial court had granted P&ID powers to seize Nigerian assets worth $9.6 billion over a failed [...]

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    Buhari seeks China’s support on Mambilla power project

Buhari seeks China’s support on Mambilla power project

President Muhammadu Buhari on Wednesday sought support from the Chinese government for the speedy completion of the Mambilla power project in Taraba state. In November 2017, the federal government and Chinese contractors signed a N2.1 trillion (about $5.792 billion) contract deal in Abuja to execute the 3050 megawatts (MW) Mambilla hydropower project. The project was first awarded in 2007 under President Olusegun [...]

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    Fashola: Bear with us on the state of roads… we are constrained

Fashola: Bear with us on the state of roads… we are constrained

Babatunde Fashola, minister of power, works and housing, says his ministry is constrained, appealing to Nigerians to exercise patience. Speaking with state house correspondents at the end of the federal executive council meeting, Fashola lamented the effect of the raining season on ministries departments and agencies responsible for civil works and road maintenance. The minister said during his tour in the first [...]

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