Obasanjo n Jonathan Regime N2.74 Trillion Spent On Electricity

The Permanent Secretary, Ministry of Power, Ambassador Godknows Igali, and the Managing Director, Niger Delta Power Holding Company, NDPHC, Mr. James Olotu, disclosed that N2.74 trillion was spent on electricity before a Senate Ad-hoc Committee probing the power sector from 1999 till date.

The Senate was told, yesterday that the Federal Government has invested a N2.74 trillion in Nigeria’s power sector over the last 16 years (1999 to date).

The investments were made during the regimes of former President Olusegun Obasanjo; his successor, late President Umaru Yar’Adua, and President Goodluck Jonathan.

Furthermore, Olotu revealed that contrary to popular belief, the National Integrated Power Projects, NIPPs, which gulped about $8.23 billion or N1.64 trillion were actually being funded from the Excess Crude Account, rather than from ministerial provisions.

Speaking further, Ambassador Igali told the Senate that former military Heads of state, who ruled the country from the overthrow of former President Shehu Shagari, up to 1999, when democracy was reinstituted, crippled the power sector.

According to Igali, this is because the successive regimes not only failed to recruit the relevant engineers for 19 years, but also failed to invest in the power sector during their reigns.

He disclosed that out of the 79 power generation units, only 19 were functioning at that time, adding that no new power plant was constructed from 1991 to 1999.

He recalled that the last plant, Shiroro was built in 1991, long before the emergence of Obasanjo as president in 1999, adding that consequently, the power sector depreciated rapidly due to lack of consistent investment and funding until Obasanjo began the power reforms.