The Senate hon Thursday sought the inclusion of the Mambila Hydroelectric Power Project in the Renewed Hope funding.
It equally urged its committee on Finance and Appropriation to liaise with the Ministry of Finance to ensure the funding of the project.
The upper chamber’s resolution was sequel to a motion sponsored by Sen. Haruna Manu (Taraba) during plenary.
The motion is titled: “Urgent Need to Address the Challenges of Commencing the Mambila Hydroelectric Power Project.
Moving the motion, Manu noted that the Federal Government through the Federal Ministry of Power signed a contract with a consortium of Chinese comprising CGGC, SHC and CGOC in 2017.
“This is to construct a 3050mw hydroelectric project known as the Mambilla Electric Power Project in Taraba at the sum of $5.792 billion”.
He noted that the Federal Executive Council (FEC) of the Buhari administration approved the said contract with an agreed Joint Venture funding structure of 85 per cent from the Chinese consortium and 15 per cent from the Federal Government of Nigeria.
“This is as counterpart funding for the entire project with a 72 months construction period.
“The project has great benefits for local content in the area of human capital development, including the creation of over 55,000 jobs, constriction of resettlement homes for over 100,000 people”.
“The decades of efforts toward the take-off of this national economic asset have been ongoing including that from north-east governors to place the project in implementation mode.”
He expressed worry that the volume of contradictory information about the project may hinder the actualisation of the good objectives and the benefits it brings to the good people of Nigeria.
Contributing, Sen. Victor Umeh (LP-Anambra) said that the project should be given national priority.
NAN
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