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Nigerians need an explanation of $16b power fund – Olapade Agoro 


What Nigerians need now is an explanation on how the $16b power fund was spent – Agoro

– Olapade Agoro has asked former presidents Olusegun Obasanjo to shed more light on how the $16billion power fund was disbursed

– Agoro also claimed that the administration of Goodluck Jonathan knows about how some part of the fund was spent – He added that immediate past leaders and current president owe Nigerians an explanation on how the money was spent Chairman of the National Action Council (NAC) Dr. Olapade Agoro has called on past presidents, Olusegun Obasanjo and Goodluck Jonathan, as well as President Muhammadu Buhari to explain to Nigerians how the $16billion power project fund was mismanaged. Agoro made the statement after President Muhammadu Buhari, during a meeting with the Buhari Support Organisation (BSO) alleged that the Obasanjo administration wasted $16billion on a non-existent power project. Vanguard reports that Agoro said this when speaking with newsmen, in Ibadan, on the occasion of Nigeria’s 19th anniversary of Democracy Day.

He said: “It was unfortunate that the 19 years of the democratic process have brought about poverty, suffering, and sorrow to Nigerians as a result of corruption and mismanagement of funds. “The 19 years of democratic experience in the country have been woefully messed up by corrupt politicians. What Nigerians need now is an explanation on how some funds were mismanaged or embezzled.

“The issue of the $16 billion power project is not a blame-game issue. Buhari was partially right, claiming that Obasanjo spent $16 billion on the power project. The truth is that Obasanjo committed $12 billion, while the Yar’Adua/Jonathan’s administration committed $8 billion to the project. “This is, therefore, calling on Obasanjo to forget about asking anybody to go and read his book. Nigerians are not interested in that. Nigerians deserve to know what is happening. Nigerians are waiting for explanations on what happened to the money. It is, therefore, not ordinary political words being thrown about.”

Agoro added that Nigerians deserved to know more about the $62 billion left behind in the country’s foreign exchange reserve in 2007 when former President Obasanjo left office and the missing $20 billion crude oil money alleged by the former governor of the Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi.

This was contained in a document titled “The real price of change-the-change campaign (2)”, written and released by the senior special sssistant to the president on media and publicity, Garba Shehu.


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