The Federal Government of Nigeria
has announced that it has awarded a
$5.8 billion contract to build what
will be the largest power plant in the
country.
According to reports, the 3,050-megawatt
Mambila hydroelectric power project in Taraba
State will be delivered by a consortium of
Chinese state-owned construction firms.
The mega-project will feature four dams between
50 and 150 meters tall, and take six years to
complete, the Minister of Power, Works and
Housing, Babatunde Fashola, told reporters in
Abuja.
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The Chinese Export-Import Bank will finance 85%
of the development, with the Nigerian
government contributing 15%.
Minister of Power, Works and Housing,
Babatunde Fashola
Minister Fashola claimed the project will deliver
far-reaching benefits.
“(Mambila) will have a transformational effect on
all of Nigeria’s socio-economic development,” he
said through a government spokesman, “It will
have considerable positive impact on electricity
supply nationwide, productivity, employment,
tourism, technology transfer, rural development,
irrigation, agriculture and food production.”