The Senate on Thursday resolved to consider alleged misuse of $1.35 billion power sector funds by the Ministry of Power.
The resolution followed “save power sector” alarm raised by Senator Dino Melaye (Kogi West).
Relying on Order 42 “matter of urgent public importance, “Melaye sought permission of the chamber to furnish it with details of how $1billion Euro bond raised in 2013 was allegedly “installmently stolen.”
The Kogi West senator also asked for approval to detail how another $35 million set aside for “Fast Power project” was allegedly siphoned by the Ministry of Power without appropriation and feasibility study.
Melaye noted that he was seeking permission to expose mismanagement of funds in line with the anti-graft posture of the Federal Government and the Senate.
He said: “In line with the anti-corruption posture of this chamber especially now that our cries and observations are yielding evidence as expressly manifested in the case of Babachir Lawal, today I bring to the attention of this Senate, a monumental fraud in the power sector.
“In July 2013, the FG raised $1 billion from a Euro bond issue. From the proceeds, the sum $350 million was given to IBEX in 2014. This money is installmentally stolen.
“As I speak to you, Mr. President, sometime last year again, the Ministry of Power came up with the project they termed “Fast Power”.
“This indigested project is supposed to build new generating plants to add power to our grid.
“There are few questions I need to ask to bring a substantive motion another legislative day.
“Up till date, there is no detail to build this new generating plant or feasibility study. There is no appropriation by National Assembly for this project.
“The Ministry of Power has spent $35 million on the affirmed Fast Power project that has no appropriation or no detailed feasibility study.
“How and when was this money appropriated? Out of this money, $29 million was purportedly paid to General Electric for turbine while $6 million was paid to others. This amount amongst others is a monumental fraud.
“We need the Senate to investigate this after moving a substantive motion to continue the anti-corruption fight.”
When Senate President, Abubakar Bukola Saraki put the question to vote, the affirmation for Melaye to present a motion on the issue at the next legislative date was unanimous.
