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The presidency last night said it erred when it claimed earlier that Mambila power project and East-west Road projects would benefit from the newly repatriated $311 million Sani Abacha loot.

Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, said he regretted the error contained in the earlier statement he issued which listed the two projects along with three major projects on which the money would be spent.
According to him, the fund, being managed by the Nigeria Sovereign Investment Authority (NSIA), would only be used to finance second Niger Bridge, Abuja-Kaduna-Kano expressway, and Lagos-Ibadan expressway according to agreement reached among Nigerian, United States and British territory of Jersey governments.

Shehu said: “In an earlier statement, I had mistakenly noted that the Mambilla was one of the five priority projects to benefit from the $311 million Abacha loot under the Presidential Infrastructure Development Fund (PIDF) managed by the Nigeria Sovereign Investment Authority (NSIA). That error is regretted.

“Although the Mambilla and East-West expressway are regarded under the PIDF as priority projects, I have ascertained that they are exempt from the agreement signed between the Nigerian, United States and British territory of Jersey governments.
“According to the document, only the second Niger Bridge, Abuja-Kaduna-Kano expressway, and Lagos-Ibadan expressway will benefit from the repatriated funds. The funds are domiciled in the NSIA.

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“All print and online media should please take note of this correction and make the necessary adjustments to their previous publications on the issue.”

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