#Mambilla Hydropower Project

[nigerianewstimes]

EFCC declares company promoter wanted over failed $6bn Mambilla Hydropower Project

The EFCC posted the notice declaring Mr Adesanya, a promoter of Sunrise Power and Transmission Ltd, wanted on its verified Facebook page on Wednesday.

Nigeria’s anti-corruption agency, EFCC, has declared Leno Laitan Adesanya, a promoter of Sunrise Power and Transmission Ltd, wanted over his alleged role in the $6 billion Mambilla hydropower contract.

The EFCC posted the notice declaring Mr Adesanya wanted on its verified Facebook page on Wednesday.

In the publication signed by EFCC spokesperson Dele Oyewale, the commission urged members of the public to volunteer useful information about Mr Adesanya’s whereabouts.

Mr Adesanya, 66, hails from Eti-Osa Local Government Area of Lagos State.

Background

In January, the EFCC arraigned a former Minister of Power and Steel, Olu Agunloye, on corruption charges concerning the failed multi-billion-dollar Mambilla Hydropower project.

In one of the seven counts filed by the anti-graft agency, it accused Mr Agunloye of awarding a contract in May 2003 for the construction of 3,960 megawatts (mw) Mambilla Hydroelectric Power Station on a ‘Build, Operate and Transfer basis’ “without any budgetary provision, approval and cash backing”.

The commission said the award of the contract to Sunrise Power and Transmission Company Limited (SPTCL) constituted an offence contrary to and punishable under Section 22(4) of the Corrupt Practices and Other Related Offences Act, 2000.

It also accused Mr Agunloye of corruptly receiving N3.6 million from Sunrise Power company in August 2019, years after leaving office, for the purported approval of the federal government for the award of the contract to the company.

EFCC said this act is also contrary to and punishable under Section 8(1)(a) and (b) of the Corrupt Practices and Other Related Offences Act, 2000.

But Mr Agunloye denied all the charges, insisting that he is being picked on as the fall guy for the government’s mishandling of the project, while those who were responsible for it were left off the hook.

The project, first awarded in 2003 to Sunrise Power and Transmission Limited by the Olusegun Obasanjo-led administration, is the subject of decades of a legal dispute that is now under international arbitration between the company and the Nigerian government.

Mr Obasanjo, in distancing himself from the botched contract, claimed that he was not aware that the contract was awarded by his then-minister, Mr Agunloye.

According to Mr Agunloye, the contract for the project was duly awarded in 2003 by the Obasanjo administration on a Build, Operate and Transfer basis to deliver Nigeria’s biggest power plant with over 3,000 megawatts capacity at no cost to the Nigerian government.

The project was expected to address Nigeria’s intractable energy crisis.

#efcc #Mambilla Hydropower Project #company promoter #failed $6bn #news #nigerianewstimes #Sunrise Power and Transmission Ltd

[bcc-24news]

EFCC declares Leno Adesanya, promoter of Sunrise Power, wanted

ABUJA – Leno Adesanya has been declared wanted by the Economic and Financial Crimes Commission (EFCC).

Adesanya is the promoter of Sunrise Power and Transmission Ltd.

In a notice issued on Tuesday, the EFCC said Adesanya is wanted “in an alleged case of conspiracy and corrupt offer to public officers”.

Adesanwa was mentioned in three out of the seven-count charges preferred against Olu Agunloye, former minister of power and steel.

The EFCC is prosecuting Agunloye over the $6 billion Mambilla hydropower contract.

Reported that EFCC traced some suspicious payments made by Sunrise Power and Transmission Ltd to Agunloye’s bank accounts.

In one of the counts, the EFCC alleged that on August 10, 2019, Agunloye “corruptly received the sum of N3,600,000.00” through his Guaranty Trust Bank account no.0022530926 from Sunrise Power and Transmission Company Limited (SPTCL) and Leno Adesanya for approving the Mambilla Hydroelectric Power Station project.

Former President Olusegun Obasanjo had challenged Agunloye to tell Nigerians where he derived the authority to award a $6 billion contract to Sunrise for the Mambilla hydropower project in 2003.

Sunrise Power is in arbitration with Nigeria at the International Chamber of Commerce (ICC), Paris, France, alleging a breach of contract.

The company said it was awarded a $6 billion build, operate and transfer (BOT) contract in May 2003 by the Obasanjo administration but that the federal government repudiated the agreement.

Sunrise is asking for a compensation of $2.3 billion, claiming it had spent millions of dollars on financial and legal consultants before the contract was jettisoned.

In its defence at the arbitration, the Nigerian government is alleging fraud and corruption of public officials in the award of the contract.

The matter is similar to the P&ID case in which a UK court nullified an $11 billion award against the country for the same reasons.

[news-24press]

EFCC declares Leno Adesanya, promoter of Sunrise Power, wanted over ‘corrupt offer to public officers’

The Economic and Financial Crimes Commission (EFCC) has declared Leno Adesanya, the promoter of Sunrise Power and Transmission Ltd.

In a notice issued on Tuesday, the EFCC said Adesanya is wanted “in an alleged case of conspiracy and corrupt offer to public officers”.

Adesanwa was mentioned in three out of the seven-count charges preferred against Olu Agunloye, former minister of power and steel.

The EFCC is prosecuting Agunloye over the $6 billion Mambilla hydropower contract.

news-24press had reported that EFCC traced some suspicious payments made by Sunrise Power and Transmission Ltd to Agunloye’s bank accounts.

In one of the counts, the EFCC alleged that on August 10, 2019, Agunloye “corruptly received the sum of N3,600,000.00” through his Guaranty Trust Bank account no.0022530926 from Sunrise Power and Transmission Company Limited (SPTCL) and Leno Adesanya for approving the Mambilla Hydroelectric Power Station project.

Former President Olusegun Obasanjo had challenged Agunloye to tell Nigerians where he derived the authority to award a $6 billion contract to Sunrise for the Mambilla hydropower project in 2003.

Sunrise Power is in arbitration with Nigeria at the International Chamber of Commerce (ICC), Paris, France, alleging a breach of contract.

The company said it was awarded a $6 billion build, operate and transfer (BOT) contract in May 2003 by the Obasanjo administration but that the federal government repudiated the agreement.

Sunrise is asking for a compensation of $2.3 billion, claiming it had spent millions of dollars on financial and legal consultants before the contract was jettisoned.

In its defence at the arbitration, the Nigerian government is alleging fraud and corruption of public officials in the award of the contract.

The matter is similar to the P&ID case in which a UK court nullified an $11 billion award against the country for the same reasons.

[24-latest-news]

EFCC declares Leno Adesanya, promoter of Sunrise Power, wanted over ‘corrupt offer to public officers’

The Economic and Financial Crimes Commission (EFCC) has declared Leno Adesanya, the promoter of Sunrise Power and Transmission Ltd.

In a notice issued on Saturday, the EFCC said Adesanya is wanted “in an alleged case of conspiracy and corrupt offer to public officers”.

Adesanwa was mentioned in three out of the seven-count charges preferred against Olu Agunloye, former minister of power and steel.

The EFCC is prosecuting Agunloye over the $6 billion Mambilla hydropower contract.

24-latest-news had reported that EFCC traced some suspicious payments made by Sunrise Power and Transmission Ltd to Agunloye’s bank accounts.

In one of the counts, the EFCC alleged that on August 10, 2019, Agunloye “corruptly received the sum of N3,600,000.00” through his Guaranty Trust Bank account no.0022530926 from Sunrise Power and Transmission Company Limited (SPTCL) and Leno Adesanya for approving the Mambilla Hydroelectric Power Station project.

Former President Olusegun Obasanjo had challenged Agunloye to tell Nigerians where he derived the authority to award a $6 billion contract to Sunrise for the Mambilla hydropower project in 2003.

Sunrise Power is in arbitration with Nigeria at the International Chamber of Commerce (ICC), Paris, France, alleging a breach of contract.

The company said it was awarded a $6 billion build, operate and transfer (BOT) contract in May 2003 by the Obasanjo administration but that the federal government repudiated the agreement.

Sunrise is asking for a compensation of $2.3 billion, claiming it had spent millions of dollars on financial and legal consultants before the contract was jettisoned.

In its defence at the arbitration, the Nigerian government is alleging fraud and corruption of public officials in the award of the contract.

The matter is similar to the P&ID case in which a UK court nullified an $11 billion award against the country for the same reasons.

[dailypress]

$6bn Mambilla project: EFCC declares Sunrise Power promoter, Adesanya wanted

The Economic and Financial Crimes Commission has declared Leno Adesanya, promoter of Sunrise Power and Transmission Limited, wanted.

A notice by the EFCC on Tuesday said Adesanya is wanted  for “an alleged consipiracy and corrupt offer to public officers”.

Recall that Adesanya was mentioned in three of seven count charges against a former Minister of Power and Steel, Olu Agunloye, who is being prosecuted by the EFCC over the $6bn Mambilla hydropower contract.

Agunloye was arraigned on seven charges, bordering on the fraudulent award of a contract and official corruption in January 2024.

The EFCC alleged that on May 22, 2003, Agunloye awarded a contract, titled “Construction of 3,960MW Mambilla Hydroelectric Power Station on a Build, Operate and Transfer Basis” to Sunrise Power and Transmission Company Limited, without any budgetary provision, approval, or cash backing.

The former minister was also alleged to have on August 10, 2019, corruptly received the sum of N3.6m from Sunrise Power and Transmission Company Limited, and Leno Adesanya for having conveyed the ‘approval of the Government of the Federal Republic of Nigeria for the construction of the 3,960 megawatts Mambilla Hydroelectric Power Station’ in favour of SPTCL, which was done without the approval of the Federal Executive Council.

Adesanya however pleaded not guilty to the charges.

Meanwhile, Sunrise Power is in arbitration with Nigeria at the International Chamber of Commerce, Paris, France, alleging a breach of contract, according to reports by The Cable.

The company said it was awarded a $6bn build, operate and transfer (BOT) contract in May 2003 by the Obasanjo administration but stated that the federal government at the time, rejected the agreement.

Sunrise is now seeking a compensation of $2.3bn, claiming it had spent millions of dollars on financial and legal consultants before the contract was jettisoned.

In its defence at the arbitration hearing, the Nigerian government is alleging fraud and corruption of public officials in the award of the contract.

[crimechannels]

By • Olalekan Fagbade No minister under me had the power to approve over N25m without my consent – Former President says Former President Olusegun Obasanjo has said no member of his cabinet had the authority to approve more than N25 million without his consent when he was leading the country between 1999 and 2007. Obasanjo said this in an exclusive interview with TheCable, while challenging the former minister of power and steel, Olu Agunloye, where he got the authority to award $6 billion contract to Sunrise Power and Transmission Ltd in respect of the Mambilla Hydropower Project in 2003. Sunrise Power is currently in arbitration with Nigeria at the International Chamber of Commerce (ICC), Paris, France, over an alleged breach of contract by the federal government. In the first arbitration, Sunrise demanded a compensation of $2.3 billion, claiming it had spent millions of dollars on financial and legal consultants before the contract was jettisoned. In the second one, the company asked for a $400 million settlement being the terms of the agreement it entered with the federal government in 2020 to end the arbitration. Reacting to this at the weekend with TheCable, Obasanjo said, “When I was president, no minister had the power to approve more than N25 million without express presidential consent. “It was impossible for Agunloye to commit my government to a $6 billion project without my permission and I did not give him any permission.” The ex-president further said, “If a commission of inquiry is set up today to investigate the matter, I am ready to testify. I do not even need to testify because all the records are there. I never approved it.” #approval #FormerPresident #Obasanjo

[naija247news]

Mambilla’s 13,000MWs stalled as Legal dispute hampers plans to access Chinese project funding

Mambilla’s 13,000MWs stalled as Legal dispute hampers plans to access Chinese project funding

Plan for giant hydropower plant dates back to early 1970s 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. accuses the government of reneging on a settlement accord agreed…

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[thisdaynews]

JUST IN:No Hope Of Stable Electricity In Nigeria Soon - Senate

New Post has been published on https://thebiafrastar.com/just-inno-hope-of-stable-electricity-in-nigeria-soon-senate/

JUST IN:No Hope Of Stable Electricity In Nigeria Soon - Senate

The upper chamber of the National Assembly, yesterday, dashed the hopes of millions of Nigerians to experience stable electricity supply in the country. The Senate said that going by the gross underfunding of the sector by the Federal Government, the power sector may remain in its current epileptic state for much longer.

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The prediction came just as the Minister of Power, Engr. Mamman Saleh, confessed to members of the Senate Committee on Power, that the much trumpeted $5.8 billion Mambilla Power Project was yet to take off.

The committee was also jolted by the submission of the Managing Director of Transmission Company of Nigeria (TCN), Engr. Sule Ahmed Abdulaziz, that out of N165 billion required for capital project in 2020, N4 billion envelope was given, out of which only N3 billion was cash backed. These revelations came at the budget defence session where key operators and stakeholders exchanged views with the Senate Committee on Power. Chairman of the Senate Committee on Power, Dr. Gabriel Suswam (PDP, Benue North East) and his team comprising Senators Shaibu Lau (PDP, Taraba North), Danjuma Goje (APC, Gombe Central), James Manager (PDP, Delta South) wondered why no dime was allocated for the Mambila project in the 2021 budget.

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Senator Lau, who hails from Taraba State, told the committee members that despite promises upon promises made on the project by the Federal Government on yearly basis, there is no access road to the project site and no indication of site clearance, talk less of possible ground breaking.

“Nothing in the proposed 2021 budget that concerns Mambilla, showing that there is no commitment from government. The truth about the project going by glaring realities on ground over the last 10 years is that Mambilla will not see the light of the day,” he said.

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In his response, the minister admitted that the project was yet to take off, but that he was still trying to convince Mr. President on it. According to him, special fund of $200 million earlier earmarked for the project was still in the office of the Chief of Staff while the N850 million expected from Nigeria as 15% of the contract sum was yet to be paid. The 85% balance of the contract sum, he added, is to be financed by the Chinese NEXIM Bank.

He explained that the 3,050 megawatts hydroelectric power project was designed to be the largest power generating plant in the country. Chairman of the committee and other members who were not pleased with the situation, said solution must be found to the Mambilla project as part of solutions to epileptic power supply in the country. Senator Manager, in particular, said going by the submission of the minister, there seemed to be no seriousness on the part of the government to get the project off the ground.

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Goje, a former Governor of Gombe State, said “the hope of getting stable power supply in Nigeria in the nearest future is dashed going by gross underfunding of the sector and lack of required seriousness on those managing the sector to get it fixed up.” However, in his submissions before the committee, the TCN MD said the transmission capacity of the country has increased from 5,000 megawatts to 8,000 megawatts.

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“Inadequate funding by government on yearly basis remains the major problem of the TCN and, by extension, the power sector. “In 2020 fiscal year, our projected money for capital expenditure was N165 billion, but we were only given N4 billion budgetary envelope out of which N3 billion was cash backed,” he said. The Mambilla hydropower project has a generation capacity of 3,050 Mega Watt (MG) when completed.

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The project is being undertaken by the Federal Ministry of Power with the help of a consortium of Chinese investors. Chinese Export Import (Exim) Bank is funding 85 per cent of the estimated $5.8 billion project cost, while the remaining 15 per cent funding will come from the Federal Government of Nigeria. The project will generate up to 50,000 local jobs during the construction phase.

[edisonashley]

FEC Approves N8.64bn For Siemens Power Deal

The Federal Executive Council (FEC) on Wednesday approved the release of €15.21 million (N6,940,081,465.20) offshore and N1.708 billion onshore, totaling N8,648,081,465.2 towards the counterpart funding of phase one of the power deal with Siemens AG, signed by the Nigerian and German governments.

The Minister of Finance, Budget and National Planning Hajiya Zainab Ahmed, briefed State House correspondents at the end of the FEC meeting presided over by President Muhammadu Buhari.

The Minister said the memo seeking the ratification was jointly presented by her Power Ministry counterpart, Saleh Mamman.

The minister said the memo was endorsed towards the counterpart funding for the bilateral agreement from German Consortium guaranteed by the German government through Euler Hermes to finance the implementation of the end to end grid modernization and expansion programme of the project.

In 2019, the Federal Government and Siemens signed a Letter of Agreement on the Nigeria Electrification Road Map after President Buhari and German Chancellor, Angela Merkel, met on August 31, 2018, in Abuja. The Nigerian electrification project has three phases and it aims at achieving 25,000 megawatts of electricity in the country by 2025.

Power projects in the budget include the 3,0500 megawatts Mambilla hydropower plant in Taraba State, for which N2 billion counterpart fund was set aside.

The minister said, “So, today at the council, we discussed the stage one of phase one of this power project under presidential power initiative.

“This project is designed to include 23 transmission initiatives as well as 175 separate transformative projects in the electricity distribution franchises that we in the country.

“The project will also support the regulator, Nigerian Electricity Regulatory Commission (NERC), to transition towards a programme of improving metering in the electricity industry in the country.

“Let me remind us as citizens that Mr President and his German counterpart met in Abuja on 31st August 2018 and committed to jointly increase the capacity of the Nigeria electricity grid from current capacity of 5,000 megawatts to 25,000 megawatts over a three phase programme.

“After this meeting, an MOU was executed on 23rd of July, 2019 between the Nigeria Government and Siemens AG with the German Government support. “The MOU is designed to deliver this end to end modernization programme which we are calling the presidential power initiative.

“The objective of this presidential power initiative is to address the intractable problems that have bedeviled the Nigerian power industry, over a period of years. “The project will be implemented in three phases and the subject of our memo today is phase one.

“The facility for the programme is to be sourced from the German Consortium and it would be guaranteed by the German government through Euler Hermes covering 85 percent of the project cost, the highly concessional facility with two to three years moratorium, 12 years repayment period with an interest rate of liabor plus one percent to liabor plus 1.2 percent.

“And also, the Federal Government is to provide 15 percent counterpart funding as its contribution towards the project.

“We have a provision in the 2020 appropriation revised for the government’s counterpart funding.

“The federal government is taking the loan from the German government with the plan to on-lend this particular loan to the distributing network.

“So, it’s a convertible loan facility to the DISCOs and we will be working with the DISCOs to restructure an appropriate loan agreement as soon as we are able to close out on this initial phase of the process. “And council approved and ratified Mr. President’s approval. “

The post FEC Approves N8.64bn For Siemens Power Deal appeared first on Lawyard.

FEC Approves N8.64bn For Siemens Power Deal published first on https://immigrationlawyerto.weebly.com/

[beardedpersonkideclipse]

It was gathered in Abuja on Monday that while the Federal Government had made payments for survey works and sensitisation of the affected communities, it had yet to make progress on the project due to the non-payment of compensation.

[goldmynetv]

China has said she won’t fund Mambilla power until Nigeria settles legal dispute

China has said she won’t fund Mambilla power until Nigeria settles legal dispute

The Chinese government has asked Nigeria to settle the legal dispute over the $5.8 billion Mambilla power failing which it would not provide the funds for the project.

In 2006, the China Gezhouba Group Corporation of China (CGGC) and China Geo-Engineering Group Corporation (CGCOC) had won the bid for a joint venture to execute the hydropower project with a proposed capacity of 3,050 megawatts…

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[tarabastate]

Mambilla Hydro Power: Gov. Ishaku Impressed with Federal Government's Resolve Towards Project

Mambilla Hydro Power: Gov. Ishaku Impressed with Federal Government’s Resolve Towards Project

The Mbondua Mbamnga, HRH Amb. Dr. Emmanuel Q. Njiwah delivering his speech on behalf of all the Cheifs present.

As top leaders from Taraba state converged in Abuja to discuss the way forward in the actualization of the Mambilla Hydropower dam project, Taraba state Governor, Arc. Darius Dickson Ishaku said the sensitization meeting was organized by his administration to demonstrate the state’s…

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#Gov. Ishaku #Latest News #Mambilla hydro power project

[sweetbananaperfection]

FG Seeks $5bn Chinese Loan For Mambilla Power Project

FG Seeks $5bn Chinese Loan For Mambilla Power Project

Nigeria has formally requested for loan from China Exim Bank to build the 3,050 megawatts (MW) Mambilla hydropower generation plant, whose construction was billed to gulp $5.8 billion, THISDAY has learned.

It was gathered from the officials of the Ministry of Power during a presentation to the new Minister of Power, Mr. Saleh Mamman, and the Minister of State, Mr. Goddy Jedy-Agba, that the…

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#FG Seeks $5bn Chinese Loan For Mambilla Power Project

[chibykeofficial]

FG Seeks $5bn Chinese Loan For Mambilla Power Project

FG Seeks $5bn Chinese Loan For Mambilla Power Project

FG Seeks $5bn Chinese Loan for Mambilla Power Project editorAugust 26, 2019 6:08 Am Chineme Okafor in Abuja

Nigeria has formally requested for loan from China Exim Bank to build the 3,050 megawatts (MW) Mambilla hydropower generation plant, whose construction was billed to gulp $5.8 billion, THISDAY has learnt.

It was gathered from the officials of the Ministry of Power during a presentation to…

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[gistabout]

Mambilla hydropower project, major priority on The Next Level Agenda — Buhari

Mambilla hydropower project, major priority on The Next Level Agenda — Buhari

By Femi Bolaji

Jalingo—President Muhammadu Buhari has said the completion of Mambilla hydropower project is one of the key projects on his Next Level Agenda, if reelected president come February 16, 2019.

President Muhammadu Buhari

He said the neglect of the power generation project, which has since been neglected by previous governments, has made the priority list of his administration,…

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[juliestacy]

Buhari to Tarabans: I will complete Mambilla hydropower project

Buhari to Tarabans: I will complete Mambilla hydropower project

(more…)

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