The Minister of Power, Works and Housing, Babatunde Fashola, has reacted to allegations that his ministry mismanaged funds to the tune of $35 million.
He described the allegations which was presented by Dino Melaye, the senator representing Kogi West, as ‘unverified’, stating that neither himself, his staff and his ministry have done nothing wrong.
In a statement he personally signed, the minister said he would cooperate with the Senate whenever he was called upon for questioning.
“With all emphasis, I state that there is no factual basis for the allegations,” he said.
“The ministry, my staff and I have done nothing wrong and we will collaborate fully with the investigating committee when called upon.
“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.”
“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% 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.”