Would President Tinubu break Mambilla power jinx?
As events unfold in the Renewed Hope administration of President Bola Ahmed Tinubu GCFR, it is quite clear that he is a dogged fighter who takes firm decisive decisions without bothering about whose ox is gored. The Mambilla hydro project, however, has a funny twist to it, which requires focus on the nation’s development as […]
As events unfold in the Renewed Hope administration of President Bola Ahmed Tinubu GCFR, it is quite clear that he is a dogged fighter who takes firm decisive decisions without bothering about whose ox is gored.
The Mambilla hydro project, however, has a funny twist to it, which requires focus on the nation’s development as its first priority.
The core fundamental issue is the funding, expertise and execution. With very challenging economic times, external funding can be most useful, especially for a very critical project of this magnitude and its economic benefits to this great nation.
The Chinese are prepared or ready to provide funding and expertise to the tune of $4.5 billion but have given a condition that the federal government settles the local content pioneer of the project Sunrise Power Transmission Company Limited (SPTCL).
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Whilst a settlement was reached under the directive of former President Muhammadu Buhari initiated by his late Chief of Staff Abba Kyari, both the minister of justice and minister of power went into a legally binding settlement with Sunrise and its chairperson Mr. Leno Adesanya.
Unfortunately, the government failed to fulfill the terms of the agreement as a result of no funds as directed in a memo from the then president to his minister of justice.
Till date, chairman Sunrise has reached a second resolution to either get settled directly by the government or have the statutory 15 per cent contribution by government made to the Chinese to enable them settle Sunrise directly and move on with the project execution.
Unfortunately, some elements in the department of justice have taken it upon themselves with a foreign legal firm to charge the government hourly in dollars to fight Sunrise with the sole aim of discrediting the company and indicting its chairman for perceived inducement of government officials.
The focus for President Bola Ahmed Tinubu on the project is: would the Chinese, who are coming to fund the project, overlook Sunrise Power Company whom they have given conditions for settlement? The answer is capital No. It then becomes incumbent on President Bola Ahmed Tinubu, to ensure an immediate settlement out of court.
Proceeding with this viable project guarantees 50,000 jobs and other economic spillovers and long term renewable energy for the North East region and the country at large.
Ibrahim Mustapha Pambegua, Kaduna State.