LAGOS—Governor Babatunde Fashola of Lagos State, yesterday, faulted the the Federal Government’s claim of injecting N213 billion to assist some of the private companies who bought the power facilities aimed at addressing some challenges in the sector.
CELEBRATION: Lagos State Governor, Mr. Babatunde Fashola (3rd left), being presented with a horse by Chairman, Lagos State Community Development Advisory Council, LSCDAC, Alhaji Tajudeen Quadri (2nd left), Deputy Governor, Mrs. Adejoke Orelope-Adefulire (left), and others, during the 2014 Community Day celebration at the Police College Parade Ground, GRA, Ikeja, Lagos, yesterday.
CELEBRATION: Lagos State Governor, Mr. Babatunde Fashola (3rd left), being presented with a horse by Chairman, Lagos State Community Development Advisory Council, LSCDAC, Alhaji Tajudeen Quadri (2nd left), Deputy Governor, Mrs. Adejoke Orelope-Adefulire (left), and others, during the 2014 Community Day celebration at the Police College Parade Ground, GRA, Ikeja, Lagos, yesterday.
FG in September 2014 announced that the measure was to address financing related issues in the power sector, including a bailout facility to settle gas debts.
Fashola made the statement at the Year 2014 Community Day celebration, held at the Police College Parade Ground, Ikeja, which also had in attendance the Oba of Lagos, Oba Rilwan Akiolu I and representatives of community development committees, CDCs, from the 57 Local Government and Local Council Development Areas, LCDAs.
The governor lamented that this is not the Nigeria we planned for after independence in 1960, adding “at the moment, small nations are laughing at us.”
Fashola said: “When the Distribution and Generating Companies were taking over the facilities of the Power Holding Company of Nigeria, PHCN, the Federal Government told Nigerians that these private companies will inject new funds into the power sector. And that electricity supply will become better.
“Now the story has changed. It is the Federal Government that was now re-injecting funds into assets that it has sold to the private sector. What type of business model that was. We will wait for explanation.”
The governor equated the injection of the fund by the central government to “someone who sold his car and was also providing fund for the buyer to service it.’’
Commissioner for Rural Development, Cornelius Ojelabi, in his welcome address noted that collaborations between the CDCs and his ministry had facilitated rural development.
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