Headline

$16bn on Power: Buhari’s Statement Without Correct Information, Based on Ignorance – Obasanjo

Published

8 years ago

May 22, 2018

Eric

A former President, Chief Olusegun Obasanjo, says he is ready for probe over the recent news report quoting President as asking where was the power the former president claimed he had spent $16bn on.

This was contained in a statement credited to Obasanjo’s media aide, Kehinde Akinyemi, released in Abeokuta on Tuesday evening.

Obasanjo had said in the statement that this was not the first time such question would be asked as the immediate past administration before Buhari had done the same thing.

He said all the enquiries and probes carried out had vindicated him and cleared him of any corrupt acts concerning the $16bn spent on power during his administration.

He said Buhari was merely re-echoing unsubstantiated allegation by the previous administration based on ignorance.

Obasanjo also directed those who want to know how the $16bn on power was spent to his three-volume book ‘My Watch’ for a comprehensive analysis.

However, he said if they were not satisfied with his acquittal by the various probes by the Economic and Financial Crimes Commission and National Assembly Ad-hoc Committee on the Review of the Recommendations in the Report of the Committee on Power on the project, he was ready for yet another round of a probe.

The statement read, “It has come to the attention of Chief Olusegun Obasanjo that a statement credited to President Muhammadu Buhari, apparently without correct information and based on ignorance, suggested that $16 billion was wasted on power projects by a former President.”

“We believe that the President was re-echoing the unsubstantiated allegation against Chief Obasanjo by his own predecessor but one.

“While it is doubtful that a President with proper understanding of the issue would utter such, it should be pointed out that records from the National Assembly had exculpated President Obasanjo of any wrong-doing concerning the power sector and has proved the allegations as false.

”For the records, Chief Obasanjo has addressed the issues of the power sector and the allegations against him on many occasions and platforms, including in his widely publicised book, My Watch, in which he exhaustively stated the facts and reproduced various reports by both the Economic and Financial Crimes Commission, which conducted a clinical investigation into the allegations against Chief Obasanjo, and the Ad-Hoc Committee on the Review of the Recommendations in the Report of the Committee on Power on the Investigation into how the Huge Sums Of Money was Spent on Power Generation, Transmission And Distribution between June 1999 and May 2007 without Commensurate Result.

“We recommend that the President and his co-travellers should read Chapters 41, 42, 43 and 47 of My Watch for Chief Obasanjo’s insights and perspectives on the power sector and indeed what transpired when the allegation of $16 billion on power projects was previously made.”

The Punch

Headline

Mike Adenuga, Emmanuel Macron Hold High-Powered Meeting in Paris

Published

1 hour ago

December 18, 2025

Eric

Accomplished billionaire businessman and Commander of the French Légion d’Honneur, Dr. Mike Adenuga Jr., GCON, CdrLH, has held a private meeting with the French President, Emmanuel Macron.

The two powerful citizens of the world held the meeting on Wednesday at the historic Élysée Palace in Paris.

The high-level engagement underscores the longstanding relationship between Dr. Adenuga and the French Republic, as well as his continued relevance in global business and diplomatic circles.

A respected industrialist and philanthropist, Adenuga has been widely acknowledged for his contributions to economic development, telecommunications, energy, and humanitarian causes across Africa and beyond.

The meeting adds to Dr. Adenuga’s growing profile as a bridge between African enterprise and international leadership.

Headline

Free at Last: Burkina Faso Releases 11 Nigerian Soldiers, Aircraft

Published

1 hour ago

December 18, 2025

Eric

Burkina Faso has released Nigerian soldiers who were detained after their aircraft made a forced landing in the Sahelian country earlier this month, Nigerian officials said.

The release followed a diplomatic intervention by President Bola Tinubu, who dispatched a high-level delegation led by the Minister of Foreign Affairs, Yusuf Tuggar, to meet Burkina Faso’s Military Leader, Ibrahim Traoré, on Wednesday.

In a statement, Alkasim Abdulkadir, Tuggar’s spokesperson, said both sides resolved the matter amicably and secured the release of the Nigerian Air Force pilots and crew.

The soldiers had been held for nearly two weeks after the Confederation of Sahel States (AES) described the aircraft’s landing as an “unfriendly act” carried out in defiance of international law.

The Nigerian Air Force, however, said the crew encountered a technical issue that required a precautionary landing in Bobo-Dioulasso, the nearest available airfield. It said the landing complied with standard safety procedures and international aviation protocols.

Headline

Corruption Allegations: NMDPRA Boss Farouk Ahmed Meets Tinubu, Resigns

Published

15 hours ago

December 17, 2025

Eric

The Chief Executive Officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has resigned following a meeting with President Bola Tinubu amid corruption allegations.

Tinubu, on Wednesday, summoned Ahmed to the Presidential Villa in Abuja, following allegations of economic sabotage and corruption.

Also caught in the web of resignation was the CEO of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, according to a statement on Wednesday by Bayo Onanuga, special adviser to the president on information and strategy.

Tinubu was said to have nominated successors to the senate for approval.

“Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC),” the statement reads.

“The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC.

“Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).

“To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.”

Onanuga said the two nominees are seasoned professionals in the oil and gas industry.