Reps probe power privatisation
The House of Representatives yesterday began the process of investigating the alleged “non-transparent and fraudulent” sale of power assets by the Bureau of Public Enterprises (BPE).
The House, while adopting a motion by Rep Chike Okafor (APC, Imo) resolved to set up an adhoc committee to carry out the investigation to determine if there were malpractices and misconduct in the exercise.
The committee would also ascertain whether there was appropriate value for money in the exercise and determine if any person breached the law.
Additionally, the House resolved to recommend changes in the process of selling government assets and the existing laws, if any, “in order to protect the interests of the Nigerian people.”
Chike in his motion noted that the sale of the power sector assets carried out few years ago by the BPE fell short of the prescribed criteria by enabling laws guiding the activities of the enterprise in the privatization process, which he said also breached international best practices.
He said: “...there is an apparent lack of due process in the alleged payment of N23 million on contract awarded to Manitoba Hydro International (MHI) of Canada to manage the Transmission Company of Nigeria (TCN) for three years.”