Power Projects: House C’ttee summons Finance Minister, Customs CG over waivers

By Tom Okpe

The House of Representatives Public Accounts Committee, (PAC) has summoned the Finance and Coordinating Minister of the Economy, Wale Edun and the Comptroller General of Nigeria Customs Service, (NCS) Bashir Adewale Adeniyi to explain their roles in the delay of several power projects in Nigeria.

Chairman of the Committee, Rep Bamidele Salam, (Osun-PDP) resolved to invite both the Minister and the CG of the Customs, at its resumed hearing, bothering on the procurement contracts involving several companies who were to embark on capital projects for the various electricity distribution companies in the accelerated transmission and distribution interface project.

Speaking at the investigative hearing, the Chairman, Salam disclosed that the Committee was beaming its searchlight on issues around the procedure for disbursement of loans and accessing the funds by the contractors as well as repayment pattern for the loans that the distribution companies received from the Central Bank of Nigeria, (CBN).

Recall that while making their presentations on the status enquiry/investigation on the projects worth $231,004,002.80 and N18,264,411,235.66, contractors including AAKS & Bros Ventures, Laga Cepower Limited, Bussdor & Company Limited, Elektron Petroleum Energy and Mining Limited, Skipper Nigeria Limited and a host of others heaped a lot of blames on the Federal Government and financial institutions for making it difficult for them to access the funds that were released for the projects.

The contractors in their presentations lamented that, “the inability to give them waiver had accounted for the reason while their equipment lies at the seaport for long and demurrage accumulated on them, thereby, adding extra burden to their contractual obligations.”

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Consequently a member of the Committee, Rep Zakaria Dauda Nyampa expressed dismay over plights of the contractors and moved a motion that both the Minister and the NCS boss be invited over the unfortunate development

He said: “Mr Chairman, with your kind support, I want to come up with a motion to summon the Nigeria Customs, CG and the Minister of Finance, to clarify on this challenge because, the issue of power sector affects everybody.

“It affects our economy as a nation and if these things are just being introduced, it is quite unfortunate.

“So, Mr. Chairman, I want to move that we invite them and still invite the Transmission Company of Nigeria, (TCN) to come and make same presentation.

“The contractors will also be here and everybody will know that some people are also part of our suffering in this country. I so move Mr. Chairman.”

The motion was unanimously supported, when it was put in to voice vote by Chairman of the Committee.

The Representatives of the Central Bank of Nigeria, (CBN) had said the Bank had already released the monies to the various banks that were provided by the contractors from where it was to go to just as he pointed out that he had visited a number of the projects and have a record that showed the various levels of status.

The Chairman also, said the only Chief Executives Officers and the accounting officers of the instructions were qualified to appear before the Committee because of the critical issues involved, waring that; “the agencies against delay in submission of relevant documents before the Committee.”