$35M SPENT FROM NSIA: Melaye making ‘unverified allegations’ –Fashola

The Minister of Power, Works and Housing, Babatunde Fashola, says he suspects that there is an ulterior motive in the motion raised by Senator Dino Melaye accusing his ministry of spending $35 million out of the $350 million domiciled in the Nigerian Sovereign Investment Authority (NSIA).

The Kogi West Senator had in a motion he moved at the Senate plenary last Wednesday accused Fashola of spending the $35 million on power projects.

He further alleged that Fashola’s ministry is planning to secure the release of the $350 million domicile in the NSIA.

Subsequently, the Senate adopted the motion and ordered an investigation into the alleged plan by Fashola’s ministry to secure the release of the fund.

But reacting in a statement he personally signed, the minister described the claim by Melaye as ‘unverified allegations’ and wondered why there would not be a reconsideration of motion if there was no ulterior motive for the allegation.

He said, “With all emphasis, I state that there is no factual basis for the allegations. The ministry, my staff and I have done nothing wrong and we will collaborate fully with the investigating committee when called upon.”

Nothing that he was not a minister in 2013, the period for which the senator claimed the funds were received, Fashola argued that the duty of managing government debt like Eurobond is that of the Debt Management Office and not his ministry.

“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,” he said.

READ ALSO: Senate fumes at Fashola for spending $35m without approval, summons him

On the allegation that he spent $35 million on Afam Fast Power project, Fashola denied that and said work on the project kick started as an investment by a U.S. firm, General Electric, to boost power supply in the country.

He said, “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 per cent 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 on-going on the site – civil and engineering – preparing to receive the turbines , and install other equipment already at site.”

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