The Minister of Power, Adebayo Adelabu, on Monday, refuted claims that ₦128 billion allegedly unaccounted for in the power sector went missing during his administration.
Responding to calls by the Socio-Economic Rights and Accountability Project (SERAP) for a probe, Adelabu stressed that the audit report in question predates his appointment.
“While the Honourable Minister of Power, Chief Adebayo Adelabu, has no objection to calls for investigation, it is important to clearly state that he was appointed in August 2023, whereas the audit report in question relates to the 2022 financial year,” his media aide, Bolaji Tunji, said in a statement.
Adelabu urged SERAP to avoid “baseless speculation,” adding:
“Consequently, the issues raised in the referenced audit report pertain entirely to a period before the minister’s tenure. The call for an investigation, therefore, has no bearing on the operations or financial activities of the Ministry under the current administration.”
He reaffirmed his commitment to accountability:
“The Office of the Honourable Minister reaffirms its commitment to transparency and accountability and will cooperate fully with any legitimate process aimed at addressing legacy issues in the power sector, while remaining focused on its mandate of delivering stable and reliable electricity to all Nigerians.”
SERAP, however, insisted that the allegations point to systemic failures in governance. In its letter to President Bola Tinubu, the organisation said:
“Nigerians continue to pay the price for the widespread and grand corruption in the power sector. There is a legitimate public interest in ensuring justice and accountability for these grave allegations.”
The group further urged that any recovered funds be used to ease Nigeria’s debt burden:
“We urge you to use any recovered diverted funds to fund the deficit in the 2026 budget and to ease Nigeria’s crippling debt crisis.”
According to excerpts from the Auditor-General’s report cited by SERAP, the Ministry of Power allegedly failed to account for ₦4.4bn transferred to project accounts, ₦95.4bn paid to contractors without documentation, and ₦33.5m spent on foreign travel without proper approval.
SERAP warned:
“These allegations suggest a grave violation of the public trust, the Nigerian Constitution 1999 (as amended), the country’s anticorruption legislation and international anticorruption obligations.”
