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Obasanjo, Yaradua, Jonathan spent N‎2.74tr on Power in 16 years – Senate

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*Senate demands audited account of ministry, agencies*

Facts emerged on Tuesday that a total whooping sum of N2.740 trillion was spent on power sector by

Federal government from 1999 till date, even as the Senate requested for audited account of Power Ministry and agencies.

‎The Permanent Secretary of Ministry Power, Ambassador Godknows Igali and Managing Director, Niger Delta Power Holding Company, James Olotu made this known at the ongoing Power probe by Senate Ad hoc Committee on Power.

 ‎‎The figure includes N948 billion released to Ministry, N155billion from subsidy and $8.3 billion (1.6 trillion) released to NIPP from Excess Crude Account (ECA).

“Since 1999, the sum appropriated is N1, 565 billion, and actual release was N948 billion including value chain and all agencies.

“What was released under Multi Year Tariff Order (MYTO) to from 200‎9-2013 under subsidy is N155 billion to cushion the shock of the slash in Tariff.”

‎Igali said that out of 79 generating plants that existed in Nigeria, only 19 were functional, generating only 1,750 megawatt as at the time democracy was restored in 1999.

He said that only investment was made‎ the construction of Shiroro power plant for decade.

“When democracy came, the democracy inherited the sector that had not made capital investment for long time and no single engineer was recruited in 19 years.

“For over a hundred years until 2005 when the Act was promulgated, power in the hand of the government.”

‎Igali attributed the problem with the power sector in the country to lack of consistency investment into power by the federal government saying that investment in power must be consistent and ‎gradual.

“I do know that despite government’s effort at funding power sector, the nation continues to experience epileptic power supply, however it takes time to stabilize”, he said.

Igali disclosed that as at 1999 when Olusegun Obasanjo took over, the power generation stood at 1,750 megawatt and because it is capital intensive, the Ministry had to bring in private sector which has resulted to a reasonable improvement from what it used to be.

The funds spent on power sector have made it possible for the country to have 4600 megawatt from 1,750 megawatt in 1999.

Meanwhile, the Committee demanded for the investment made in power sector and audited account of the Ministry showing all investment and expenditures in the sector.

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