The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, spoke on Tuesday about the ongoing problems with electricity supply in Nigeria. He believes that corruption in the power sector is a significant reason for the unreliable electricity that many Nigerians experience.
During a visit from the House Committee on Anti-Corruption and Financial Crimes to the EFCC’s headquarters in Abuja, Olukoyede mentioned that the investigations the commission has been conducting into the power sector have revealed shocking findings that could make people very upset. He explained that many contractors who are given contracts to supply electrical equipment are cutting corners by using cheap, low-quality materials instead of the high-quality ones they are supposed to provide.
For example, he pointed out that when contractors are supposed to supply a certain type of electrical wire, they often buy a cheaper, inferior version. This practice leads to frequent breakdowns of electrical equipment, power outages, and even complete failures of the electricity grid. Olukoyede said, “Right now, we are struggling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears.”
He also highlighted a significant issue regarding the progress of infrastructure projects in Nigeria. According to his findings, over the past 15 to 20 years, the country has completed less than 20 percent of the capital projects that were planned. This lack of progress in implementing important projects is hindering the country’s growth and development. He stated, “If we don’t do that, how do you want to have infrastructural development? How do you want to grow as a nation?”
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Olukoyede expressed a goal for the current year: to work with the National Assembly to increase the execution rate of capital projects to at least 50 percent. He believes that achieving this target would significantly benefit the country, as the failure to implement these projects is one of Nigeria’s major challenges.
Additionally, he shared that the EFCC has received over 17,000 complaints about corruption and is currently investigating more than 20,000 cases. With a workforce of fewer than 5,000 people, the EFCC is handling a massive number of cases, including thousands that are already in court.
During the meeting, the chairman of the committee, Obinna Onwusibe, urged the EFCC to work more closely with the judicial system to speed up trials for suspects and reduce the number of people who are in jail waiting for their court dates. He emphasized that justice delayed is justice denied, stressing the importance of a well-functioning legal system.
Onwusibe also called for the EFCC to operate with greater transparency and accountability. He mentioned concerns that some people believe the agency is being used for political purposes rather than focusing solely on fighting corruption, and he urged the EFCC to address this perception.
