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SERAP Asks Fashola To Disclose Details Of Spending In Power Sector IDOLLY YOl

SERAP Asks Fashola To Disclose Details Of Spending In Power Sector

The Socio-Economic Rights and Accountability Project (SERAP) has asked the Minister of Power, Works, and Housing, Mr Babatunde Fashola (SAN) to urgently provide details of spending on the privatisation of the electricity sector and to explain if “such spending came from budgetary allocations or other sources.”

In a statement on Monday by the SERAP Executive Director, Adetokunbo Mumuni, the organisation also asked for “information on the status of implementation of the 25-year national energy development plan and whether the Code of Ethics of the privatization process which bars staff of the Bureau of Public Enterprises (BPE) and members of the National Council on Privatization (NCP) from buying shares in companies being privatized were deliberately flouted.”

The organisation also said since the privatisation of the power sector, the government has continued to use public resources to subsidize private entities.  
It noted that the Goodluck Jonathan government reportedly spent over N400 billion on the power sector while the present government spent over N500 billion despite privatisation. SERAP, therefore, said it is unclear if the spending is drawn from budgetary allocations and if these are loans to generation companies (GENCOS), Distribution companies (DISCOS) and Transmission Company of Nigeria. 
Olaleye Anuoluwapo

Olaleye Anuoluwapo

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