The presidency has come out to give a blow by blow account of how it intends to distribute the $311 million looted by the late Head of State, General Sani Abacha, but recently repatriated by the United States government.
Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said the bulk of the money would go towards three of the Federal Government’s five priority projects, excluding the Mambilla Power and East-West Road projects.
He took the opportunity of a statement he issued on behalf of the Presidency on Wednesday to correct a misconception, saying in an earlier statement, he had mistakenly noted that the Mambilla was one of 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,” Shehu said.
According to the presidential spokesman, although the Mambilla and East-West expressway were regarded under the PIDF as priority projects, he had been able to ascertain that they are exempted from the agreement signed between the Nigerian, United States and the British territory of Jersey governments.
According to the document, only the second Niger Bridge, the Abuja-Kaduna-Kano expressway, and the Lagos-Ibadan expressway would benefit from the repatriated funds. The funds are domiciled in the NSIA.
He said all print and online media organizations should take note of the correction and make the necessary adjustments to their previous publications on the issue.