The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has blamed the unstable power supply in Nigeria on corruption.
Olukoyede disclosed that contractors awarded projects supply electrical equipment often opted for substandard materials.
He stated that this was the major cause of frequent equipment failures, outages, and grid collapses.
The EFCC chair made the revelation during a visit by the House Committee on Anti-Corruption and Financial Crimes in Abuja on Tuesday.
Olukoyede lamented that Nigerians would be in tears if the Commission discloses what it has uncovered during its investigations.
Olukoyede said, “As I am talking to you now, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears. People who were awarded contracts to supply electrical equipment, instead of using what they call 9.0 gauge, would go and buy 5.0.
“So every time, you see it tripping off, getting burnt, and all of that. It falters, and it collapses. This is part of our problems.”
Olukoyede also stated that during its investigations, the commission discovered that in the last 20 years, capital project implementation and execution in the country had not exceeded 20 per cent.
He noted that the country could not achieve infrastructural or other forms of growth under such conditions.
Olukoyede said, “We discovered that in the last 15 to 20 years, we have not achieved up to 20% of our capital project implementation and execution. And if we don’t do that, how can we expect infrastructural development? How can we grow as a nation? So our mandate this year is to work with that directorate and with the National Assembly to see if we can reach 50% of capital project execution for the year.
If we achieve 50%, we will be fine as a nation. The lack of implementation of the capital budget is one of Nigeria’s major problems. And if we tackle that effectively, we will make progress as a nation. We are doing everything possible to prevent that, with your support.”
The anti-graft boss stated that the commission had received over 17,000 petitions, adding that over 20,000 cases are currently under investigation.
“We have several cases filed in court, apart from those with convictions, reaching thousands. In the last year, we have received over 17,000 petitions in the EFCC. And currently, as I am speaking, we are investigating over 20,000 cases.
Between last October and now, we have opened over 4,800 new cases. And what is our staff count? We are less than 5,000. Now, with the additional responsibility of over 700 MDAs, 36 states, 774 local governments, and all of that,” he added.
