Fg Ready To Kickoff 3,050mw Mambila Hydro Dam Project, Signs $5.72 Billion Contract Award
After over four decades of being on the drawing board, the 3,050 Megawatts Mambila Hydro Dam project in Taraba State is ready to kick off following the Federal Government’s recent approval of the award of the contract for the $5.72billion project.
The Minister of Power Works and Housing, Mr. Babatunde Fashola SAN, who disclosed this in Abuja, said the Office of the Attorney General was already perfecting the contract agreements preparatory for the final approval by Council, which, according to him, would take place in a few weeks’ time.
According to Fashola, the project, which had been in design and conception since 1972, would give a lot of momentum to the nation’s economy when the construction starts, adding that “it speaks very eloquently to our commitment to renewable energy, to our commitment to the Paris Climate Change Accord and also to a diversity of our power resource so that we are not over-dependent on one source of power”.
Hinting that the Federal Government would be open to new and tangible offers that would lead to divesting its 40 per cent shares in the 11 Distribution Companies (DisCos) in the country, the Minister said Government was looking forward to having private investors bring before it viable proposals that would lead to such divestment if available.