14 November 2017

Nigeria: Govt Signs $5.792bn Contract for 3,050mw Mambilla Power Project

THE Federal government has described the 3,050megawatts hydro power project worth over $5.792 billion (about N2.096 trillion) in Taraba State as a new dawn in the nation's power diversity and energy needs.

Minister of Power, Works and Housing, Mr. Babatunde Fashola, who made remarks while signing the contract agreement for the joint venture with three Chinese firms signal commencement of works on the project, in Abuja, said, this project will give us opportunity for energy aplenty.

He said the project will also give "us opportunity for compliance with Paris climate change agreement because it will be delivering renewable energy while it will give us opportunity to unlock the gift of nature to Nigeria in Taraba."

Fashola who poured encomium on leadership quality of President Muhammadu Buhari, said, "I will like to start by expressing our gratitude to Mr. President, the leadership that he has shown for reviving the project that has stalled, that has stumbled but now back on track after 40 years."

Noting the project would attract economic boom to Taraba state and entire Nigeria, he said, the project will open opportunity for "agriculture, energy, construction, development and you only need to see the number of applications we have already received from people who want to partner and participate in the various areas including insurance who are already cueing up.

The signing of the agreement was witnessed by the Ministers of Water Resources, Suleiman Adamu Kazaure Minister of Environment, Attorney General and Minister of Justice, Mr. Abubakar Malami, representative of the Minister of Federal Capital Territory, FCT, Mohammed Bello and the Minister of States I and II for Works, Power and Housing, Mustapha Baba Shehuri and Mr. Suleiman Hassan Jara, respectively.

While Mr. Fashola signed the contracts agreement on behalf of the Federal Government, the representatives of the Chinese firms who signed for their organisations include Yong Jun for China Gezhouba Corporation, Gan Yongskiv for Sinohydro Corporation Limited and Ye Shijing for CGOC Group Limited.

Recall that the Federal executive Council, FEC, had on August 30, 2017 approved the award of the turnkey contracts of the project to Messrs China Gezhouba Corporation, Sinohydro Corporation Limited and CGOC Group Limited in the total sum of $5,792,497,062.00.

The draft contract agreement was later cleared for signing by the Attorney General of the Federation and Minister of Justice.

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