General
$6bn Mambilla Power Fraud: Obasanjo Denies Granting Project Approval
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) in an Abuja high court has tendered the statement made to it by former President Olusegun Obasanjo in the trial of Mr Olu Agunloye, saying no consent was granted for the project.
Mr Agunloye, a former Minister of Power and Steel under Mr Obasanjo, is being charged with infractions in the award of contract for Mambilla Hydropower Station in Taraba.
The former Minister is standing trial on an a seven-count charge bordering on forgery, disobeying presidential directive and gratification brought against him before Justice Jude Onwuegbuzie, of Apo high court.
In the charge, marked FCT/HC/CR/617/2023, EFCC alleged that Mr Agunloye awarded contract for the Mambilla project on May 22, 2003 to Sunrise Power and Transmission Company Limited (SPTCL) without any budgetary provision, approval, and cash backing.
The commission also alleged that the former minister received N5.212million from SPTCL and Leno Adesanya, through Jide Abiodun Sotirin through his Guaranty Trust Bank (GTB) account to “convey” the Federal Government’s approval for the construction of the Mambilla power project in favour of SPTCL while serving as minister.
The former minister, however, pleaded not guilty to the charge against him.
At the resumed hearing of the case , the third prosecution witness (PW3), Mr Umar Hussein Babangida, an Assistant Commissioner of Police on secondment to EFCC told the court that former president Obasanjo, wrote a letter, dated Nov. 27, 2023, to the Attorney-General of the Federation (AGF) and Minister of Justice.
He added that in the letter, he gave account of what transpired at the Federal Executive Council (FEC) meeting of May 21, 2003 concerning the power project contract.
The witness said that EFCC subsequently wrote to the Federal Ministry of Justice, requesting for the Certified True Copy (CTC) of the former president’s letter, which the ministry obliged the commission.
“We received the CTC of the document where the former president stated that he received a memorandum from the former Minister of Power.
He added that and he minuted on the document, directing minister to submit a memo to the Federal Executive Council for deliberation.
He said but, “he did not give approval to the minister for the award of the contract and neither was approval given at FEC meeting of May 21, 2003.”
The witness further informed the court that in the cause of the investigation,, the commission’s investigating team, met with Mr Obasanjo.
“We interviewed the former president and he later made a statement.
“In the cause of the interview, Obasanjo told us that he did not give approval to the defendant to award the Mambilla Hydroelectric Power Station to SPTCL,” he said.
The prosecution counsel, Mr Abba Mohammed SAN, then tendered the former president’s statement as an exhibit in the case.
The defendant’s counsel, Mr Samuel Fagade, who represented the lead counsel, Mr Adeola Adedipe SAN, objected to the document though he did not state the grounds of object.
He, however, told the court that he was reserving it for the final argument in the case.
The former president’s statement was temporarily admitted as an exhibit by the court.
Giving the summary of their interview session with the former president, Mr Babangida told the court that Obasanjo told the investigating team that the former minister was directed by the FEC meeting of May 21, 2003 to withdraw his memorandum.
He added that the team was further told by Mr Obasanjo that the letter issued on May 22, 2003 by the then minister of power awarding the contract to SPTCL was not on behalf of the Federal Government of Nigeria.
The witness further told the court that the investigating team then reviewed Agunloye’s financial records and discovered that he (defendant) operated several bank accounts, including one with the GT Bank.
He informed the court that Agunloye received money through his GT Bank account from one, Mr Sotirin Jide Abiodun.
He said he was a domestic personal assistant to Mr Leno Laitan Adesanya as well as staff member of companies belonging to Mr Adesanya and a director in Sunrise Power Transmission Company Limited.
According to the witness, Mr Sotirin Abiodun transferred the sums of N3.6million; N500,000 and N1.1 million to Mr Agunloye’s account on August 10, 2019, October 22, 2019 and November 13, 2019 respectively.
Justice Onwuegbuzie adjourned until June 18 for continuation of hearing.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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