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Reps launch investigation into $16bn previous administrations invested in power sector

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The House of Representatives on Thursday resolved to Investigate a whooping $16 Billion spent on the power sector under power sector reforms by all previous federal administrations.
This followed the adoption of a motion by Hon. Sada Soli  on the matter on the floor of the House at plenary.
Soli while debating the motion noted that the Power Sector Reform Act was aimed at removing the ineffectiveness of the sector in order to transform it into a more efficiently managed sector.
He further noted that an investigative hearing conducted by the House of Representatives in 2008 over the alleged spending of about $16 Billion US Dollars on the power sector
He pointed out that power generation target was that by 2020, the nation would have achieved 40,000 MW based on the alleged  investments in the proposed power plants, but till date such generation target has eluded the nation.
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He said: ” alarmed that the contracts awarded of over $50 million dollars to companies that did not exist and that two billion dollars ($2bn) worth of energy contracts were also awarded without bidding and during process”
He also re-echoed the lamentation of the President to the effect that such huge sums of billions of dollars could be spent without commensurate results in the generation, transmission and distribution of power supply in the country..
He expressed worries that to date, no person,company or agency of government involved has been prosecuted despite the perennial power  supply and its associated socio-economic consequences for the nation.
He added that cognizant of the provisions of sec 88 and 89 of the provisions of the 1999 Constitution the National Assembly has the mandate to expose corruption,inefficiency and waste in the execution and administration of laws within it’s legislative competence.
Consequently, the House presided by the Speaker Hon. Femi Gbajabiamila put the matter to voice vote and the lawmakers voted for it.
He therefore directed that a comprehensive investigation be launched into the matter by a yet to be constituted ad-hoc committee which report is expected into the House in six weeks.

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