Nigeria Loses N11trn To Corruption In Power Sector – Varsity Don
A university don, Dr. Yemi Oke, on Wednesday declared that Nigeria has lost N11 trillion to corruption in the power sector since 1999.
Speaking in Lagos during the launch of a report entitled: ‘From Darkness to Darkness: How Nigerians Are Paying the Price for the Electricity Sector’, produced by the Socio-Economic Rights and Accountability Project (SERAP), with support from MacArthur Foundation, Oke regretted that with the trillions of Naira allegedly invested in the sector, the country has yet to enjoy uninterrupted power supply.
Oke, a lecturer at the Department of Jurisprudence and International Law, University of Lagos, noted that the much-celebrated power sector reform was yet to yield the desired results as majority of Nigerians were still in darkness.
“It is estimated that it may reach over N20 trillion in the next decade given the rate of government investment and funding in the power sector amidst dwindling economic fortunes and recurrent revenue shortfalls.”
Also speaking, a human rights lawyer, Mr Femi Falana, urged SERAP to challenge the provisions of the Act in court and also use the Freedom of Information Act to ask questions on the privatisation process.
He called on state governments to initiate process of generating and distributing their own power, adding that electricity must be decentralised for the country to make progress.
On his part, the Executive Director, SERAP, Mr Adetokunbo Mumuni, said Nigerians were paying the price for corruption in the power sector in a multi-dimensional way.
Apart from being forced to provide their own electricity, Mumuni said Nigerians were also subjected to crazy billing by the electricity distribution companies on monthly basis.
