By Abdulwahab Abdulah
Revelations emerged yesterday that the country has lost over N11 trillion Naira to corruption in the electricity sector since her return to democracy in 1999.
The revelation was contained in a report titled: From Darkness to Darkness: How Nigerians Are Paying the Price for Corruption in the Electricity Sector, released in Lagos from findings carried out by the Socio-Economic Rights and Accountability Projects, SERAP. The research was supported by MacArthur Foundation.
In the 64-page no-hold- barred report, the organisation detailed how Nigeria and Nigerians are being ripped off through corrupt practices embedded in the electricity sector, which it said must be tamed to avoid total calamity in the country’s economic sector.
The report revealed that the country may witness a total estimated loss of N20 trillion from corruption in the sector in the next decade if urgent steps are not taken.
The document prepared by electricity law expert and a lecturer in the University of Lagos, Dr Yemi Oke, stated that the expected loss in revenue is coming amidst dwindling fortune and recurrent revenue shortfalls.
According to SERAP, the hope of Nigerians for regular electricity supply was dashed due to corruption and corrupt practices in the sector, where it stated more electricity megawatts are lost in the post-privatisation era due, “to impunity, corruption and vandalisation of gas pipelines and other acts of restiveness in the resource bearing communities.”
Identified as catalysts aiding corruption and impunity in the electricity sector are lack of effective monitoring and supervision, the top-down model of electricity governance in Nigeria, institutional decay and current corrupt attitudinal dispositions of sector officials and other players in the power sector.
In addition, the report noted that state monopoly of electricity, current structural arrangement, institutional improprieties, lack of decentralised energy options and state-controlled electricity governance model are impacting negatively in the energy sector.
In addition, the report noted that state monopoly of electricity, current structural arrangement, institutional improprieties, lack of decentralised energy options and state-controlled electricity governance model are impacting negatively in the energy sector.
The post How Nigeria lost N11trn to graft in power sector – SERAP appeared first on Vanguard News.
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