Obasanjo, Yar'Adua, Jonathan looted over N11 trillion electricity funds - SERAP http://thenewsroom.ng/article.php?id=1133

I see!

The same people are still in control up till now and there is nothing we can do! thank to NNAMDI KANU for trying to make a different


here
is
the
full details

The Socio-Economic Rights and
Accountability Project (SERAP) has
revealed in a new report how over N11
trillion meant for the provision regular
electricity supply was allegedly
squandered under the governments of
former Presidents Olusegun Obasanjo,
Umaru Yar’Adua and Goodluck
Jonathan.
According to the report, “The total
estimated financial loss to Nigeria from
corruption in the electricity sector
starting from the return to democracy in
1999 to date, is over N11 Trillion.
“This represents public funds, private
equity and social investment (or
divestments) in the power sector. It is
estimated that it may reach over N20
Trillion in the next decade given the rate
of government investment and funding
in the power sector amidst dwindling
fortune and recurrent revenue
shortfalls.”
The 65 pages report launched in Lagos
is titled: From Darkness to Darkness:
How Nigerians are Paying the Price for
Corruption in the Electricity Sector. The
report presented to the media by Yemi
Oke, Associate Professor, Energy/
Electricity Law, Faculty of Law,
University of Lagos, also revealed that
“the country has lost more megawatts
in the post-privatisation era due to
corruption, impunity, among other
social challenges reflected in the
report.”
“The much-publicised power sector
reforms in Nigeria under the Electric
Power Sector Reform Act of 2005 is yet
to yield desired and/or anticipated fruits
largely due to corruption and impunity of
perpetrators, regulatory lapses and
policy inconsistencies.
“Ordinary Nigerians continue to pay the
price for corruption in the electricity
sector–staying in darkness, but still
made to pay crazy electricity bills.”
Femi Falana, Lagos based lawyer who
chaired the report launch said the report
is a must read, and promised to lead in
the follow-up litigation efforts to ensure
the full implementation of the
recommendations of the report.

Watch how some NairaLanders will come here and start defending them

Everyone with the mindset of partaking in the national cake...! They're thieves and should be treated like one...! Two wrongs can't make a right

Abeggi... Tell us how much OBJ alone looted ..

All this lack of investigative journalism are telling half true. Obasanjo was the only one that spent that amount on power .

This money fit make devil repent

tashashiel:
This money fit make devil repent

See savagery!
Chai

All global aids to naija should be stopped NOW