The Minister of Power, Works and
Housing, Babatunde Fashola, has condemned what he described as ‘unverified
allegations’ raised by a senator against his ministry.
Dino Melaye, the senator
representing Kogi West, had accused the ministry of mismanaging funds to the
tune of $35 million and another attempt to break away with $350 million
Eurobond.
Reacting to the allegations, the
minister in a statement personally signed on Thursday, said he would cooperate
with the Senate as he and his staff has done nothing wrong in management of the
said fund.
“With all emphasis, I state that
there is no factual basis for the allegations,” he said.
“The ministry, my staff and I
have done nothing wrong and we will collaborate fully with the investigating
committee when called upon,” he added.
He alleged an ulterior motive in
the presentation of the allegations, as the senator made different allegations
while raising it as a petition, and later as a motion.
“The Nigeria Sovereign Investment
Authority (NSIA) had on Monday, 6th November 2017 issued a statement on the
front page of The Nation Newspaper explaining that the money was not missing,
stating also that the $350 million had been invested and that interest had even
accrued on the money.
“If there was no ulterior motive
for the allegation, this was enough reason for a reconsideration of the
presentation of the motion on the floor of the Senate on the 8th of November
2017.
“But the story seemed to have
changed from “missing money” last week, to a “desperate attempt to retrieve the
money “, this week.”
“They offered to do this by
providing Nigeria with mobile turbines of 600MW if we could find a location
with Gas and Transmission evacuation infrastructure. The Afam Power Station
fitted because it had transmission and evacuation facilities but all its
turbines had been virtually run down.
“The investment was contingent on
paying $27,990,000 million which was 15% of 8 (eight) units of 30MW turbines
each totalling 240MW valued at about $186,600,000:00.
“This payment of $27.9m was made
without breaching any law.
“At this moment, the turbines
have arrived Nigeria and currently at the Onne Port. This is verifiable just as
works are ongoing on the site – civil and engineering – preparing to receive
the turbines , and install other equipment already at site.”
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