Tuesday, 8 September 2015

AT LAST! SEE The Cosmic Sum Spent On Power Sector From 1999

The Senate was informed on Tuesday about a colossal amount of money invested in Nigeria’s power sector since 1999 – yet little result of those investments is visible.

The Senate was informed on Tuesday that a total of N2.74 trillion has been invested in Nigeria’s malfunctioning power sector from 1999 to date.

The figure was disclosed by Godknows Igali, the Permanent Secretary of the Ministry of Power, and James Olotu, the managing director of the Niger Delta Power Holding Company before the Senate committee headed by the APC senator Abubakar Kyari of Borno North probing the huge expenses in power sector since 1999 to this date.

It turned out that the investments were made during Olusegun Obasanjo’s rule, late President Umaru Yar’Adua’s era and, most recently by Goodluck Jonathan’s administration.

At the same time not a single power plant’s construction had been financed earlier, from 1991 to 1999. The senator were told that the inflow of investments from the government to the power sector was inconsistent even from 1999 and later.

The Nigerian Senate on Thursday, August 13, set up a 13-member committee to investigate the management of funds directed to power sector since 1999.

Abubakar Kyari was appointed the head of the body, which possesses a two-week mandate to carry out the probe and file the report to the Red Chamber.

The development means that the investigation would cover the presidential tenures of Olusegun Obasanjo, Umaru Yar’Adua and Goodluck Jonathan.

A year ago the Federal Government and the United States of America have entered into partnership to build a 1,500-megawatts power plant as part of effort to boost the nation’s power sector.

Six months ago Goodluck Jonathan has spoken about his 6 years in government and the changes he has brought to the power sector within the short period, claiming he fulfilled his promises to boost energy supply in Nigeria.