Senate Summons Minister, Discos, Others Over N1.8t Spent On Power In Seven Years
The Senate on Thursday summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed; Bureau of Public Enterprise, Electricity Distribution Companies, Electricity Generating Companies and Nigeria Bulk Electricity Trader among others over the N1.8 trillion spent on the power sector since its privatisation seven years ago.
The Chairman, Senate Committee on Power, Senator Gabriel Suswan, made this known while briefing newsmen about the proposed investigation of the power sector.
Suswam lamented that despite the huge amount spent as intervention fund in the power sector, the country only gets 4,000 megawatts to show for it.
The chairman revealed that amounts including N701 billion, N600 billion, N380 billion and N213 billion have been released for the intervention in the power sector since it was privatised in September 2013.
He said the investigation was not going to be punitive, but intended to find out why the power industry is insolvent and determine strategies required to make it solvent and attractive to investors.
