There Is A Monumental Fraud In The Power Sector – Dino Melaye

Dino Melaye has cried out on the ‘monumental fraud’ in the ministry of power, works and housing.

Babatunde Fashola currently heads the ministry.

Melaye alleged that the execution of the ministry’s Fast Power initiative has been laced with corruption.

“In line with anti-corruption posture of this chamber especially now that our cries and observation are yielding dividence as expressly manifested in the case of Babachir Lawal,” Melaye began.

“Today I bring to the attention of this senate, a monumental fraud in the power sector. In July 2013, the FG raised N1 billion from a euro bond issue. From the proceed, the sum 350 million dollars was given to IBEX in 2014. This money is installmentally stolen.

“As I speak to you, Mr President, sometime last year again, the ministry of power came up with a project they termed Fast Power. This indigested project is supposed to build new generating plants to add power to our grid.

“There are few questions I need to ask to bring a substantive motion to bring up in another legislative day. Up till date there is no detail to build this new generating plant or feasibility study. There is no appropriation by National Assembly for this project.

“The ministry has spent so $35 million on the affirmed Fast Power project that has no appropriation or no detailed feasibility study. How and when was this money appropriated? Out of this money, 29 million dollars was purportedly paid to General Electric for turbine while 6 million dollars was paid to others. This amount amongst others is a monumental fraud,” he added.