NIGERIA’S President Olusegun Obasanjo says the bulk of some $800m looted by late military ruler Sani Abacha and his associates and since recovered will be used for development. The amount will go into the federal government budget for 2001 expected to be presented this week to the National Assembly, an official statement from the presidency said. The recovered funds will be used to finance the rehabilitation of the nation’s erratic power generation, transmission and distribution system. Obasanjo said that his government was still vigorously pursuing its effort to recover all the money looted from the country in the past. – AFP