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How recovered $311 million Abacha loot will be spent – Presidency

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President Buhari has announced its plans for the 311 million US Dollars repatriated from the United States as Abacha loot.
According to a statement issued by the Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Garba Shehu, the funds have already been allocated and will be used in full, for vital and decades-overdue infrastructure development.
The projects to be executed include the second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways – creating tens of thousands of Nigerian construction jobs and local skills, which can then be useful in future projects.
“Part of the funds will also be invested in the Mambilla Power Project which, when completed, will provide electricity to some three million homes – over ten million citizens – in our country,” He added.
“Indeed, previous monies returned last year from Switzerland – some $320 million US dollars – are already being used for the government’s free school feeding scheme, a stipend for millions of disadvantaged citizens, and grain grants for those in severe food hardship.

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
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