Speaker of the House of Representatives, Yakubu Dogara
The House of Representatives yesterday rejected the plan by the
Ministry of Power, Works and Housing to raise a federal government
secured bond of N309 billion to cover the electricity market shortfall
of N187 billion in 2015 and a projected shortfall of N122 billion for
2016, Vanguard reports.
The report reveals that Speaker, Yakubu Dogara, rejected the move
because it is believed the bond would amount to spoon feeding operators
in the power sector where tariffs had been increased twice since 2013
without noticeable improvements in electricity generation.
The plan was rejected through a motion titled “Urgent need to
halt the plan to raise a federal government secured Bond of N309 billion
to finance the outrageous shortfall in the Nigerian Electricity Market”,
sponsored by Edward Gyang Pwajok representing South/Jos East Federal
Constituency of Plateau State on the platform of the Peoples Democratic
Party, PDP.
The House in its resolution also mandated its Committees on Power,
Privatisation and Commercialisation, Aids, Loans and Debts Management to
investigate the usage of the N213 billion intervention fund provided by
the Central Bank of Nigeria in 2015 through the Nigerian Electricity
Sector Intervention facility.
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