FG Signs $5.792bn Contract For 3,050MW Mambilla Power Project

The Federal government, on Tuesday, signed the contract agreement for the 3,050megawatts hydro power project worth over $5.792 billion (about N2.096 trillion) in Taraba State.
Minister of Power, Works and Housing, Babatunde Fashola, who signed the joint venture with three Chinese firms in Abuja, described the project as a new dawn in the nation’s power diversity and energy needs.
“This project will give us opportunity for energy aplenty,” he said
“The project will also give us opportunity for compliance with Paris climate change agreement because it will be delivering renewable energy while it will give us opportunity to unlock the gift of nature to Nigeria in Taraba.
“This project would attract economic boom to Taraba state and entire Nigeria and will open opportunity for agriculture, energy, construction, development and you only need to see the number of applications we have already received from people who want to partner and participate in the various areas including insurance who are already cueing up.
“I will like to express our gratitude to Mr. President, the leadership that he has shown for reviving the project that has stalled, that has stumbled but now back on track after 40 years.”
While Fashola signed the contracts agreement on behalf of the Federal Government, the representatives of the Chinese firms who signed for their organisations include Yong Jun for China Gezhouba Corporation; Gan Yongskiv for Sinohydro Corporation Limited; and, Ye Shijing for CGOC Group Limited.
The signing of the agreement was witnessed by the Minister of Water Resources, Suleiman Adamu Kazaure; Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami; representative of the Minister of Federal Capital Territory, FCT, Mohammed Bello and the Minister of States I and II for Works, Power and Housing, Mustapha Baba Shehuri and Mr. Suleiman Hassan Jara, respectively.