- Olukoyede Details Investigation Findings to Lawmakers, Unveils Shocking Mismanagement
- Faulty Contracts, Substandard Equipment Among Key Issues Causing Power Failures
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has highlighted the severe extent of corruption within Nigeria’s power sector, describing it as shocking and distressing.
Speaking during an oversight visit by the House of Representatives Committee on Financial Crimes at EFCC headquarters in Abuja on Tuesday, November 12, Olukoyede explained the grim realities uncovered in the Commission’s investigations.
“The situation in the power sector is heartbreaking. If you see some of the investigations we are conducting, you’d be moved to tears,” Olukoyede stated.
He detailed how contracts intended to improve electricity infrastructure have been mismanaged.
“People were awarded contracts to supply critical electricity equipment, but instead of using 9.0 gauge materials as required, they used 5.0,” he explained.
This use of substandard materials results in frequent equipment failures and grid instability, contributing to Nigeria’s ongoing power issues.
Olukoyede emphasized that these corrupt practices are a major factor in the country’s persistent power failures, with faulty installations causing regular breakdowns.
