Friday, August 28

Senate to probe power funding from 1999

The stage appeared set for a comprehensive probe of the nation’s power sector as the Senate declared on Thursday that officials of the Federal Ministry of Power, its departments and agencies and other key players within the sector would soon be appearing before it.

Chairman of the Senate ad-hoc committee on power, Senator Abubakar Kyari, stated this when the Senate President, Bukola Saraki, inaugurated the 14-member fact finding panel at the National Assembly Complex.

Kyari explained that stakeholders in the sector from 1999 till date, would be asked to provide needed information in order to achieve the committee’s laudable objectives.

He added that the committee would also beam its searchlight in the unbundling of the power sector, which was midwifed by the Bureau of Public Enterprises.

Kyari added that the committee would be seeking inputs from the establishment on the process of privatisation as it relates to funds committed to the exercise, funds generated, and the settlement of laid off staff of the Power Holding Company of Nigeria.

Apart from this, Kyari stressed that the committee would verify the claims of the successful bidders, their companies financial profile and why they were already asking for bail out/loan facilities from the Central Bank of Nigeria.

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