Buhari urges speedy completion of Mambilla power project

President Muhammadu Buhari Wednesday in Beijing pledged that his administration will honour all agreements concluded between Nigeria and China under previous administrations to ensure the speedy completion of outstanding joint projects, including the 4,000 megawatts Mambilla Hydro-Electric Power Project.

The Mambilla Hydro-Electric Power Project was earmarked for construction by the immediate past government within its long-term development plan for Nigeria’s power sector

The 3050mw Mambilla hydroelectric plant located in Taraba State was to be built at the sum of about $3.2 billion by China Gezhouba Group Company and SynoHydro; The Mambilla power plants is expected to be undertaken on a build, operate and transfer (BOT) concession agreement with counterpart contributions of 15 per cent and 25 per cent respectively.

The Exim Bank of China was to provide outstanding funding percentages required to construct the power projects which are also expected to yield returns for repayment of the concessionary loans.

When completed, Mambilla will become the largest single hydro power project in the country. The proposed contracting structure for Mambilla stipulates that Messrs SinoHydro will cover 70 per cent of the project while Messrs CGGC Limited (China Gezhouba Group Company) covers 30 percent of the project scope.

Speaking at a meeting with Li Keqiang, the Premier of the State Council of the Peoples Republic of China, President Buhari regretted the failure of past governments to meet Nigeria’s obligations in joint projects with China.

The President told the Chinese Premier that his administration was committed to the completion, in the shortest possible time, of all joint power, rail, road and aviation projects that will directly and quickly improve the lives of Nigerians.

President Buhari said that he was particularly keen on actualizing the Mambilla Power Project because of its huge potential to boost employment and national economic growth.

The Chinese Premier commended ongoing efforts by the Buhari Administration to improve Nigeria’s infrastructure.

He assured the President that China was ready to work with his administration to complete all joint projects, including the Mambilla Power Project.

 

Elizabeth Archibong