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Some were stolen while others were never even bought or some of the funds out rightly stolen.
Also, while the public show lasted, work stopped at some of the IPPs’ sites across the country.
“A large brewer”, the magazine said, “explains that energy accounts for about 5% of his total costs ten times as much as at similar outfits in other countries.
At banks, where each branch needs its own generator, fuel accounts for about 6% of total costs; and at mobile-telephone companies, which have to provide power to each of their cellphone masts, it can be 10% of total costs….
N1.5 trillion was appropriated for the period of 16 years, but N959,195,372,089 billion was released. A breakdown of the appropriation and money released from 1999 to 2015, are: In 1999, N11,205,842,051 was appropriated, but N6,697,964,119 was released; in 2000, N59,064,381,817 was appropriated, N49,784,641,521 was released; in 2001, N103, 397,000,000 was appropriated, with NN70,927,000,000 released; in 2002, N54,647,252,061 was appropriated, N41,196,117,172 was released; in 2003, N55,583,099,000 was appropriated and N5,207,500,000 was released; in 2004, N54,647, 252,061 was appropriated, N54, 647,252,061 released; in 2005, N90,282,833,404 was appropriated, N71,888,606,274 was released; in 2006, N74,308,240, 085 was appropriated, N74.
3 billion released; in 2007, N100 billion was appropriated, N99.8 billion released; in 2008, N156 billion appropriated, N112 billion released and in 2009, N89. In 2010, N172 billion was appropriated and N70 billion was released; in 2011, N125 billion was appropriated, N61 billion was released; in 2012, N197. 5 was released; in 2013, N146 billion was appropriated and N49 billion was released; in 2014, N69.8 billion was appropriated and N48 billion was released and in 2015, N5, 240,000,000 was appropriated with no money released.
Nigeria ought to be able to generate about 5.5MW of electricity, but because of breakdowns, gas shortages and decrepit transmission lines, it struggles to churn out anything” meaningful.
For the agents of darkness in Nigeria, they are the past leaders who did not understand or were made not to understand that electric power supply is the only means to the end of prosperity which every nation seeks, a prosperity which even the constitution of the country purports to guarantee every citizen.
These were just some of the revelations at the probe of investments in the power sector since 1999 being carried out by the Senate Committee chaired by Senator Abubakar Kyari, APC, Borno North.
It was at that same public hearing that it was revealed that before 1999, there was no recruitment of an engineer for the nation’s power company.
The anti-corruption crusade No doubt Nigeria has been serially raped by successive administrations without a clear-headed policy on power which takes cognizance of consistent funding and progressive policy frameworks that could have positively stabilized the sector.
Yet, the past military leaders, Obasanjo’s staccato eight years and Jonathan’s bumbling six years, with the attendant wastefulness need looking into.