Insider report and analysis on Olusegun Obasanjo, Dr Olu Agunloye, Sunrise, Michael Aondoakaa, Umoru YarAdua, Abubakar Malami and other players in Mambilla power contract and how they out-smarted one another in policy somersault and power play that has helped drag the sector on its kneels On Wednesday, May 21, 2003, Dr Olu Agunloye, then minister of power and steel, presented a memo to the federal executive council (FEC). He sought its approval to award a build, operate and transfer (BOT) contract for the Mambilla Hydropower Project to Sunrise Power…
Read MoreTag: Power Minister Saleh Mamman
WAPP Project for Nigeria’s electricity sale to Togo, 3 others to gulp $568m
Nigeria’s power minister says WAPP, which involves the sub-regional interconnection project, referred to as the 330 kV, is a top priority The West African Power pool (WAPP) North Core Regional Interconnection Project, which would aide the sale of electricity from Nigeria to Togo, Benin Republic, Niger and Burkina Faso, has been estimated to cost a total of USD 568 million. Platforms Africa reports that the Federal Government of Nigeria (FGN); African Development Bank (AfDB), the Agence Française de Développement (AFD), and the World Bank (WB) are to…
Read MoreContractor demands $400m as Mambilla Power deals tear Nigeria, Firm Apart
Here are the detailed reasons power contractor, Sunrise Power & Transmission Co., dragged President Muhammadu Buhari’s administration before the ICC in Paris + why this posed a fresh threat to Nigeria’s China loan A Nigerian company that lost out on a contract to build a multibillion-dollar hydropower plant has filed a $400 million arbitration claim against the nation’s government, further hampering its plans to access Chinese financing for the project. Sunrise Power & Transmission Co., a report by Bloomberg shows, accuses the government of reneging on a settlement accord agreed…
Read More