Chinese EXIM Bank for the Gurara II Hydropower project which has the
capacity to generate 360 megawatts electricity.
Minister of Water Resources, Sulieman Adamu, said the approval was part
of the four memos the council approved for the ministry. The Debt
Management Office said had last month disclosed that Nigeria’s total
debt profile as of December 31, 2018, now stands at N24.387 trillion.
The figure swelled by 12.25 per cent from N21.725 trillion in 2017 to
N24.39 trillion in 2018. The debt rose by N2.66 trillion from December
31, 2017, to December 31, 2018, the Debt Management Office said.
Statistics provided by DMO showed that the country’s public debt rose
from N21.73 trillion in 2017 to N24.39 trillion within the one year
Council also approved the sum of N5.7 billion revised total estimated
cost for the completion of Nkari dam in Akwa Ibom. It also approved the
appointment of a consultant for the resuscitate of the Gari Irrigation
Project in Kano/Jigawa States.
Council had in 2017 approved for the resumption of the project which was
earlier abandoned for 17 years.
The consultant is the same appointed in 1998 when the project first
began. Adamu said the contractors are already on site. Council also
approved the revised estimated total cost of N10.4 billion for the
completion of Ile Ife Dam in Osun State.
The project which was started in 2004 and abandoned, has completion
period is 24 months.