The Minister of Justice and Attorney General of the Federation, Abubakar Malami, has signed an agreement with the government of the United State of America to draw down the balance of $300 million Abacha loot.
The agreement, which was signed on Monday in the United States by the representatives of the countries, paves the way for Nigeria to draw down the huge cash and deploy same for three critical infrastructure projects.
According to Malami in a statement by his Special Assistant on Media and Public Relations, Dr. Umar Gwandu, the projects are: the Second Niger Bridge in Onitsha, Lagos-Ibadan and Abuja-Kano expressways.
Malami said: “As you are aware, the government of Nigeria has committed that the assets will support and assist in expediting the construction of three major infrastructure projects across Nigeria: the Lagos – Ibadan Expressway, Abuja – Kano Road and the Second Niger Bridge.
“These projects are being executed under the supervision of the Nigeria Sovereign Investment Authority as a Public Private Partnership that will boost economic growth and help alleviate poverty by connecting people and supply chains from the East to the West and to the Northern part of Nigeria, a vast area covering several kilometers with millions of the country’s population set to benefit from the road infrastructures,” the minister explained. ”