Presidency says $311m Abacha loot will be spent on infrastructure development

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Posted by Tobiloba May 5, 2020

The presidency has disclosed that the $311 million Abacha loot returned to Nigeria country from the United States would be used for infrastructure development.

Garba Shehu, the senior special assistant to the president on media and publicity in a statement on Tuesday, May 5, disclosed that some of the infrastructure projects the funds will be used for include the second Niger Bridge, the Lagos–Ibadan and the Abuja–Kaduna–Kano expressways.

Garba Shehu said part of the funds will be used for the second Niger Bridge. Photo credits: Channels TV
He said 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 the country.

Garba explained that the receipt of the stolen monies from the United Kingdom and Switzerland has afforded the country the opportunity to develop the nation.

He said the return of the stolen funds is evidence that the US, UK, and other jurisdictions trust that the Buhari administration would put the funds to good use.

The presidential spokesperson said Buhari administration is committed to zero tolerance to corruption in politics and public administration.

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