Nigeria

FEC approves $5.792bn for Mambilla Hydro-Electric Power Plant

The Federal Executive Council, FEC, has approved the construction of Mambilla Hydro-Electric Power Plant to the tune of $5.792 billion.

The announcement was made during the FEC meeting held at the council chamber in Abuja yesterday.

Nigeria is expected to provide 15 percent counterpart funding in the joint venture agreement with China.

The Federal Government has also signed a Gas Sale Aggregation Agreement that will ensure 74 million standard cubic feet of gas gets to consumers in the country.

Meanwhile, President Muhammadu Buhari made the trip to his hometown, Daura, Katsina State, shortly after presiding over the Federal Executive Council meeting.

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