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When Rilwan Lanre Babalola (2008 to 2010) took over the affairs in the Ministry of Power, he met 3,700MW on ground and promised to increase it to 6,000MW and ensure a 24-hour power supply by the end of 2009.
Six months after assuring Nigerians of making a significant impact in the sector, in September 2009, the 3,700MW capacity he met on ground dropped to 2,710MW which shortfall was attributed to inadequate supply of gas to the new generators.
The duo, Elumelu and Ugbane allegedly colluded in misappropriating over N10 billion public funds from the account of Rural Electrification Agency (REA).
The research also established, based on evaluation and analyzing documents, a prima-facie case of misappropriation of unspent funds at the end of the year instead of returning same to the treasury. Alleged misappropriation of N500million to buy houses; diversion of REA’s funds
The government of Nigeria handed over the transmission company to a Canadian company Manitoba, to manage and under a management service contract of over $200 million.
Findings also show that the Transmission Company of Nigeria could not execute most of its approved 44 projects after having 50 percent of its N30 billion 2016 budget released to it.
Funds were released from Eurobond. $23.6 million allegedly paid to Manitoba Hydro International (MHI) of Canada to manage the Transmission Company of Nigeria would appear to be without due process. The privatization of PHCN would appear to have yielded the country total darkness.
Billing methodology shrouded in secrecy. Billings do not reflect actual electricity consumptions in most cases. Most if not all, officials of the DISCOs are still very corrupt and demand gratification from customers before doing the job they are paid to do.
Grand corruption against the Federal Government owner of the 40% stakes in the DISCOS, and by implications, the Nigerian masses due to non-remittance or under-remittances of the monies collected by the DISCOs.
