BREAKING: Buhari reveals how recovered $311 million Abacha loot will be spent

The Presidency has announced its plans for the 311 million US Dollars repatriated from the United States as Abacha loot. This money followed a series of repatriated funds stolen by the former military General Sanni Abacha since 1998.

In a statement issued by the Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Garba Shehu, the Federal government recovered the latest on Monday.

According to him, the funds have already been allocated and will be used in full, for vital and decades-overdue infrastructure development.

The projects to be executed include the second Niger Bridge, the Lagos-Ibadan and Abuja-Kaduna-Kano expressways – creating tens of thousands of Nigerian construction jobs and local skills, which can then be useful in future projects.

“Part of the funds will also be invested in the Mambilla Power Project which, when completed, will provide electricity to some three million homes – over ten million citizens – in our country,” He added.

He, however, made it known that the receipt of these stolen monies – and the hundreds of millions more that have already been returned from the United Kingdom and Switzerland – are an opportunity for the development of our nation, made far harder for those decades the country was robbed of these funds.

“Indeed, previous monies returned last year from Switzerland – some $320 million US dollars – are already being used for the government’s free school feeding scheme, a stipend for millions of disadvantaged citizens, and grain grants for those in severe food hardship.

Without these funds, the fight against Covid-19 would be even tougher.

The latest return is a testament to the growing and deepening relationship between the government of Nigeria and the government of the United States.

Without cooperation both from the UK Government, the US Executive branch and US Congress, we would not have achieved the return of these funds at all.

For years many countries deemed successive Nigerian administrations as too corrupt, too venal and too likely to squander and re-steal the stolen monies – so they did not return the funds.

Today, US, UK and other jurisdictions have found the partnership with the nation of Nigeria they can finally trust,” the statement read in parts.

Mr Shehu then assured that the Buhari-led administration is committed to – and is enacting – total and zero tolerance to corruption in politics and public administration.

“The days when the government was seen and used by the political class as their personal ATM to empty are over. The time of better governance and clean hands in the affairs of state is here to stay,” He declared.

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  1. all Na story. proving to be utilized as stated. then they should come on air and give Nigerians the breakdown how it will be spent. not for telling us for Niger bridge, etc. how much is allocated for Niger bridge, how much has been expended so far on it, the budgeted allocation for the project before expenditure, amount left to balance, y another money is to be allocated to same project all the time. Nigerians is expecting every kobo spent for transparency, accountability and probity.

  2. The only thing I will say is to use that money to crate job for us there are many numbers of us looking for job..am a living witness I need job please.

  3. 2nd Niger bridge was said to be commissioned in February, 2022. If this is achieved,it will be a remarkable achievement of this government in South East Nigeria.

  4. Buhari was in the Abacha regime. It was their handwork-looting. Obj made a way for the return of the loots he and his principal did. The unfortunate thing is that the look is returned to the looter.

  5. I didn’t bother reading wateva nonsense he has to say because I knw the money will end up in their pocket..wicked souls

  6. Why not invest this money in steel sector (ASCOL) to enable Nigeria diversify at this crusial time that oil is suffering from market epilepsy.

  7. We thank God and current administration in Nigeria for working earnestly to restore the dignity of our motherland.
    The president buhari led administration should You endeavour to spend the money wisely on the appropriate areas. They should the money to put laughter into mouth of Nigerians. Nigerian govt please spend wisely.

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