Saturday 11th November 2017

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FG, 3 Chinese Firms Agree to Build 3,050MW Mambilla Power Plant in 6 Years Chineme Okafor in Abuja The federal government yesterday signed an agreement with a consortium of three Chinese companies to build the 3,050 megawatts Mambilla hydro power project located in Taraba State within six years. The project which is expected to

cost $5.79 billion would be funded by the Nigerian government and Chinese lenders through the China Exim Bank, on the ratio of 15 and 85 per cent respectively. The firms include China Gezhouba Group Corporation (CGGC), Sinohydro Corporation Limited (SHC) and CGCOC Group Co. Limited. Within the deal, the Chinese

Exim Bank and other Chinese lenders are expected to provide $4.92 billion representing 85 per cent of the project’s cost while the federal government will put forward $868.87 million which represents the 15 per cent. Also, the scope of work for the project includes four large dams - Nya, Sumsum, Nghu and Api Weir, two underground

power house of 12 units of 250MW each, two numbers of 330kV of 700 kilometres transmission lines to Markudi and Jalingo, 120 kilometres of access roads connecting the project site and nearby communities and resettlement of an estimated 100,000 impacted persons. On August 30, the Federal Executive Council (FEC) approved

$5,792,497,062.00 for the project which has been in the making for over 40 years. That approval thus paved the way for the signing of the contract document with the China Gezhouba Group Corporation (CGGC), Sinohydro Corporation Limited (SHC) and CGCOC Group Co. Limited, all considered a joint venture.

It also now allows the federal government to seek finance to meet its counterpart funding obligation to the project. The Minister of Power, Works and Housing, Mr. Babatunde Fashola, who signed on behalf of the Nigerian government, said the project would open a huge Continued on page 6

AfDB, EU Commit $18m to Construction of 1,008km Lagos-Abidjan Highway ...Page 8 Saturday 11 November, 2017 Vol 22. No 8241 Price: N250

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Ikoyi Billions: Whistle Blowers Protest Non-payment of Commission EFCC denies payment claims Yemi Adebowale in Lagos and Paul Obi in Abuja The lawyer to the three friends who blew the whistle on the

sums of $43,449,947, £27,800 and N23,218,000 recovered from an apartment in Ikoyi, Lagos, last April, has written a letter to President Muhammadu Buhari,

demanding that the Economic and Financial Crimes Commission (EFCC) should immediately pay the commission due to the whistle blowers.

On the same day, the EFCC clarified that it never said that the whistle blowers in the Ikoyi flat saga had been paid as reported in the media.

The acting chairman of the commission, Ibrahim Magu had on Thursday remarked that the “young man who blew the whistle is now a millionaire.”

Magu spoke in Vienna, Austria. Surprisingly, the lawyer to the whistle blowers, Yakubu Continued on page 24

Buhari Meets CAN, Promises to Address Lopsidedness in Federal Appointments Christian body demands Nigeria's exit from OIC, D-8 Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday hosted leaders of the Christian Association of Nigeria (CAN) at the Presidential Villa, Abuja, with a promise to address lopsidedness in federal appointments. A statement issued later by the President's media adviser, Mr. Femi Adesina, said the president told the CAN delegation that he had already given instructions for the submission of all the names of heads of parastatals in order to address the allegations of lopsidedness in appointments. “On the question of one-sided appointments, we will look at it. I have given instructions that a list of all heads of parastatals Continued on page 6

PDP Convention: Time for Redemption, LOVE IN THE STEPPES … Says Secondus L-R: Father of the groom and Oyo State Governor, Abiola Ajimobi; Lagos State Governor, Mr. Akinwunmi Ambode; Groom, Abolaji Ajimobi; Jigawa State Governor, Alhaji Badaru Abubakar and father of the bride and Kano State Governor, Dr. Abdullahi Ganduje during the introduction ceremony of Abolaji and Fatima in Kano ... Page 62 ...yesterday PHOTO;STATE HOUSE

Alaghodaro Summit: Buhari, Obaseki, Dangote Discuss new Investment Prospects in Edo ...Page 6


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