A former Minister of Power, Dr. Olu Agunloye, was yesterday re-arraigned before a High Court of the Federal Capital Territory (FCT) in Apo on a seven-count amended charge the amendment made by the Economic and Financial Crimes Commission (EFCC) filed against him.

Agunloye pleaded not guilty when the charge bordering on forgery, disobedience of a presidential order and corruption on the 3,960 megawatts (MW) Mambilla Hydroelectric Power Station in Taraba State, was read to him by a court official.

The prosecution alleged, among others, that the former minister received N5.212 million from Sunrise Power and Transmission Company Limited (SPTCL) and Leno Adesanya through Jide Abiodun Sotinrin.

The money was allegedly paid into Agunloye’s Guaranty Trust Bank account for conveying the Federal Government’s approval for the construction of the power station in favour of SPTCL while serving as minister.

Testifying yesterday, the second prosecution witness (PW2), Adewale Agunbiade, a Compliance Officer with Jaiz Bank Plc (formerly with GTBank), said he neither knew the defendant personally nor had any special interest in the case.

Agunbiade said despite having left GTBank, he was not surprised when the EFCC invited him in May 2023 to write a statement on the case.

The witness, who was cross-examined by defence lawyer Aseola Adedipe (SAN), said when he informed the EFCC that he had left GTBank, he was told that it did not matter since he prepared the documents on the court’s proceedings.

He confirmed the bank statement of Jide Abiodun Sotinrin, who paid money into Agunloye’s account on August 10, 2019, October 22, 2019, and November 13, 2019.

Agunbiade said the transactions were about individuals’ transfers, explaining that the transfer of money was from one individual customer of GTBank to another individual customer of the same bank.

The witness explained that the transfer of N3.6 million by Sotinrin to Agunloye’s account did not reference that it was made on behalf of either Leno Adesanya or Sunrise Power and Transmission Limited.

The Federal Executive Council (FEC) has approved N1.04 trillion for critical infrastructure projects nationwide, including major roads and bridges across states and key developments in the Federal Capital Territory (FCT), Abuja.

The approvals, granted during the FEC meeting presided over by President Bola Ahmed Tinubu at the State House, Abuja, yesterday, cover 10 major projects under the Federal Ministry of Works and five significant  others in the FCT.

For the Federal Ministry of Works, Council allocated N885 billion for the building and rehabilitation of key highways and bridges across the country.

Minister of Works, David Umahi, announced the approvals, highlighting the government’s commitment to durable road infrastructure, particularly through concrete construction.

One of the largest projects approved is the rebuilding  of three sections of the Lokoja-Benin Road, a crucial trade corridor.

The project will be executed in concrete, with Section I (Obajana to Benin) costing N64 billion, Section II (Auchi to Edo) at N110 billion, and Section III (Benin Airport to Edo) at N131 billion.

The total cost for this projects stands at over N305 billion.

Another major project is the Lagos-Calabar Coastal Highway, which will span 130 kilometers of dual carriageway from Calabar through Akwa Ibom.

The highway, valued at N1.334 trillion, has been divided into multiple sections for phased construction, with ongoing work already progressing in Lagos and Ogun states.

The minister also said the Abuja-Kano Highway has been restructured, with N252 billion allocated to its development.

Section 1 extends from the FCT boundary to Niger State with an additional 5.71 kilometers, while Section 3 in Kano State has an expanded scope of 17 kilometers.

The 118-kilometer road will be built using concrete and will feature solar lighting installations.

FEC also approved the reconstruction of access roads to the Second Niger Bridge in Delta and Anambra states.

The Delta section will be constructed in concrete for N470.9 billion, while the Anambra section will cost N148 billion.

Other key approvals include N22 billion for the Onitsha-Owerri Expressway, N18 billion for the Musasa-Jos-Kaduna Road, and N12.75 billion for the rehabilitation of the Abia-Enugu road.

In Lagos, N3.571 billion has been approved for a comprehensive structural evaluation of the Third Mainland Bridge and Carter Bridge.

The assessment will focus on examining underwater piles and determining solutions to prevent  deterioration.

Another crucial approval is the continuation of the Lagos-Ibadan Expressway (Phase II, Section I), with a budget of N195 billion.

Umahi reaffirmed the government’s commitment to cost-effective infrastructure, emphasising that transitioning major roads to concrete construction will ensure greater durability and long-term savings.

“By adopting concrete for key sections, we have saved significant costs compared to previous projections,” he said.

He also addressed concerns over delays and road quality, particularly on the Abuja-Lokoja Road, saying that contractors have been directed to fix faulty sections.

“We are not accepting excuses such as high temperatures for road failures. The affected sections are being redone with proper oversight,” he added.

Council has also approved N159.5 billion for five major infrastructure projects aimed at improving road networks, transportation, and estate access across the FCT.

Minister of State for the FCT, Dr Mariya Mahmoud Bunkure, broke the news after the FEC meeting. She emphasised  the government’s commitment to enhancing mobility and socio-economic activities in the capital city.

Among the key projects approved is the construction of a bus terminal at Mabushi, located in Cadastral Zone Plot B06, Phase II of the Federal Capital City.

The N30.97 billion contract was awarded to Setraco Nigeria Limited and is expected to be completed in 18 months.

The government has also allocated N62.5 billion for the construction of Arterial Road N1, which will connect Wuye District to Ring Road II.

The project, awarded to Arab Contractors Nigeria Limited, is expected to be completed within 20 months.

Another major approval is the construction of the Kuje-Gwagwalada dual carriageway, a key route connecting satellite towns.

The contract, valued at N7.5 billion, was awarded to Gilmo Engineering Nigeria Limited.

The Council also approved N26.87 billion for the rehabilitation of the Old Keffi Road, a 15-kilometer stretch linking Kado Village to Dei-Dei and connecting to the Outer Northern Expressway Junction.

The contract was awarded to Lubric Construction Company Limited and is expected to be completed in 18 months.

Additionally, FEC approved N31.66 billion for the building of an access road to the Renewed Hope Cities and Estate Project in Karsana West District, Abuja.

Lubric Construction Company Limited will handle the project, which is also scheduled for completion within 18 months.

Bunkure emphasized that these projects will significantly improve connectivity and ease transportation within the FCT, benefiting both residential and commercial areas.

“The projects will enhance mobility, boost socio-economic activities, and provide improved access to residential and commercial developments within the FCT,” she said.

She added that the contracts would be closely monitored to ensure timely completion and adherence to quality standards.

The Federal Government has informed the World Bank of its desire to reduce Nigeria’s dependence on external debt financing.

This is part of a broader strategy to explore alternative funding sources beyond traditional multilateral loans.

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made this disclosure during a meeting with the World Bank Executive Director, Dr. Zainab Shamsuna Ahmed.

He reiterated the government’s focus on fostering a business-friendly environment that attracts sustainable investments and drives private sector-led growth.

Dr. Ahmed, who is the immediate past Minister of Finance, commended Nigeria’s macroeconomic reforms, noting their role in improving fiscal stability and boosting investor confidence.

She also pointed out the recent financial reforms at the World Bank that have expanded its lending capacity, making an additional $150 billion available over the next decade.

One of the key topics discussed was Nigeria’s role in Mission 300, the World Bank’s initiative aimed at providing electricity access to 300 million Africans. Edun insisted on Nigeria’s commitment to the programme, stressing that improved power infrastructure is crucial for economic growth, industrial expansion, and enhancing private sector competitiveness.

The Minister assured the World Bank that President Bola Tinubu remains focused on strengthening Nigeria’s economic foundation, reducing reliance on external borrowing, and promoting long-term economic growth through private sector investments.