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Obasanjo, Yar'Adua, Jonathan wasted 11 Trillion Naira on Electricity

The Socia-Economic Right Accountability Project, SERAP have release a report on how over 11 Trillion was lost to corruption in the process of providing regular electricity supply for Nigeria under the government of Olusegun Obasanjo, Umar Musa Yar'Adua and Goodluck Jonathan.

The 65 page report which was launched on Wednesday titled tittled ' FROM DARKNESS TO DARKNESS : How Nigerians are paying the price for corruption in Electricity Sector.
The chairman of the report lunching, Femi Falana (SAN) said ' This is a most read and promised to lead in the follow up ligation effort to ensure the full implementation of recommendation of the report.

The report reveals: “The much-publicised power sector reforms in Nigeria under the Electric Power Sector Reform Act of 2005 is yet to yield desired and/or anticipated fruits largely due to corruption and impunity of perpetrators, regulatory lapses and policy inconsistencies. Ordinary Nigerians continue to pay the price for corruption in the electricity sector–staying in darkness, but still made to pay crazy electricity bills.”

The report also accuses Dr. Ransom Owan-led board of the Nigerian Electricity Regulatory Commission (NERC) of allegedly “settling officials with millions of Naira as severance packages and for embarrassing them with alleged Three Billion Naira (N3,000,000,000.00) Fraud. The authorities must undertake a thorough, impartial and transparent investigation as to the reasons why corruption charges were withdrawn, and to recover any corrupt funds.”
The report further called for the reopening and effective prosecution of corruption allegations, including the alleged “looting of the benefits of families of the deceased employees of Power Holding Company of Nigeria (PHCN) levelled against a former Permanent Secretary in the Ministry of Power, Godknows Igali.

Other revelations in the report shows: “The Obasanjo’s administration spent $10 billion on NIPP with no results in terms of increase in power generation. $13.278,937,409.94 was expended on the power sector in eight years while unfunded commitments amounted to $12 billion.”
“The Federal Government then budgeted a whopping N16 billion for the various reforms under Liyel Imoke (2003 to 2007) which went down the drains as it failed to generate the needed amount of electricity or meet the set goals. Imoke was alleged to have personally collected the sum of $7.8 million for the execution of the contract for the construction of the Jos-Yola Transmission Line, which was never executed. There were documented/reported allegations of corruption against Imoke that fizzled-out shortly thereafter.
“Professor Chinedu Nebo handed over the assets of the PHCN to private investors on November 1, 2013. Prof. Nebo is alleged to have corruptly funded the privatised power sector with over N200 Billion despite privatisation. The allegation of N200 Billion funding of the privatised power sector during Prof Nebo’s tenure should be thoroughly and transparently investigated and anyone suspected to be responsible prosecuted. Any corrupt funds should be fully recovered.

The report was put together by law expert in electricity and lecturer in the University of Lagos Dr Yemi Oke
Attendance at report launch include Babatunde Irukera, the Director General/Chief Executive of the Consumer Protection Council (CPC); and Mr Ibrahim Magu, Chairman of the Economic and Financial Crimes Commission (EFCC) who was represented by Mr Osita Nwajah, Director Public Affairs EFCC.
Both agencies promised to work to ensure the full implementation of the recommendations contained in the report.

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