The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, recently highlighted how corruption within Nigeria's power sector is contributing to the country’s persistent electricity issues. During a visit from the House Committee on Anti-Corruption and Financial Crimes in Abuja, Olukoyede shared insights from the EFCC's investigations, revealing alarming details about the systemic corruption that is undermining the sector's growth and functionality.
Olukoyede specifically pointed out that contractors involved in electrical projects often supplied substandard materials instead of adhering to quality standards. For example, contractors would opt for cheaper, lower-quality electrical cables (such as 5.0 gauge cables instead of the required 9.0 gauge), which are prone to failure, leading to frequent power outages and grid collapses. He stressed that this issue is a major cause of Nigeria’s erratic power supply, with critical infrastructure continuously underperforming due to these practices.
In addition to the power sector’s troubles, Olukoyede discussed the broader issue of poor capital project implementation, revealing that over the past 15-20 years, Nigeria has only managed to implement less than 20% of its capital projects. This low rate of execution has significantly hindered infrastructural development in the country, with Olukoyede emphasizing that unless this issue is addressed, the nation cannot expect meaningful progress.
To improve the situation, Olukoyede outlined the EFCC’s goal of working with the National Assembly to increase capital project execution to at least 50% in the current year. He expressed hope that this would lead to better infrastructure and, ultimately, national growth.
The EFCC Chairman also highlighted the commission's heavy workload, citing that the agency has received over 17,000 petitions and is currently investigating more than 20,000 cases. Despite a limited staff of under 5,000, the EFCC continues to handle cases involving various ministries, departments, agencies, states, and local governments across Nigeria. Olukoyede also mentioned the urgency of working with the judiciary to expedite the trials of suspects, particularly to reduce the number of people awaiting trial.
The visit underscored the need for closer collaboration between the EFCC, the National Assembly, and the judiciary to tackle corruption and improve Nigeria's governance and infrastructure.
0 Comments