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Saraki, Dogara queries N2.7 Trillon power sector spending without result

Saraki

The leadership of the National Assembly on Tuesday decried the country’s dilapidated power sector infrastructure despite government’s huge investment in the industry since 1999.

President of the Senate, Bukola Saraki , blamed the prevailing power supply crises in the country on failure of successive governments to properly address the rot in the sector.

He also faulted the government’s decision to sell power generation and distribution companies to persons that lacked the technical and financial capacities to run the sector.

“Wherever we go in the world, the failure is on all of us, whether we are in the private sector or those of us in the public sector.

“We must be prepared to put Nigeria first and the government itself must be sincere with every decision that they have to take,” the Senate president said.

The Speaker of the House of Representatives, Yakubu Dogara, regretted that Nigerians have not been positively impacted with the over N2.7 trillion invested in the power sector in the last 16 years.

Arguing that huge investment had only bought darkness to Nigeria, Dogara said it has become imperative for Nigerians to put more pressure on the Federal Government and other stakeholders for realistic steps to revamp the electricity industry.

Saraki and Dogara spoke at a two-day stakeholders’ dialogue on “Nigerian Power Challenge: A Legislative Intervention.”

The Speaker said, “Perhaps, the most important question is what happened to the N2.74 trillion spent on the sector from 1999-2015?

“Why is it that the more we spend on the power sector, the more darkness we attract?

“Why are most of the companies licensed by Nigerian Electricity Regulatory Commission not able to start their projects?”

However, the Minister of Power, Works and Housing, Babatunde Fashola, said there is no going back on the power sector privatisation policy.

He said the solution was to strengthen the privatisation policy by putting the right structures in place to encourage investors.

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