Abacha Loot: Buhari opens up on how returned $311m will be spent - Welcome to Uju Ayalogu's Blog

Breaking News

Post Top Ad

Tuesday, 5 May 2020

Abacha Loot: Buhari opens up on how returned $311m will be spent

Abacha Loot: Buhari opens up on how returned $311m will be spent

President Muhammadu Buhari on Tuesday opened up on projects that the repatriated $311m from the United States will be expended on Nigeria.

The amount is part of funds looted by the late Head of State, Sani Abacha and stashed away in the United States.

President Buhari indicated that the funds have been allocated for infrastructure development that is decades-overdue across Nigeria.

A statement by the President’s spokesperson, Garba Shehu said the money has been allocated for the completion of the second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressway.

READ ALSO:   Nigeria govt finally reveals drug used for treating COVID-19 patients

Also, part of the money will be used for the creation of tens of thousands of Nigerian construction jobs and local skills, which can then be useful in future projects.

The statement reads: “On Monday, May 4, 2020, some $311 million US Dollars – stolen from the citizens of Nigeria during the Abacha regime – were safely returned to our country from the United States.

“These funds have already been allocated, and will be used in full, for vital and decades-overdue infrastructure development: 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.”

He also disclosed that part of the funds will be invested in boosting Nigeria’s power sector.

The statement added: “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.

“The receipt of these stolen monies – and the hundreds of millions more that have already been returned from the United Kingdom and Switzerland – are an opportunity for the development of our nation, made far harder for those decades the country was robbed of these funds.

“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.”

READ ALSO:   Nigerian Government Receives $311 Million Abacha Loot from USA

Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music and Submit your story on Ujuayalogusblog.com by clicking here. For Advert Inquiries Tel/+44(0)7590363984

For More:   Subscribe to Ujuayalogusblog.com

Share This

No comments:

Listen to This Beautiful New Talent - Winter Wolf - Singing "What a Waste"


Post Bottom Ad

Pages