National Assembly to get $62m from borrowed $16.2b for 17MW solar power plant

The National Assembly is set to received $62 million for the building of a solar power plant.

The money to be so disbursed for the 17MW hybrid solar power project is to be sourced from the $16.2 billion loan the President Muhammadu Buhari-led administration is to borrow from international bodies.

The $16.2 billion loan request was approached by the National Assembly on Wednesday, during plenary.

Details of the power plant project were contained in a report made available to the News Agency of Nigeria (NAN).

Part of the report read, “The committee notes that the Project includes, but not limited to construction of 17MW hybrid solar power plant for the use of the National Assembly Complex, Abuja.

“The committee notes that the contract was awarded to SEPCOIII Electric Power Construction Co Limited and NEWTECH Global Network Limited as the Consortium at a total value of $60,120,000.“

On the $100m loan for the Ministry of Women Affairs, “the Committee notes that the project is intended to support livelihoods for 324,000 women over the age of 18 years in targeted local Governments in Abia, Kebbi, Niger, Ogun and Taraba states.

“The committee notes that each participating state receives $15m but Edo State declined participation in the project leaving five states instead of six.

“The committee notes that the objective is to assist women enhance household income through grants and to meet specific life cycle needs and to mitigate some household expenses.

“The committee further notes that the affected states have executed a Subsidiary Loan Agreement with the Federal Ministry of Finance, Budget and National Planning for the lending agreement.”

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