Power
Revelation emerged Wednesday that the country has lost over N11 Trillion Naira to corruption in the electricity sector since the return of Nigeria to democracy in 1999. The revelation was contained in a report titled: “From Darkness to Darkness: How Nigerians Are Paying the Price for Corruption in the Electricity Sector”, released in Lagos from findings carried out by the Socio-Economic Rights and Accountability Projects, SERAP.
The research was supported by MacArthur Foundation. In the 64-page hold no bear report released, the organisation detailed how Nigeria and Nigerians are being ripped off from corrupt practices embedded in the electricity sector, which it said must be tamed to avoid total calamity in the country’s economic sector.
The report revealed that the country may witnessed a total estimated loss of N20 trillion from corruption in the sector in the next decade if urgent steps are not taken.
Aug 9, 2017 @ 18:40 GMT
Tags:
