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The Federal Government on Wednesday said the recently repatriated Abacha loot will go towards three of its five priority projects, excluding the Mambilla power and East-West road projects.
According to a statement by the Senior Special Assistant to the President on Media & Publicity, Garba Shehu, the projects to benefit from the $311 million Abacha loot under the Presidential Infrastructure Development Fund (PIDF) managed by the Nigeria Sovereign Investment Authority (NSIA) include the second Niger bridge, Abuja-Kaduna-Kano expressway, and Lagos-Ibadan expressway. He said the funds are domiciled in the NSIA.
Shehu added that although the Mambilla and East-West expressway are regarded under the PIDF as priority projects, they are exempt from the agreement signed between the Nigerian, United States and British territory of Jersey governments.