45 years after Nigeria began talks
about its take off, the federal government has approved $5.792b for the
construction of the 3,050 megawatts Mambilla Hydro-Power project at Gembu,
Taraba State.
The approval was made yesterday at
the Federal Executive Council, FEC, presided over by President Muhammadu
Buhari.
The Minister of Power, Works and
Housing, Babatunde Fashola, gave the hint while briefing State House
correspondents alongside the minister of Labour and Employment and their Sports
counterpart.
Noting that the scope of work of
the project will include the construction of four dams and 700 kilometres of
transmission lines, the minister said the project, when completed, will boost
the nation’s economy.
He added that it will also unleash
the potential that had been reported about Mambilla in the fields of
agriculture, tourism and energy.
Fashola said, while the project
will be jointly financed by the federal government and the China Export Import,
EXIM, Bank, EXIM bank will provide 85 per cent of the cost and the federal
government will provide 15 per cent.
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