Nigerian Billionaire Launches Airport, Hotel as FG Hands Over Power Station in Nigeria
- The federal government has formally given the Kashimbila Dam to former Defense Minister Theophilus Danjum
- This means the Kashimbila Dam, formerly a federal project, is now managed by a consortium led by Danjuma's company
- Danjuma built a five-star hotel and converted the airstrip the missionaries had built in Kashimbi into an airport
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
Former Defense Minister Theophilus Danjuma's private company, KP Hydro Limited, has officially received the Kashimbila Dam from the federal government.
Source: UGC
On Saturday, the handover was held at the Dam site in Kashimbila, Taraba State's Takum Local Government Area, Premium Times reported.
Once a federal project, the Kashimbila Dam is now run by a consortium headed by Danjuma's business.
PAY ATTENTION: Legit.ng Needs Your Help! Take our Survey Now and See Improvements at LEGIT.NG Tomorrow
Legit.ng reported that apart from producing electricity, the dam is anticipated to develop the area into a tourist destination featuring a five-star hotel and an airport.
Originally built by the Goodluck Jonathan administration to stop flooding brought on by Cameroonian water discharges, the Kashimbila Dam has grown to be an essential source of renewable electricity for Taraba State.
It is anticipated that the 40 megawatt hydroelectric power station will improve the availability of electricity and spur economic expansion.
Hotels, airport now part of project
When the federal government started the project, it did not include the hotel, the airport, or an abandoned airfield.
But the billionaire's company was given the Hydro energy project by the federal government, Danjuma transformed the airstrip that the missionaries had constructed in Kashimbi into an airport. He constructed the five-star hotel as well.
Speaking during the event, Sola Arifayan, Managing Director of KP Hydro Limited, stated that a concession agreement was used to start the handover process in order to increase Nigeria's potential for renewable energy.
He thanked the host community and looked forward to the plant's continued growth, attributing this accomplishment to diligence and tenacity.
He assured the community of KP Hydro’s long-term commitment, stating, “We are here not just to do business but to be a part of this community’s growth.”
TY Danjuma builds multimillion naira hospital
Legit.ng reported that former chief of army staff and billionaire oil magnate Theophilus Danjuma has inaugurated a multimillion-naira medical facility in Enugu, Goodwill Medical Centre (GMC).
The billionaire said the medical facility is for the rural poor in the state.
Located at Umuchigbo, Iji Nike in Abakpa Nike Community in Enugu East Local Government Area, the TY Danjuma Foundation fully funds the facility.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Source: Legit.ng
