The Economic and Financial Crimes Commission (EFCC) has launched an extensive investigation into corruption within Nigeria’s power sector, a move that has uncovered alarming issues contributing to the country’s ongoing electricity challenges.
EFCC Chairman, Ola Olukoyede, attributed Nigeria’s frequent power outages and grid collapses to widespread misuse and mismanagement in power contracts, which has, he suggested, severely hindered the nation’s infrastructure development.
During a briefing with the House Committee on Anti-Corruption and Financial Crimes, Olukoyede revealed details about the quality issues plaguing equipment procurement. According to him, contractors often use substandard materials for electrical projects, causing frequent breakdowns.
Olukoyede said, “As I am talking to you now, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears.
“People who were awarded contracts to supply electricity equipment, instead of using what they call 9.0 guage, they will buy 5.0.
“So, every time you see the thing tripping off, gets burnt, and all of that, It’s part of our problems.”
He also stated that during its investigations, the commission discovered that in the last 20 years, capital project implementation and execution in the country were not up to 20 per cent.
He said the country could not achieve infrastructural or other forms of growth under such conditions.
“We discovered that in the last 15 to 20 years, we have not done up to 20 per cent of our capital project implementation and execution.
“And if we don’t do that, how do you want to have infrastructural development? How do you want to grow as a nation?
“So our mandate this year is to work with that directorate and with the National Assembly to see if we can meet up to 50 per cent of execution of our capital project for the year.
“If we do 50 per cent, we will be fine as a nation. The lack of implementation of this capital project, capital budget, is one of our major problems in Nigeria.
“If we can tackle that effectively, we will make progress as a nation. So we are doing everything to see how we can achieve that with your support.”
The anti-graft boss said the commission received over 17,000 petitions, adding that over 20,000 cases were currently under investigation.
He said, “We have several cases filed in court, apart from the conviction, running to thousands.
“In the last year, we have received over 17,000 petitions in EFCC. And right now, as I’m talking to you, we are investigating over 20,000 cases.
“Between last October and now, we have opened over 4,800 new cases. And what is our staff spread? We are less than 5,000 and now, with the additional responsibility of over 700 MDAs, 36 states, 774 local governments, and all of that.”
