The Nigerian Senate Committee on Power, disclosed on Thursday it has concluded plans to embark on a 3-day investigative hearing targeted at unraveling how the N1.8trn invested into the power privatisation move by the Federal Government from 2013 till date has been put to use.
It would be recalled that the privatisation exercise was kick-started by the President Goodluck Jonathan administration on September 13, 2013.
Senator Gabriel Suswan, Chairman of the Senate Panel, disclosed to newsmen right after the panel’s meeting that the intended probe is not for a punitive action.
Stating the amount of funds released at different intervals for the privatization exercise, Gabriel Suswan gave insights of sums ranging from N701bn, N600bn, N380bn and N213bn released in the last seven years.
Senator Suswan stated that the Minister of Finance, Zainab Ahmed, as well as her Ministry of Power counterparts, other related government agencies in the power sector alongside private sector operators, have all been invited for the probe.