$16bn Power Sector Fraud: Obasanjo Replies Buhari

FORMER President Olusegun Obasanjo is of the view that those
who believed his administration wasted $16 billion on power project
implementation with nothing to show for it lacked proper understanding.

a reply to queries on what happened to the $16 billion power sector
funds under his administration, the former president said it was wrong
for anybody to reply on what he called “unsubstantiated allegations
against him by the then leadership of House of Representatives over the

Before President Muhammadu Buhari vowed yesterday to
probe the multi-billion dollar project, he had in May last year, queried
where the funds went.

The former President, who responded through his media aide, Kehinde Akinyemi, blamed the query on lack of proper understanding.

said: ”It has come to the attention of Chief Olusegun Obasanjo that a
statement credited to President Muhammadu Buhari, apparently without
correct information and based on ignorance, suggested that $16 billion
was wasted on power projects by “a former President.

“We believe
that the President was re-echoing the unsubstantiated allegation against
Chief Obasanjo by his own predecessor but one.

“While it is
doubtful that a President with proper understanding of the issue would
utter such, it should be pointed out that records from the National
Assembly had exculpated President Obasanjo of any wrong-doing concerning
the power sector and has proved the allegations as false.

the records, Chief Obasanjo has addressed the issues of the power sector
and the allegations against him on many occasions and platforms,
including in his widely publicised book, “My Watch” in which he
exhaustively stated the facts and reproduced various reports by both the
Economic and Financial Crimes Commission (EFCC), which conducted a
clinical investigation into the allegations against Chief Obasanjo, and
the Ad-Hoc Committee on the Review of the Recommendations in the Report
of the Committee on Power on the Investigation into how the Huge Sums Of
Money was Spent on Power Generation, Transmission And Distribution
between June 1999 and May 2007 without Commensurate Result.

recommend that the President and his co-travellers should read Chapters
41, 42, 43 and 47 of My Watch for Chief Obasanjo’s insights and
perspectives on the power sector and indeed what transpired when the
allegation of $16 billion on power projects was previously made.

he cannot read the three-volume book, he should detail his aides to do
so and summarise the chapters in a language that he will easily

“”In the same statement credited to the President, it
was alleged that there was some bragging by Chief Obasanjo over $16
billion spent on power. To inform the uninformed, the so-called $16
billion power expenditure was an allegation against Chief Obasanjo’s
administration and not his claim.

“The President also queried
where the power generated is. The answer is simple: The power is in the
seven National Integrated Power Projects and eighteen gas turbines that
Chief Obasanjo’s successor who originally made the allegation of $16
billion did not clear from the ports for over a year and the civil works
done on the sites.

“”Chief Obasanjo challenges, and in fact
encourages, anybody to set up another enquiry if in doubt and
unsatisfied with the EFCC report and that of the Hon. Aminu Tambuwal-led
ad-hoc committee.”

Source:- Thenationonlineng