Senate vows to unravel disbursement of N213bn Power Intervention Fund

dimeji akinloye

December 17, 2016 6:31 PM

Saraki said the senate will verify claims and counter claims of non-remittance of revenues between the NBET, Discos) and Gencos.

Senate President, Bukola Saraki.

The President of the Senate, Dr

Saraki made this known in a statement signed by his Chief Press Secretary, Mr Sanni Onogu, on Saturday in Abuja.

Saraki, according to the statement, spoke during a special stakeholders’ meeting to proffer solutions to the worsening electricity generation in the country.

He said the upper chamber would verify claims and counter claims of non-remittance of revenues between the Nigeria Bulk Electricity Trading Company (NBET), Electricity Distribution Companies (Discos) and Generation Companies (Gencos).

Saraki urged the Senate Committee on Power, Steel Development and Metallurgy to conduct a public hearing on this funds as well as on the declining electricity generation which currently stood at 3,000 megawatts.

He said the public hearing should take a look at reasons behind the inability of the Bureau of Public Enterprises (BPE) to effectively supervise and audit the electricity generation and distribution companies.

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The president of the senate lamented "the poor electricity supply in Nigeria and the consequences of the negative development in the efforts to move Nigeria out of the present economic recession."

He called on stakeholders in the sector to work towards proffering solutions to the “imminent collapse of the electricity system in the country."

dimeji akinloye