Home News Economy ‘National Assembly must probe Obasanjo’s $16bn power spending, others’

‘National Assembly must probe Obasanjo’s $16bn power spending, others’


A youth-led group, under the aegis of Young Nigerian Professionals (YNP), have asked the National Assembly to probe the $16 billion spending on power during the administration of President Olusegun Obasanjo from 1999 to 2007.

It also demanded that the federal lawmakers do same to the regime of late President Umaru Musa Yar’adua, former President Goodluck Jonathan and the incumbent President Muhammadu Buhari.

Addressing a press conference on Sunday in Abuja, the chairman of the forum, Charles Olufemi Folayan, who was flanked by many others, said without probing and bringing those  who  brought  Nigeria down  to justice, the country cannot move forward.

“With just a year to go before the 2020 target of a 40,000 MW for the country, based on the alleged  investment in   the proposed power plants, all those who have questions to answer must be brought forward to explain why the power generation target has remained unattainable despite the huge investments.

“Considering that this will be a very comprehensive investigation, covering the $16 billion spent by the Obasanjo-led government between 1999 and 2007, the power spending of administrations of Presidents Umaru Musa Yar’Adua   (late), Goodluck Jonathan and the incumbent, Muhammadu Buhari; we are confident no one will hide under the   excuse of being witch-hunted.


“We repeat that all those found culpable must be brought to book, no matter who they are. Every day,  Nigerians   suffer the absence of electric power supply; businesses have been forced to sustain themselves on diesel, and they   have been, most times, forced to close shop, or send the burden to poor Nigerians; all these have been caused by deliberate sabotage, malfeasance and brazen theft of money meant for the power sector.


“It is high time that the books are opened, and the way and manner all funds allocated to this sector were spent are made public; while those who are found wanting face the wrath of the law.

“We therefore, totally support the resolve of the House of Representatives to investigate and uncover those behind the ineffective and corruption – ridden investments in the power sector.

“Our Forum will keep watch on the process of investigation by the House and follow it to its final conclusion,” the forum said.




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