The Socio-Economic Rights and Accountability Project,SERAP has published a report accusing the three previous administrations of squandering N11trn (eleven trillion naira) electricity fund.
SERAP says the money, which comprises public funds, private equity and social investment, was misspent during Presidents Olusegun Obasanjo, Umaru Yar’adua and Goodluck Jonathan’s regimes.
Correspondent Femi Akande reports that the media launch of a scathing report of corruption in the electricity sector tagged ” From Darkness to Darkness” produced by SERAP.
Our Correspondent reports that indeed SERAP is not a pushover in civil rights advocacy in Nigeria, the report is a revelation of how Nigerians pay for the price of corruption.
The executive Director of SERAP, Adetokunbo Mumuni says it’s time for anti-graft agencies in the country to scrutinize activities in the electricity sector.
The report states that the total estimated financial loss to Nigeria from corruption in the electricity sector since 1999 is 11 trillion naira and it may reach 20 trillion naira in the next decade.
Fiery Human rights lawyer Femi Falana overwhelmingly endorsed the report detailing the rot in the electricity sector and he called for the decentralisation of power generation, distribution and transmission.
There has been numerous and unending probes and inquest into activities in the power sector, but the corruption persists.
SERAP now says the national assembly should publish widely and release the reports of all power sector related probes to the federal government and civil society organisations for necessary advocacies and prosecution by relevant agencies.