SERAP Urges Buhari To Probe Missing N11trn Electricity Fund

The Socio-Economic Rights and Accountability Project (SERAP) has called on President Buhari to promptly and thoroughly investigate how over N11 trillion meant to provide regular electricity supply has been allegedly squandered by governments since 1999.

In the letter dated March 19, 2022, signed by its Deputy Director, Kolawole Oluwadare, SERAP also urged Malami to refer to the International Criminal Court all unimplemented reports of corruption in the electricity sector gathering dust on the shelves, and arrest and surrender those named in the reports to the court for prosecution.

The organization warned that if recommended measures were not taken within seven days of the receipt and/or publication of this letter, it would consider appropriate legal actions to compel the government to comply.

The letter read:

“Nigerians have for far too long been denied justice and the opportunity to get to the bottom of why they continue to pay the price for corruption in the electricity sector–staying in darkness, but still made to pay crazy electricity bills.

“The situation will not improve unless you fulfil your campaign promises to probe corruption in the electricity sector, prosecute perpetrators, and recover any missing public funds.

“Corruption in the electricity sector has also continued to disproportionately affect the most disadvantaged and vulnerable sectors of the population, who cannot readily afford expensive generators in order to have a reliable power supply.

“The details of the missing N11 trillion electricity funds are contained in a SERAP report titled: From Darkness to Darkness: How Nigerians are paying the Price for Corruption in the Electricity Sector.

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“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.”


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