Power sector: Nigerian Senate set to probe N1.8tr wasted in 7yrs  

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The Nigerian Senate is set to start a probe of the approximately 1.8 trillion naira, the Federal Government has so far invested in the Power Sector through the Nigerian Electricity Supply Industry, NESI, from 2013 to date.

Addressing media men, yesterday in Abuja, Senator Gabriel Susman, the Chairman, Senate Committee on Power said that a holistic investigation would be carried out, especially to find out how interventions by the Federal Government to address the problems associated with the power sector had been executed, noting that the Federal Government had over the years, intervened at various time in the sector.

Senator Gabriel Suswan (PDP, Benue North East) stated that despite the huge sums spent so far, the sector has been epileptic, with no commensurate results.

According  to him, from 2013 to date, the Federal Government had spent  N701 billion; N600 billion and this year, there has been N380 billion and N213 billion, adding that all these monies were Federal Government intervention in the power sector to make it efficient and for Nigerians have access to electricity,

Suswam said that despite the huge amount of money that had been expended, the result is that the performance has been below expectations, adding that the Senate was geared towards determining the adequacy of such funds.

He noted that if the funds are found to have been adequate, the Senate wants to know why Nigerians are not receiving stable and adequate power supply.

Consequently, the Senate has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed; Minister of Power, Saleh Mamman; Presidential Power Initiative; Bureau of Public Enterprises; Nigeria Bulk Electricity Trader, NBET and Nigeria Electricity Regulatory Commission, NERC to appear before the Committee next week for a three- day probe.

Also to appear before the Committee are the Transmission Company of Nigeria, TCN; Generation Companies, Gencos; Distribution Companies, DISCOS; Nigeria Electricity Liability Management Company, NELMCO and Gas- to- Power Suppliers.

The committee’s investigation is to identify the reasons for the inefficiency and under- performance in terms of unstable and inadequate electricity supply in the power sector despite the huge financial interventions by the Federal Government as well as assistance from President Muhammadu Buhari to achieve his promise of providing Nigerians with adequate and stable power supply.


About the author

Joseph Chukwuma Oputa

Joseph Chukwuma Oputa is the Managing Editor of Maslow Businessnews and Physicians News publications published by Maslow Business News Publications, Lagos, Nigeria.

Joseph Oputa is a proud Alumnus of the prestigious Nigerian Institute of Journalism, Lagos and Federal Polytechnic, Bida, Niger State.

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