The Federal Government has decided to use part of the $300m recovered from the Gen. Sani Abacha looted money to complete the construction of the Lagos-Ibadan expressway and the second Niger bridge.
Other projects the repatriated stolen money will be expended on include the Mambilla power plant.
The President Muhammadu Buhari administration, through the office of the Attorney General of the Federation and Minister of Justice, had confirmed the receipt of the Abacha loot repatriated from the United States and the Island of Jersey.
In a statement, ‘On The Return of The Abacha Stolen Millions From The United States and Jersey’, by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, confirmed the funds were already allocated and would be deployed in projects that will be “useful in future”.
Shehu explained, “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 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.
“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.”
Shehu added that part of the previously repatriated funds were being used to implement “the government’s free school feeding scheme, the stipend for millions of disadvantaged citizens, and grain grants for those in severe food hardship”.