The Senate has directed its standing committees on appropriation, power, and finance to investigate the entire Mambilla Hydro Electric Power Project (MHEPP) $5.792billion contract transaction from 1999 to date.
It also expressed concerns over the inability of the project to come to fruition since its conception.
The resolution of the Senate followed its consideration and adoption of a motion sponsored by PDP lawmaker representing Taraba Central, Haruna Manu during plenary on Thursday, July 4.
In his lead debate, Senator Manu highlighted the benefits the country stands to gain by the time the project becomes functional in terms of complementing the national grid, job creation, industrialization, and tourism potentials for the region and Nigeria in general.
He said, “The federal government through the Federal Ministry of Power signed a contract with a consortium of Chinese contractors comprising CGCC and CGOC in 2017 to construct 3,050 megawatts of hydroelectric power project known as the Mambilla Hydroelectric Power Project in Taraba state at the sum of $5.792billion.
He informed the Senate that the Federal Executive Council under Buhari’s administration approved the said contract with an agreed JV funding structure of 85% from the Chinese consortium (CGCC-45%, SHC-35% and CGOC-20%) and 15% from the federal government of Nigeria as counterpart funding for the entire project with a 72 months construction period and on a site area of over 146sqkm in Kurmi, and Sardauna Local Governments of Taraba state.”
Reacting to the resolve of the red chamber to carry out the probe, other lawmakers lauded the Senate for rising in defence of the Mambilla hydroelectric power project with the view to ensuring that the project is complete.
