Nigeria: SERAP Wants Buhari to Probe Missing N11trn Electricity Fund

4 March 2021

The Socio-Economic Rights and Accountability Project, SERAP, yesterday, asked President Muhammadu Buhari to investigate all the alleged missing N11 trillion funds allocated for the execution of electricity projects since 1999.

Speaking at a press conference, SERAP's Deputy Director, Oluwadare Kolawole, said that despite President Buhari's promise to intensify the fight against corruption, access to regular electricity supply has become almost non-existent, due to systematic and widespread corruption in the sector.

In an address titled: 'Little to No Progress: Stopping Grand Corruption and Impunity in Nigeria', Kolawole asked the National Assembly to publish the reports of all power sector-related probes to the federal government and civil society organizations for necessary advocacy action and prosecution by relevant anti-corruption agencies.

He also asked the World Bank President, Mr. David Malpass to release information and documents relating to spending of funds approved and released to Nigeria between 1999 and 2020 to improve access to regular and uninterrupted electricity supply including copies of supervision reports, periodic reviews and other appropriate reports by the bank.

Recommending measures to tackle the endemic corruption in the sector, Kolawole said: "President Buhari should urgently address corruption in the electricity and education sectors by instructing appropriate anti-corruption agencies to investigate the allegations of missing N11trillio in the electricity sector since the return of democracy in 1999, and to ensure that suspected perpetrators of corruption are brought to justice and that any missing public funds are fully recovered.

"Undertake a thorough, impartial and transparent investigation into the power sector privatization to publish the details of ownership of public stakes of 40 per cent in those entities, and should ensure that government public resources are not used to subsidize private entities."

Vanguard News Nigeria

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