FGN using $300m recovered Abacha loot to execute national projects – Official

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FGN using $300m recovered Abacha loot to execute national projects - Official
Late General Sani Abacha

FGN using $300m recovered Abacha loot to execute national projects – Official

The Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority (NSIA), Mr Uche Orji, said Nigeria has committed part of the $300m recovered from the Abacha loot to execute national projects like the Lagos-Ibadan Expressway, Second Niger Bridge, and Abuja-Kaduna-Kano Highway.

Orji, disclosed this at the ministerial press briefing at the State House on Thursday, revealing that Nigeria will also receive 105,000 tonnes of fertilizer raw material from Russia, and Canada on June 3 and June 6 respectively.

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He stated that the Russia-Nigeria potassium link has been re-established in spite of the ongoing Russia-Ukraine war. The expected Russian and Canadian potassium used for blending fertiliser is also part of efforts to ramp up production of the commodity in time for use by farmers in the current farming season.

He further affirmed that the current administration has so far committed over N100bn into the implementation of the ongoing Second Niger Bridge project under the Presidential Infrastructure Development Fund (PIDF).

According to him, only N19 billion had been expended on the project before the coming of the current administration. He added that the money committed to the project and others was part of the $300m recovered from the Abacha loot.

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