No MDA executed 20% of capital projects, says EFCC amid push for power sector reforms 

By Collins Olayinka, Matthew Ogune (Abuja) and Waliat Musa (Lagos)
The Guardian: 13 November 2024

The Economic and Financial Crimes Commission (EFCC) has announced its intention to conduct a thorough investigation into allegations of mismanagement and corruption within Nigeria’s electricity sector.
● Olukoyede: Nigerians will shed tears over findings in power sector investigation

The Economic and Financial Crimes Commission (EFCC) has announced its intention to conduct a thorough investigation into allegations of mismanagement and corruption within Nigeria’s electricity sector.
EFCC Chairman, Mr Ola Olukoyede, revealed this development yesterday during a meeting with members of the House of Representatives Committee on Anti-Corruption at the commission’s headquarters in Abuja.

Olukoyede expressed serious concern over the persistent challenges plaguing the sector and assured the committee that the EFCC is committed to uncovering any financial improprieties.
He further stated that the findings of the investigation, once released, would be quite revealing and potentially shocking to the Nigerian public.

“You cannot develop as a nation without infrastructural progress. As I speak, we are still grappling with electricity challenges,” Olukoyede said. “If you see the investigations we are conducting in the power sector, you will shed tears. Contracts are being awarded to supply 9.5-gauge cables, yet contractors go on to purchase 5.5-gauge cables. This is why equipment frequently trips and burns out, which is affecting our budget.”

Olukoyede revealed that the commission has deployed officers from its newly established Fraud Risk Assessment Directorate to collaborate with the Office of the Accountant General of the Federation (OAGF). This partnership aims to scrutinise disbursements to the power sector and assess the implementation of capital projects.

He further disclosed that the EFCC has uncovered a worrying trend: Over the past 20 years, no Ministry, Department, or Agency (MDA) of government has executed up to 20 per cent of capital projects outlined in their budgets. He identified this lack of project implementation as a significant hindrance to the country’s infrastructural development.

“In the past two decades, capital project execution has not exceeded 20 per cent,” Olukoyede said. “If we can achieve 50 per cent implementation yearly, the nation would make considerable progress. This year, our mandate is to work with the OAGF, the National Assembly, and relevant directorates to push for higher execution rates.”

Stressing the EFCC’s dual focus on enforcement and prevention, he noted that the newly established Fraud Risk Assessment Directorate would audit MDAs to ensure that allocated funds are properly utilised.
Olukoyede further disclosed that since October last year, the commission has received over 70,000 petitions, investigations into more than 20,000 cases are ongoing, and over 4,800 new cases have been opened.