Grid collapses: EFCC probes contracts awarded in power sector

The Economic and Financial Crimes Commission (EFCC) has disclosed that it has initiated probe into contracts awarded in the power sector while attributing Nigeria’s unreliable electricity supply and persistent grid collapses to corruption within the sector.

Ola Olukoyede, Chairman of the EFCC said this during the visit of the House Committee on Anti-Corruption and Financial Crimes to the commission’s headquarters in Abuja.

According to Olukoyede, EFCC investigations revealed that contractors awarded projects to supply electrical equipment frequently resorted to substandard materials. He identified this as the primary reason for the country’s unstable power supply, explaining that these “dubious” practices were a major cause of recurring equipment failures, power outages, and grid collapses.

He warned that, under such circumstances, Nigeria would struggle to achieve infrastructural or any meaningful growth.

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“As I am speaking to you now, we are grappling with electricity issues. If you see some of the investigations we are carrying out within the power sector, it would make you cry.

“People awarded contracts to supply electricity equipment, instead of using what is called a 9.0 gauge, will opt for a 5.0 gauge. So, every time you see equipment tripping off or burning out, it’s a part of our problem”, he said.

Olukoyede further disclosed that the commission had uncovered alarming inefficiencies in Nigeria’s capital project implementation over the past two decades, noting that less than 20% of capital projects had been executed.

“We discovered that in the last 15 to 20 years, we have not achieved up to 20 per cent in capital project implementation and execution. How can we expect infrastructural development or national growth under such conditions?” he queried.

The EFCC Chairman expressed hope that with increased collaboration with the National Assembly and the relevant directorates, Nigeria could reach a 50% execution rate in capital projects this year.

“If we can achieve 50 per cent, it will make a significant difference. The lack of implementation in capital projects and budgets is one of our major issues. If we can effectively tackle this, we will make progress as a nation. So, we are committed to seeing this through, with your support,” he added.