Former Senator Shehu Sani has brought light on the massive amounts of money lost by the federal government by highlighting the top eight abandoned projects in Nigeria in a recent remark made on his official X handle. CONTINUE FULL READING>>>>>
He outlined the circumstances behind these projects in a recent statement and urged the appropriate authorities to act quickly to resolve the matter.
Topping the list is the Ajaokuta steel mills, with an eye-watering $8 billion already spent but yielding no tangible results.
This project, intended to boost Nigeria’s steel industry, has languished in a state of neglect for years, despite huge financial investment.
Following closely is the Mambila Hydro Power plant, where a staggering $5.8 billion has been squandered without seeing the project come to fruition.
This hydroelectric facility, which holds the potential to address Nigeria’s energy needs, remains unfinished, casting a shadow over the country’s energy ambitions.
The Brass LNG project, initially projected to cost $10 billion, has become a thing of controversy, with the Nigerian National Petroleum Corporation (NNPC) disputing the actual amount spent, claiming it to be $1.9 billion.
Regardless of the gaps, the project stands as another bad example of funds being poured into ventures that have failed to materialize.
Other projects on Sani’s list include the Abuja CCTV project, which has seen $460 million vanish into thin air, and the Rivers State monorails, where $400 million has been expended with little to show for it.
The dredging of River Niger, despite costing N34 billion, remains incomplete, raising questions about the effectiveness of government spending.
Similarly, the Katsina Windmills project, which has consumed N4.4 billion, and the TINAPA resort, with $350 million spent, underline the continuous issue of abandoned projects across Nigeria. CONTINUE FULL READING>>>>>
