The Republic
Oil Boom — Spending

Buhari II2017Documented failure· $5.8bn FEC approval· Chapter I · Money

Mambilla Hydropower (3,050 MW)

First conceived 1972. Contract awarded 2017 to Chinese consortium. International arbitration with Sunrise Power (Kano) outstanding; project not commenced.

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FEC approved a $5.79bn contract to a CGGC/Sinohydro/CGCOC consortium for the 3,050 MW Mambilla project in November 2017. Sunrise Power (Leno Adesanya) commenced ICC arbitration claiming wrongful displacement. As of 2024 no civil works had commenced.

What it cost — political & economic reality

The political and economic reality

Nigeria in 2017: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period.

President · Fourth Republic

Muhammadu Buhari

2015–2023· APC

National reality

Two recessions (2016, 2020). Multiple naira devaluations. ASUU strike of 2022 closed federal universities for ~9 months. End SARS protests (Oct 2020); Lekki Toll Gate incident. Out-of-school children >18 million by 2022.

Crises of the period

  • 2016 recession + FX crisis
  • End SARS + Lekki Toll Gate (Oct 2020)
  • COVID-19 lockdown (2020)
  • 9-month ASUU strike (2022)
  • Naira redesign chaos (Q1 2023)

GDP (World Bank)

$494 bn (2015) → $477 bn (2022)

Cabinet (selected portfolios)

  • Finance

    Kemi Adeosun (2015–18); Zainab Ahmed (2018–23)

  • Justice (AGF)

    Abubakar Malami (SAN)

  • Education

    Mallam Adamu Adamu (2015–23)

  • Petroleum

    Muhammadu Buhari (concurrent); Min. of State Ibe Kachikwu then Timipre Sylva

Sources · Federal Gazette 2015–23 · CBN · NBS

Methodology

Tier 1 · primary

Courts. Gazettes. National archives.

Tier 2 · corroborating

OCCRP. HRW. BudgIT. TheCable.

Tier 4 · tertiary, flagged

Wikipedia only where primary is pending. Always labelled.