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SERAP: Obasanjo, Yar’Adua, Jonathan Govts Squandered N11tr On Electricity

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The Socio-Economic Rights and Accountability Project (SERAP) has released a new report which reveals how over N11 trillion meant to provide regular electricity supply was allegedly squandered under the governments of former presidents Olusegun Obasanjo, Umaru Musa Yar’Adua and Goodluck Jonathan.

The 65 pages report launched on Wednesday at the Westown Hotels, Lagos is titled: “From Darkness to Darkness: How Nigerians are Paying the Price for Corruption in the Electricity Sector”.

The report presented to the media by Yemi Oke, Ass. Professor, Energy/Electricity Law, Faculty of Law, University of Lagos, discloses that “the country has lost more megawatts in the post-privatisation era due to corruption, impunity, among other social challenges reflected in the report.”

According to the report, “The total estimated financial loss to Nigeria from corruption in the electricity sector starting from the return to democracy in 1999 to date is over Eleven Trillion Naira (N11 Trillion Naira). This represents public funds, private equity and social investment (or divestments) in the power sector. It is estimated that it may reach over Twenty Trillion Naira (N20 Trillion Naira) in the next decade given the rate of government investment and funding in the power sector amidst dwindling fortune and recurrent revenue shortfalls.”

The report shows: “The much-publicised power sector reforms in Nigeria under the Electric Power Sector Reform Act of 2005 is yet to yield desired and/or anticipated fruits largely due to corruption and impunity of perpetrators, regulatory lapses and policy inconsistencies. Ordinary Nigerians continue to pay the price for corruption in the electricity sector–staying in darkness, but still made to pay crazy electricity bills.”

The report also accuses Dr. Ransom Owan-led board of the Nigerian Electricity Regulatory Commission (NERC) of allegedly “settling officials with millions of Naira as severance packages and for embarrassing them with alleged Three Billion Naira (N3,000,000,000.00) Fraud. The authorities must undertake a thorough, impartial and transparent investigation as to the reasons why corruption charges were withdrawn, and to recover any corrupt funds.”

The report further called for the reopening and effective prosecution of corruption allegations, including the alleged “looting of the benefits of families of the deceased employees of Power Holding Company of Nigeria (PHCN) levelled against a former Permanent Secretary in the Ministry of Power, Godknows Igali.”

A senior lawyer, Mr Femi Falana, who chaired the report launch said: “This report is a must read, and I promise to lead in the follow-up litigation efforts to ensure the full implementation of the recommendations of the report.”

The report launch was also attended by Babatunde Irukera, the Director General/Chief Executive of the Consumer Protection Council (CPC); and Mr Ibrahim Magu, Chairman of the Economic and Financial Crimes Commission (EFCC) who was represented by Mr Osita Nwajah, Director Public Affairs EFCC.

Both agencies promised to work to ensure the full implementation of the recommendations contained in the report.

Others at the events are Barrister Babatunde Ogala; Dayo Olaide, Deputy Director Macarthur Foundation; Eva Kouka, Program Officer Ford Foundation; Motunrayo Alaka, Coordinator Wole Soyinka Centre for Investigative Journalism; representatives of the Independent Corrupt Practices and other Related Offences Commission (ICPC); the National Human Rights Commission, and the media.

The report reads: “The Obasanjo’s administration spent $10 billion on NIPP with no results in terms of increase in power generation. $13.278,937,409.94 was expended on the power sector in eight years while unfunded commitments amounted to $12 billion.”

“The Federal Government then budgeted a whopping N16 billion for the various reforms under Liyel Imoke (2003 to 2007) which went down the drains as it failed to generate the needed amount of electricity or meet the set goals. Imoke was alleged to have personally collected the sum of $7.8 million for the execution of the contract for the construction of the Jos-Yola Transmission Line, which was never executed. There were documented/reported allegations of corruption against Imoke that fizzled-out shortly thereafter.

“Professor Chinedu Nebo handed over the assets of the PHCN to private investors on November 1, 2013. Prof. Nebo is alleged to have corruptly funded the privatised power sector with over N200 Billion despite privatisation. The allegation of N200 Billion funding of the privatised power sector during Prof Nebo’s tenure should be thoroughly and transparently investigated and anyone suspected to be responsible prosecuted. Any corrupt funds should be fully recovered.
Source: Channelstv

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BREAKING: Senate to Engage US Lawmakers Over Alleged Christian Genocide in Nigeria

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By: Fabian Apechihin

The Nigerian Senate is set to engage with US lawmakers following renewed debate on alleged targeted attacks against Christians in the country.

The controversy intensified after American TV host Bill Maher, on his HBO program, described the situation as a “silent genocide,” accusing Western media of downplaying mass killings by Boko Haram, ISIS-West Africa, and Fulani militias. He cited claims that over 100,000 Christians have been killed since 2009 and thousands of churches destroyed.

Maher’s remarks were echoed by Republican Congresswoman Nancy Mace, who argued that the crisis had not received the international media attention it deserves.

Government Rejects Genocide Narrative
In response, Nigeria’s Minister of Information and National Orientation, Mohammed Idris, dismissed the claims as misleading and divisive. He emphasized that terrorist groups do not target Christians alone, insisting that Nigerians of all faiths—including Muslims and non-religious citizens—have suffered at the hands of violent extremists.

“Portraying Nigeria’s security challenges as a religious war is a gross misrepresentation of reality,” Idris said.

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Nigeria @ 65: The Worst Is Over, We’ve Turned a New Corner — Tinubu

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By: Fabian Apechihin

President Bola Ahmed Tinubu, in his Independence Day broadcast marking Nigeria’s 65th anniversary, assured citizens that the country has overcome its toughest challenges and is on the path to recovery.

Honouring the Founding Fathers

Tinubu paid tribute to the sacrifices of Nigeria’s independence leaders, including Herbert Macaulay, Nnamdi Azikiwe, Tafawa Balewa, Obafemi Awolowo, Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Michael Okpara, Aminu Kano, and Funmilayo Ransome-Kuti.
“They believed it was Nigeria’s manifest destiny to lead the black race as the largest black nation on earth,” he said.

Journey So Far

Reflecting on six decades of nationhood, the President noted that Nigeria had endured a civil war, military dictatorships, and political crises but survived with “courage and grit.”
“At Independence, Nigeria had only 120 secondary schools and two tertiary institutions. Today, we have over 23,000 secondary schools, 274 universities, 183 polytechnics, and 236 colleges of education,” he said, adding that the country had made “remarkable progress” in healthcare, telecommunications, aviation, and infrastructure.

Tough Reforms, Signs of Recovery

Tinubu said he inherited a fragile economy distorted by decades of poor policies but chose reform over inaction.
“Our administration ended the corrupt fuel subsidy regime and abolished multiple foreign exchange rates that enriched a few while impoverishing the majority,” he stated.
According to him, the measures are yielding results:

  • GDP grew by 4.23% in Q2 2025, the fastest in four years.
  • Inflation fell to 20.12% in August, the lowest in three years.
  • ₦20 trillion was realised from non-oil revenue by August.
  • Debt service-to-revenue ratio dropped from 97% to below 50%.
  • Foreign reserves climbed to $42.03 billion, the highest since 2019.
  • Oil output rebounded to 1.68 million barrels per day, while Nigeria refined petrol domestically for the first time in four decades.
  • The stock market surged from 55,000 points in May 2023 to 142,000 points by September 2025.

“The worst is over. Yesterday’s pains are giving way to today’s relief,” the President declared.

Tackling Insecurity

Tinubu said security agencies were making gains against insurgency, separatism, and banditry.
“Hundreds of communities have been liberated, with thousands of displaced persons returning home. We salute the gallantry of our armed forces,” he said.

Investing in Youth

Describing young people as Nigeria’s “greatest asset,” Tinubu highlighted ongoing programmes:

  • NELFUND Student Loans: ₦99.5bn disbursed to 510,000 students.
  • Credicorp Loans: ₦30bn given to 153,000 Nigerians for solar, housing, transport, and digital devices.
  • YouthCred: Credit support extended to NYSC members.
  • iDICE Programme: Partnership with AfDB, AFD, and IsDB to boost innovation in digital and creative sectors.

Call for Collective Effort

Acknowledging that reforms have caused temporary hardship, Tinubu urged Nigerians to remain steadfast.
“Our progress must not be measured by statistics alone, but by food on our tables, quality of education, electricity in our homes, and safety in our communities,” he said.

He called on citizens to embrace productivity, pay taxes, support local industries, and contribute to nation-building.
“The dawn of a new Nigeria is here — self-reliant, prosperous, and united. With God on our side, we will overcome. Let all hands be on deck,” he concluded.


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Bandit Kingpin Releases 28 Captives in Katsina Following Peace Deal

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A total of 28 persons abducted by suspected bandits in Faskari Local Government Area of Katsina State have been released without ransom following a peace arrangement with bandit kingpin.

The bandits, led by their commander identified as Isya Akwashi Garwa, handed over the captives to officials of the council on Wednesday.

Zagazola  reports that those released were largely residents of Mairua, Kanen-haki and Yar Dabaru communities.

Local authorities confirmed that the release was the outcome of a reconciliation effort initiated in the area to restore peace and reduce violent attacks.

Community leaders in Faskari described the development as a positive signal and urged both sides to sustain the peace process. They also urged the bandit to force other bandits still attacking in the area to stop.   

A council official, who spoke on condition of anonymity, said: “The captives were released this afternoon without any ransom being paid. The bandit leader fulfilled his promise under the peace talks,”he said.

Meanwhile, residents expressed relief at the safe return of the abductees, with some calling for stronger security guarantees to consolidate the gesture.

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