Contrary to what mischief makers and OBJ detractors would like the Nigerian public to believe the truth is finally out:

As the House of Representatives continues to dilly-dally over its power probe report,  fresh facts emerged in Abuja on Tuesday that contrary to claim that about $13 billion was squandered by the Obasanjo administration on the power sector, only about $3.08 billion was actually expended.
This indication was from a summary presentation on the National Integrated Power Project (NIPP) presented to the National Economic Council (NEC) by the Governor Gabriel Suswam of Benue State.
Suswam, on behalf  of the Presidential Review Panel on the NIPP set up by the NEC, said the panel found that as at 2007, total project allocations/ estimates to NIPP was $10.231 billion inclusive of the $2 billion Federal Government counterpart funding for Mambilla Hydro Power project and $1.4 billion for additional nine turbines.
According to Suswam, out of these commitments, only $3.08 billion was funded and scrutinised with advance payment guarantees from “first class” Nigerian banks and Letters of Credits issued by the Central Bank of Nigeria (CBN). He said over $1.5 billion of the sum is still in the custody of the banks.
The report also said there is an ongoing comprehensive review exercise taking place to determine the most up-to-date estimates of costs to complete the project. This is in view of the cost over runs arising from over 18 months of delay and stall in funding.
Suswam, in his report, also identified intermittency and stoppage of funds as among the factors that helped to frustrate the implementation.
Lack of thorough feasibility studies was also fingered as being responsible for the several challenges of the project in the area of transportation, water supply and transmission connections to the sites.
There was also what the report called “slow pace of surveys, enumeration work and payment to land owners has impacted on site development. The project also lacked clear and defined ownership structure/agreed responsibilities and it has resulted in a dis-jointed and uncoordinated project implementation”.
For a new approach in the project, Suswam advocated the need to undertake comprehensive studies of the project strengths and weaknesses as well as rekindle federal and state governments’ interests in the project as shareholders on the investment.
He underscored the importance of good funding to complete the projects in order to realise the full value.
The report also recommended that the project should be executed under a new management structure and pragmatic and dynamic implementation scheme and efforts should be made to eliminate project bottlenecks through stakeholders’ participation.
The report said after due deliberations, the committee  agreed that completing the project as initiated is the right way to go as it would be the only sure way to improve Nigeria’s power supply logjam and free its citizenry and businesses from the shackles of darkness.
On the funding procedure henceforth, the committee recommended that $5.237 billion be provided through the interaction/cooperation of the federal and state governments.
The committee also suggested the legitimising of fund allocations from the Excess Crude Savings Account by securing appropriations by the National Assembly and state Houses of Assembly.
Among the terms of reference of the panel headed by Vice-President Goodluck Jonathan and governors drawn from the six geo-political zones as members included how to meet the 6000mw estimated by the government by 2009 and to recommend appropriate utilisation of government’s $5.3 billion.
Yar’Adua had last year ignited the debate when he disclosed that over $10 billion was spent on power by the previous administration with nothing to show for it.
The Speaker of the House Representatives, Dimeji Bankole, followed suit by saying the sum was over $16 billion, while the House power probe committee Chairman, Hon. Ndudi Elumelu, gave a figure of $13 billion.
Almost one year after the motion for the probe was moved by the House Minority Leader, Hon Ali Ndume, the report is yet to be debated many months after it was submitted by the committee.

Source: http://www.thisdayonline.com/nview.php?id=137931

So the OTTA rabbies infested swine chopped the rest?

He certainly did not chop anything, isn't it now obvious that all the stories being bandied around were just calculated attempts to discredit the man by his detractors?

The power probe has been heavily compromised. How come d probe report has not seen the light of the day since about 1 year of inception.

They initially said 10 billion dollars, somebody said it was six billion, later Bankole said na 16, Elumelu and his panel said 13 billion dollars,

Can somebody really tell us how much

Lagosboy:

The power probe has been heavily compromised. How come d probe report has not seen the light of the day since about 1 year of inception.

The power probe it self was just a charade in the first instance, there was nothing reallly wrong wiith the power project until that mumu (yar'dua ) stalled it when he came into power. The power plants were in various advanced stages of completion by the time OBJ left power what was left was for yar dua to complete it after promising us power emergency but as at today baba go slow is still follwing "due prrocess and rule of law" almost two years after he came into power

hhhaaaaaaaaaa
abeg obj make u bring back our money

The rest OF THE FUNDS DEY WITH IYABO

Some of us have maintained that OBJ ranks highest when it comes to solving out power problem right from when he first came to power in the late 80's.

Unfortunately, we live in a country where rumors, lies, misinformation and fabricated stories are believed and trusted over facts, logic and common sense.

Even Yar'adua sacked his adviser for trying to correct the lies being told about the power project and supported by the ignorant law makers that clearly didn't understand basic EPC projects based on the embarrassing questions and conclusions they came out with.

There is serious problem in this country and even educated Nigerians are ever ready to swallow the many lies being fed us by the corrupt few in position of authority, what a shame.

na wa oo some people still believe there was no stealing of public funds in the power project when it was discovered that most contractors collected money without executing the projects some even collected as much as 75% mob fees, which of the extant rules says govt should pay 75% mob fee? when the procurement act itself specifies 15%, stealing is not about how much that was involved even if it is N1m must they steal? in the name of executing public projects? whether it is 16b or 2b, govt funds should be judiciously utilised for the benefit of the people.

i think dollar is the name of money used in the usa by americans. can someone please in the interest of nigerians convert this dollar into our own money naire.
according to ribadu and obj, abacha is till date the only corrupt president nigeria has known and since the death of abacha, nigeria has been moving smoothly without corruptions. all our funds have been proparely managed by the good presidents.
how mad is it that ppl celebrate our criminals.
obj after his tenure in an interview regrets fixing our power supply and some of us cannot even define regrets.
paid labourers.

despite the fact fact that it as now been established that the power probe was just a charade and a cover for yar'adua's incompetence and deliberate slow down of the power projects the press as only given it this development minimal coverage unlike last year when they were shouting blood murder over nothing. Yar'adua as succeeded in slowing down the laudable power sector reforms started by OBJ. At the end of it all the same contractors handling the projects before are now being mobilized back to site to complete the projects at a higher cost due to cost overuns occassioned by the delay

Is N3.08Million small money? even if it is N100,000 of government money that is not well utilized,
heads should role.

Is N3.08Million small money? even if it is N100,000 of government money that is not well utilized,
heads should role.

@deb,
we are talking abt $ and not naira.
it was according to the poster only $3.08 billion dollars. the most interesting spect of it is the only which is common when talking about money no matter how much is involved.[/color][color=#990000][/color][color=#990000][/color]

despite the fact fact that it as now been established that the power probe was just a charade and a cover for yar'adua's incompetence and deliberate slow down of the power projects the press as only given it this development minimal coverage unlike last year when they were shouting blood murder over nothing. Yar'adua as succeeded in slowing down the laudable power sector reforms started by OBJ. At the end of it all the same contractors handling the projects before are now being mobilized back to site to complete the projects at a higher cost due to cost overuns occassioned by the delay

[color=#006600]@KunleOshob,
i still wonder what is difficult in convert $3.08 billion only to naira only.
for the first time, someone from obj's camp is saying yar adua is incompetent. i do not think obj will be happy to hear you say that. obj the wisest man in nigeria looked arround and carefully picked the only man who he feels can handle nigerians in his absence and someone here is calling yar adua incompetent.
please, tell us how yar adua become the president of nigeria. please remind me of how saint obj picked and forced yar adua on nigerians with the help of hi dog(ribadu).
please let us know who the blame will go to.
in praising God for the $3.08 billion spent by obj on power, please praise God for other sectors where billions of dollar alike were spent without result.

There is serious problem in this country and even educated Nigerians are ever ready to swallow the many lies being fed us by the corrupt few in position of authority, what a shame.

@afam,
the lies and truthfulness of our situations are obvious as they are reflected in our power supply, state of our roads, security, health etc.
what will a nigerian say against obj when it comes to communication. his efforts are obvious and nobody is interested on how much he spent to give us what we want. no nigerian will complain when any govt spends $5 trilon to give us power.
many of us use our roads and will have no choice than to complain with their conditions.
the cries of nigerians are based on spending without results.
obj is on the lips of every nigerian because to whom much is given, much is expected. the only nigerian who enjoyed the benefits of been a president for eight uninterupted years. i will tell you that 8 years is enough to start a project and get it to tangible position if not finished.
how long did it take obj to bring communication to nigeria?

tony annenih, obj's partner in crime is now the npa chairman. achike udenwa, former gov of imo state and the first gov to endorse third term agenda is now a minister.
marwa who was forced to drop his presidential ambition to support yar adua or face efcc is now an ambassadore so we are progressing.

@deb,
we are talking abt $ and not naira.
it was according to the poster only $3.08 billion dollars. the most interesting spect of it is the only which is common when talking about money no matter how much is involved.

Man! Thanks for the correction, it was a typo. I meant to type $ not Naira

You guys have been thoroughly brainwashed by the Nigerian media, the fact still remains that the largest ever power project(11 power plants + several transmission stations) in the history of this country was initiated by OBJ even though he did not have enough time to complete it due to the fact that he started late. he started late becos it took a while to realize how enonormous the problem was due to mis-information from NEPA. However he was able to complete three of the eleven power plants he started, however they are not being fully utilized due to gas supply problems occassioned by the niger delta militia. The other 9 power staations are in various advanced stages of completion contrary to the lies that idiot ndudi elumelu was spewing out to Nigerians. Most of the equipment needed to complete this power projects are already on ground in the country(that accounts for the money released) only awaitng installation which is being delayed by yar'adua witholding funds for the completion of the projects. If yar'adua had not stalled this power project we would have been enjoying power 24/7 as at a year ago. Yet people find it convinient to blame the great patriotic nigerian that initiated this power projects

humm.

You guys have been thoroughly brainwashed by the Nigerian media, the fact still remains that the largest ever power project(11 power plants + several transmission stations) in the history of this country was initiated by OBJ even though he did not have enough time to complete it due to the fact that he started late. he started late becos it took a while to realize how enonormous the problem was due to mis-information from NEPA. However he was able to complete three of the eleven power plants he started, however they are not being fully utilized due to gas supply problems occassioned by the niger delta militia. The other 9 power staations are in various advanced stages of completion contrary to the lies that idiot ndudi elumelu was spewing out to Nigerians. Most of the equipment needed to complete this power projects are already on ground in the country(that accounts for the money released) only awaitng installation which is being delayed by yar'adua witholding funds for the completion of the projects. If yar'adua had not stalled this power project we would have been enjoying power 24/7 as at a year ago. Yet people find it convinient to blame the great patriotic nigerian that initiated this power projects

@KunleOshob,
that is a sweet one. at least in you obj will see a brother in need.
if i may ask, where were you when obj choose fani kayode as his press sec. bcs in you i see a better option.
my mind does not doubt how informed you are and how close you were to the past admin.
if i may ask, when and how did this yar adua come into the picture because i can see you shifting more blames to him.
it is possible that obj wanted a third term bcs of these projects that he was unable to complete.
it is also possible that obj made himself the only qualified person to be the chairman of the pdp board of trustees to be in a position to choose the next president in case yar adua did not do well.

from your sweet and well decorated poem, i am begining to feel that obj works with power suply company.
if you did your home work very well, you will know how a federal contract works.
power supply will be an agreed contract with a company whose funds have been released otherwise you will see them in court against the federal govt. we all knew how N300 billion was released to Tony annenih by this same obj for roads reconstruction and we also know how far he went with the money and the roads.
in your mind, you will be thinking you are addressing primary school children.

since you know much abt the deal, what are the names of the companies who benefitted from these contracts and how much have been paid to them and how is their balance. that is how federal govt's contracts are done.
maybe, this power supply contract was given to moji his daughter inlaw to lure her to bed.

your obj was very poor before 1999 and you can say how rich he is by now. he is a saint yet he forced yar adua on us via the worst election\selection in the history of nigeria.

having seen the focus nigeria programme yesterday where the enginners clarified issues,and some underlying reasons for the whole issues,i guess i owe obasanjo an apology(lol)
1.aparently out of the 3.08 billion dollars,about half of the money is still in different banks and have actually been generating interests, and contrary to what the house of reps members were feeding the public,the contractors only got paid 25% mobilization fees,while majority of them have not been paid at all.

2.also all the places we were being shown on tv as bare land without any development is actually an erroneous impression as in most cases 95% of thr contract mandate or design is in the actual turbines/machinery and 5% actual installation so telling nigerians that they have not done anything because of bare land is not right.

3.they also said that the probe only interviewed about 550 contractors out of about 3000 and then indicted some that wernt allowed to defend themselves.

4.the consultant used by the house of reps committee probing the power sector was a contractor who was refused a contract,so one can imagine the mission of vendetta he ll be on to discredit anything and everything.

its obvious that obasanjo and his cronies must have corruptly enriched themselves out of the 3.08 billion,but not on the scale we weremeant to believe
this is why these guys should promulgate the f.o.b bill into law

The truth is coming out slowly.
OBJ needs to be cooling off in prison by now but i had always known that he was not as bad as nigerians were made to believe.

There are two sides to a coin. The scale to which Obasanjo and his cronies enriched themselves whether minimal or abysmal in respect to Power Projects should not undermine the fact that power generation has not improved in the country. Corruption was undertaken with the power projects, and that alone should make Obasanjo accountable, given how he vehemently went for his antagonist, (through the help of EFCC and other anti-corruption bodies) who were soiled with the deeds and proceeds of corruption from his own regime.

There is no genuine evidence of corrupt enrichment as far as the power project is concerned apart from the propaganda be bandied about by idiots seeking a pound of OBJ's flesh to settle political scores. Most of the contractors are actually being owed money and a huge amount of work had already been done b4 Yar'adua stalled the whole project. What most nigerains fail to understand is that no matter how many billions you spend on such projects even when you get to a stage of 95% completion, it would not work if some certain crucial things are not in place. For example if you by a brand new car and there is no fuel it, it won't work no matter how much you spent on the car. the truth is that the power projects which OBJ left in advanced stages of completion must be completed b4 we begin to enjoy power in this country. The onus is on the current goverment to complete this laudable project started by a illustrous nigerian and National hero OBJ

KunleOshob:

There is no genuine evidence of corrupt enrichment as far as the power project is concerned apart from the propaganda be bandied about by idiots seeking a pound of OBJ's flesh to settle political scores. Most of the contractors are actually being owed money and a huge amount of work had already been done b4 Yar'adua stalled the whole project. What most nigerains fail to understand is that no matter how many billions you spend on such projects even when you get to a stage of 95% completion, it would not work if some certain crucial things are not in place. For example if you by a brand new car and there is no fuel it, it won't work no matter how much you spent on the car. the truth is that the power projects which OBJ left in advanced stages of completion must be completed b4 we begin to enjoy power in this country. The onus is on the current goverment to complete this laudable project started by a illustrous nigerian and National hero OBJ

Enough of your sycophancy abeg.

nuzo:

Enough of your sycophancy abeg.

This is not sycophancy as OBJ is not even aware that i am defending him neither does he even know i exist. I never benefitted anything directly from his goverment apart from the highly improved economic climate which he left and all Nigerians are now enjoying. The truth is that i want all Nigeirans to see the other side of this genuine nigerian hero who as being maligned by the nigerian press, we cannot continue to bash our real champions on the basis of mis-information.

Whether we believe it or not, OBJ did a pretty good job as Nigeria's president, that does not suggest that he is perfect.

Some people are just bent on building their political capital on running down other people. OBJ made some strong statements about Nigeria. This is just the beginning, we will discover more. Yar'dull have nothing to offer other that inaction. OBJ is not a saint but but on a scale, he is about the best president we'd had in my lifetime. I may not have loved him much about the time he was in office and when he was leaving but he is definitely a model of statecraft compared to what we have now!