Nigeria In One Minute

Revealed: Who got what in $16b Obasanjo power deals

FORMER President Olusegun Obasanjo’s administration spent about N1.2 trillion on the controversial National Integrated Power Projects (NIPP), an Economic and Financial Crimes Commission (EFCC) report has said.

But only N360.7billion had been paid to the contractors — as at 2007 when Obasanjo exited power.

The administration also spent N273.65billion on Power Holding Company of Nigeria from 1999 to 2007.

According to the report, which was compiled using the naira, 27 companies got the contracts for transmission lines.

The Nation, May 24, 2018

 

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