Nigeria’s 3, 050 Megawatts Mambilla Power Plant will cost US$5.72 billion, the minister of Power, Works and Housing, Mr. Babatunde Fashola has said.
He said arrangements were at an advanced stage to secure the funds from the Chinese government in the form of loans.
Fashola said at a ceremony to mark his three years in office that work on the Mambilla Power Plant, which had suffered several setbacks for over 40 years, is set to commence from early 2019.
According to Fashola, the Federal Executive Council (FEC) has approved the project.
He said President Muhammadu Buhari is committed to ensuring the urgent commencement of the project, which is expected to be completed within 60 months.
On the level of development of the project, Fashola said, “the progress is that for the first time in over 40 years the federal government has now signed an engineering and procurement contract. President Buhari has made that…