The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed that the scale of corruption within Nigeria’s power sector is so vast that it would bring anyone to tears. Olukoyede made the revelation during an oversight visit by the House of Representatives Committee on Financial Crimes to the EFCC’s headquarters in Abuja on Tuesday, November 12.
The EFCC boss explained that the agency was currently investigating several cases related to corrupt practices within the electricity sector, noting that the depth of the fraud was shocking. “As we speak, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears,” he said.
Olukoyede went on to describe some of the fraudulent activities involved in power sector contracts. He highlighted the practice of awarding contracts for the supply of electricity equipment, only for contractors to deliver substandard materials. Specifically, he mentioned instances where contracts for the supply of high-quality equipment were awarded, but suppliers used cheaper, lower-grade materials instead. “People were awarded contracts to supply electricity equipment. Instead of using what they call 9.0 gauge, they will go and buy 5.0,” Olukoyede explained.
This dishonesty in procurement, according to the EFCC Chairman, is a significant factor in the persistent power failures across the country. “Every time you see the thing tripping off, the thing gets burnt, and all of that, it falters and it collapses. It’s part of our problems,” he added, underscoring the direct impact of these fraudulent activities on Nigeria’s already struggling power infrastructure.
The EFCC’s investigations into the power sector come at a time when Nigerians continue to face frequent electricity outages and inadequate power supply. The country’s power sector has long been plagued by issues of mismanagement, underinvestment, and corruption, with many citizens voicing frustration over the ongoing challenges.
Olukoyede’s comments have drawn attention to the severity of corruption within the sector, which continues to hamper efforts to improve electricity supply and address Nigeria’s energy crisis. The EFCC’s ongoing investigations could bring to light more details about the scale of the fraud and possibly lead to accountability for those responsible.
As the EFCC intensifies its efforts to tackle corruption, especially in critical sectors like power, the agency’s revelations are expected to further spark public debate about the need for deeper reforms and greater transparency in Nigeria’s energy sector.