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Nairaland Forum / Nairaland / General / Politics / Power: Govt ‘spent N2.740tr In 16 Years’ (651 Views)
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Power: Govt ‘spent N2.740tr In 16 Years’ by Rexsul: 6:14am On Sep 09, 2015 |
In 16 years, N2.740 trillion went down the drain in the
power sector, Senators heard yesterday.
This was the submission of the Permanent Secretary,
Ministry of Power, Ambassador Godknows Igali, at the
Senate’s two-day investigative hearing on the troubled
sector.
The hearing was inaugurated by the upper chamber to
unearth alleged unwholesome practices in the sector
between 1999 and 2015.
The Senate mandated an ad-hoc committee on the Power
Sector, headed by Senator Abubakar Kyari (Borno North),
to conduct a comprehensive hearing to expose corrupt
practices and establish how much the Federal Government
has spent on the sector between 1999 and 2015.
Igali told the committee that of the N1.6 trillion
appropriation since 1999, N948 billion was actually
released to the Ministry of Power and its agencies within
the period.
The Permanent Secretary added that N155 billion was also
released to the ministry to cushion the effects of the
shortfalls in expenditure within the same period.
Igali said at the inception of democracy in 1999, the
government inherited a sector where everything was
dormant with no new generating units built except the one
built in the 60s.
He stressed the need for consistent investment in the
sector.
He noted that for over 100 years when the first electric
power came to Lagos, power remained in the hand of
government because there was no law allowing individuals
to invest in the sector.
He said: “It is a heavy capital intensive industry but if you
get it right people are ready to pay. We have not been
consistent with our investment. From 1999, despite the
interest of government to infuse money in the sector,
government has not been able to meet what the sector
requires.”
Igali also told the committee that the country’s electricity
generation had risen to about 4600 megawatts from 3500
megawatts in 2013.
He attributed the rise in generation capacity to reduced
vandalism of power equipment.
The permanent secretary also said that the NIPP is the
greatest contributor of power to the National Grid.
He noted that post-privatisation era, vandalism of power
equipment has gone down.
Igali said that from his evaluation “things will be better in
the sector very soon”.
On the disengaged staff of the Power Holding Company of
Nigeria (PHCN), Igali said only 2000 had not been verified
and paid their severance allowances.
He explained that most of those involved who claimed to
be former staff of PHCN have no valid document to back
up their claim.
He, however, said that the final verification would soon be
conducted to determine the veracity of the claimants.
The Permanent Secretary told the committee that proceeds
of privatisation was used to settle claims of over 46,000
workers by the Bureau for Public Enterprises (BPE) through
the office of the Accountant General of the Federation and
the Pension Commission.
The Managing Director of the Niger Delta Power Holding
Company, Mr. James Olotu, told the committee that the
National Independent Power Projects (NIPP) received
$8.23 billion.
The $8.23 billion, which came from the excess crude
account, translates to about N1.640 trillion the NIPP spent
on its activities.
The committee wondered why local governments were not
represented on the governing board of the NIPP even
when they are part of the sponsors of the NIPP projects.
Olotu explained that the framers of the NIPP law might
have thought that bringing in local government chairmen
as NIPP board members would make it unwieldy,
considering the number of local governments.
He said governors on the board are representing local
governments in their geo-political zones.
The committee asked Igali to submit to it audited accounts
of the ministry and its agencies.
The audited account will enable the committee to know
what was actually released to the ministry, the chairman
said.
The committee was also not comfortable with what a
member described as notable contradictions and
discrepancies in the presentations of those who appeared
before the committee.
The chairman said in most of the submissions, there were
no project costs; only budget allocations.
Senate President Bukola Saraki, at the inauguration of the
committee two weeks ago, charged it to conduct a
comprehensive probe of allegations of questionable
practices in the sector. www.thenationonlineng.net/power-govt-spent-n2-740tr-in-16-years/ |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by Demmocrats(m): 6:14am On Sep 09, 2015 |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by Magician1503(m): 6:20am On Sep 09, 2015 |
Jeso Kreste! |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by rusher14: 6:20am On Sep 09, 2015 |
Lol |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by Rexsul: 6:21am On Sep 09, 2015 |
Magician1503:Haba bros why shoutn na |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by Magician1503(m): 6:27am On Sep 09, 2015 |
Rexsul: Ah Bros! Ah! Ah! Maybe I should just STFU The level of corruption in this kwantri is way beyond me. |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by RichDad1(m): 6:36am On Sep 09, 2015 |
PDP is a curse to this nation. Their effect is worse than Ebola's. |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by Imortal001: 6:36am On Sep 09, 2015 |
PDP, waste our money sha.. |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by omowolewa: 7:01am On Sep 09, 2015 |
And sold PHCN for how much? |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by Rexsul: 7:07am On Sep 09, 2015 |
RichDad1:nw ds got me laughn |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by JAMANZE: 7:09am On Sep 09, 2015 |
WHAT DO YOU EXPECT WHEN OBASANJO APPROVED BILLIONS OF DOLLAS FOR POWER PROJECTS ONLY FOR YOU TO GET THERE AFTER SOME YEARS TO FIND OUT IT ONLY TREES THAT WAS UPROOTED. OBASANJO LAID THE FOUNDATION FOR THIS EVIL TREND. BUHARI SHOULD JAIL HIM INSTEAD OF MAKING HIM SPECIAL ENVOY TO OTHER AFRICAN NATIONS |
Re: Power: Govt ‘spent N2.740tr In 16 Years’ by TI1919(m): 7:17am On Sep 09, 2015 |
Still dwelling in the past.
|
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