FG – Over $8b expended on Power Sector in 3yrs

23 July 2020 by Aisha Adesonya

The Federal Government has revealed that a total of eight point two three four billion dollars was spent on the nations Power sector between 2005 and 2008.

The Accountant General of the Federation, Ahmed Idris who made this known when he appeared before the House of Representatives Ah-doc committee on Power Sector Reform, said the extent of the nations treasury involvement in the Power reform is only for disbursement of funds as approved by the appropriate authorities.

Idris who was asked to do more findings and report back to the committee in four days following his inability to provide answers to some questions asked by the committee members however admitted that the Power sector is still at a struggling stage and not yet ripe to pay back investments made on it.

Meanwhile, the Ah-doc committee on the Power Sector Reform, led by the leader of the House, Alhassan Ado-Doguwa, frowned at the refusal of the Central Bank of Nigeria (CBN) to honour three of its invitation to state its part in the reform.

The committee is expected to come up with solutions to the lingering problems in the nation’s power sector.

COV/ Aisha

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