5 years after Nigeria began talks about its take off, the federal government has approved $5.792b for the construction of the 3,050 megawatts Mambilla Hydro-Power project at Gembu, Taraba State.
The approval was made yesterday at the Federal Executive Council, FEC, presided over by President Muhammadu Buhari.
The Minister of Power, Works and Housing, Babatunde Fashola, gave the hint while briefing State House correspondents alongside the minister of Labour and Employment and their Sports counterpart.
Noting that the scope of work of the project will include the construction of four dams and 700 kilometres of transmission lines, the minister said the project, when completed, will boost the nation’s economy.
He added that it will also unleash the potential that had been reported about Mambilla in the fields of agriculture, tourism and energy.
Fashola said, while the project will be jointly financed by the federal government and the China Export Import, EXIM, Bank, EXIM bank will provide 85 per cent of the cost and the federal government will provide 15 per cent.
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