The Federal Executive Council (FEC) has approved the construction of Mambilla Hydro-Electric Power Plant to the sum of $5.792 billion.
This was announced during the FEC meeting which was held yesterday at the council chamber in Abuja.
The Minister of Power Babatunde Fashola disclosed that the construction of four dams required for the project would take seventy two months.
Nigeria is expected to provide 15 percent counterpart funding in the joint venture agreement with China.
The Federal Government has also signed a Gas Sale Aggregation Agreement that will ensure 74 million standard cubic feet of gas gets to consumers in the country.
Meanwhile President Muhammadu Buhari has arrived his hometown, Daura in Katsina State for the Eid el-kabir celebration.
President Buhari was received in his country home by the Governor of Katsina State, Aminu Masari, among other dignitaries.
The president made the trip shortly after presiding over the Federal Executive Council meeting.