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How OBJ, Yar’Adua, Jonathan spent N2.74 trillion on power sector
IT emerged on Tuesday that Nigeria has spent the sum of N2.740 trillion on the power sector in the last 16 years.
While the Permanent Secretary, Ministry of Power, Ambassador Godknows Igali, had told the Senate ad hoc committee investigating the power sector that the Ministry of Power spent the sum of N948 billion since 1999, the Managing Director, Niger Delta Power Holding company (NDPHC), Mr James Olotu, also said that the National Independent Power Project (NIPP) activities funded from the Excess Crude Account had gulped $8.23 billon (about N1.640 trillion).
Igali also told the Senate committee that former military heads of state, who administrated the country from 1983 to 1999, failed to recruit engineers for the power sector throughout the period.
The committee, headed by Senator Abubakar Kyari, was inaugurated two weeks ago by the Senate President, Dr Bukola Saraki, who charged members to probe into the sources of darkness in the country.
Igali told the committee that though the sum of N1.6 trillion was appropriated to the Ministry of Power within the period, the sum of N948 billion was eventually released.
He also stated that the sum of N155 billion was released to the ministry to cushion the effects of the shortfalls in expenditure for the sector between 2009 and 2013.
Speaking at the hearing, Igali said that out of 79 power generation units existing at the time, only 19 were functioning, adding that no new power plant was built between 1991 and 1999.
He stated that former president, Chief Olusegun Obasanjo, brought life to the power sector, as the sector had largely depreciated with no new engineers when democracy returned in 1999.
Despite the effort at investment by government, we have not been able to invest in a consistent manner in the power sector.
“Investment from government and the private sector must go up gradually but consistently, as flunctuation will not help in our economic development.
“I do know that despite government’s effort at funding power sector, the nation continues to experience epileptic power supply, however, it takes time to stabilise,” he said.
According to the permanent secretary, power generation stood at 1,750 megawatt in 1999 when Obasanjo took over.
He gave the breakdown of the appropriated funds released to the ministry from 1999, saying that in 1999, N11,205,842,051 was appropriated, but N6,697,964,119 released; in 2000, N59,064,381,817 was appropriated, N49,784,641,521 released; in 2001, N103,397,000,000 was appropriated, with N70,927,000,000 released; in 2002, N54,647,252,061 was appropriated, N41,196,117,172 released; in 2003, N55,583,099,000 was appropriated and N5,207,500,000 was released.
He continued that in 2004, N54,647,252,061 was appropriated, N54,647,252,061 was released; in 2005, N90,282,833,404 was appropriated, N71,888,606,274 released; in 2006, N74,308,240,085 was appropriated, N74.3 billion released; in 2007, N100 billion was appropriated, N99.8 billion released; in 2008, N156 billion appropriated, N112 billion released and in 2009, N89.5 billion was appropriated, with N87 billion released.
He added that in 2010, N172 billion was appropriated and N70 billion released; in 2011, N125 billion was appropriated, N61 billion released; in 2012, N197.9 billion was appropriated and N53.5 billion released; in 2013, N146 billion was appropriated and N49 billion released; in 2014, N69.8 billion was appropriated and N48 billion was released, while in 2015, N5,240,000,000 was appropriated, with no money released.
He also gave a breakdown of the N155 billion intervention fund released to the ministry, adding that the ministry got a total sum of N30.8 billion in 2009, N43.2 billion in 2010, N37.0 billion in 2011; N11.5 billion in 2012 and the sum of N32.6 billion in 2013.
He told the committee that the nation was experiencing increased power generation as the pipeline vandals had stemmed their activities.
According to him, Nigeria’s electricity generation had risen to 4,600 megawatts from 3,500 megawatts in 2013.
He disclosed that the rise in generation capacity was due to the reduction in the degree of vandalism of power pipelines.
The Permanent Secretary also stated that only 2,000 former workers of the defunct Power Holding Company of Nigeria (PHCN) were yet to be paid their severance allowance, as, according to him, many of those who claimed to have worked with the National Electric Power Authority (NEPA) had no valid documents to prove their claims.
He also said the Bureau of Public Enterprises (BPE) used the proceeds of privatisation of the sector to settle claims of over 46,000 workers through the office of the Accountant General of the Federation and Pension Commission.
The committee, however, expressed worry over the failure of the government to ensure that the local governments were represented on the board of NIPP, though the councils were also part of the sponsors of the project.
The committee also asked the permanent secretary to submit the detailed audit report of the ministry, to allow it tidy some of the inconsistencies in submissions.
While inaugurating the committee two weeks ago, Senator Saraki had mandated it to get to the roots of the persistent blackouts in the country, despite huge financial commitments to the power sector.
Committee of the chairman, Senator Kyari, had also assured the Senate that the task would be taken seriously, adding that the committee would interact with all stakeholders to determine the cause of the nation’s electricity woes.
“A close look at the entire power value chain (generation, transmission and distribution) calls for review of our policies, in order to obtain optimum performances across the board.
“The abysmal performance of the generation segment is no longer news, in view of the current deteriorating power supply which hovers around 4,600 megawatts for a population of over 170 million people, despite the huge resources committed into it.
“This compared with our contemporaries is highly regrettable. No wonder so many companies have relocated from the shores of this nation, due to increasing cost of production.
“The issue of turn-around maintenance, gas pipeline vandalism, just to mention but a few, are some of the teething problems bedeviling the sector. We must address it now in order to stem this destructive tide. The committee will beam its searchlight in this direction to put things in proper perspectives.
“Having realised that the transmission segment is the major linkage between the generation and distribution fronts, increasing our capacity in this direction is also very necessary, since power produced must be utilised immediately.
“Deteriorating infrastructure in this segment must be addressed forthwith. The committee attaches great importance to this and would work assiduously in ensuring that all these leakages or slippages in this area are brought to the front burner and dealt with,” the committee chairman had said.
Tribune
At least 23 people were killed in a series of suspected suicide bombings, police in Nigeria’s northeastern city of Maiduguri said on Tuesday.
More than 100 other people were injured in the blasts that took place on Monday evening in the capital of Nigeria’s restive Borno state.
No group has claimed responsibility for the suspected attacks.
The deadly blasts come after a military post was attacked overnight Sunday to Monday, which authorities blamed on suspected Islamist militants.
This sad incident is coming barely two weeks after Primate Elijah Ayodele, the Leader of INRI Evangelical Spiritual Church specifically warned against attacks in some states. He mentioned these states while calling on security operatives to pay close attention to them.
These were his words:
“Another attack is coming up in these following states where the military must watch carefully and intelligently; Kano, Kaduna, Zamfara, Kebbi, Niger, Borno, Kwara and Kogi state. They want to do a deadly attack, it’s preventable but it depends on how they will handle it. I have told you about the danger coming up.”
@primateayodele
Unfortunately, some of our military agencies don’t believe spiritual intelligence can save the country from so much danger hence, their neglect of this prophetic warning but now, it has been fulfilled with the miliary losing credibility by the day while Primate Ayodele continues to gain momentum.
Likewise, At least 26 passengers and crew sustained varying degrees of injuries on Monday following an accident involving the Kaduna–Abuja train, according to the Nigerian Railway Corporation (NRC).
Opeifa explained that the train departed Rigasa in Kaduna at 7:15 a.m. and was approaching Asham station around 9:16 a.m. when a loud bang was heard after the power car and trailing locomotive collided with one of the passenger coaches.
In July 2025, Primate Ayodele asked nigerians to pray not to see train mishap on the Kaduna-Abuja route.
@primateayodele #nigeriantiktok🇳🇬 #fulfillment #train #abuja #primateayodele
“Let’s pray not to see train mishap in Abuja-Kaduna, Kaduna-Abuja route.”
This has also been fulfilled.
The project ends decades search for investors, boosts Nigeria’s blue economy
By Prince Adeyemi Shonibare
Nigeria’s maritime sector is set for a major transformation following a landmark agreement involving the world’s largest container shipping company, Mediterranean Shipping Company (MSC), which has secured a 45-year concession to build, manage and operate a modern container terminal at Snake Island Port in Lagos.
The project, to be developed in partnership with Nigerdock, marks one of the most significant private sector investments in Nigeria’s port infrastructure in recent decades and is expected to strengthen the country’s role as a major maritime gateway in West and Central Africa.
For Nigeria, the agreement brings to close decades of efforts to attract large-scale investors to develop Snake Island Port, a strategically located maritime asset in Lagos.
Long-standing concession history
Snake Island’s maritime facilities date back several decades. In 1992, the Federal Government granted a 99-year concession for the island’s port and industrial facilities to Nigerdock, a major maritime engineering and logistics company.
Nigerdock was later privatised and is currently operated by the Jagal Group owned by Nigerian industrialist Maher Jarmakani.
Over the years, the Island Container Terminal fell into disrepair, requiring major rehabilitation and modernization to meet modern global shipping standards.
The new partnership with MSC is expected to transform the port into a state-of-the-art container handling facility capable of attracting larger vessels and increasing Nigeria’s cargo throughput capacity.
Buhari administration approved the project.
The investment framework for the Snake Island development was approved in May 2023 by the Federal Executive Council under then President Muhammadu Buhari.
The approval authorised total private investment of approximately $974.1 million for the project under a Public-Private Partnership structure, including the 45-year concession period.
At the same time, the Federal Government also approved two other major maritime infrastructure projects:
• Development of the Ondo Multipurpose Port in Ilaje, Ondo State, with $1.48 billion in private investment and a 50-year concession.
• Expansion and development of the Burutu Sea Port in Delta State, involving $1.2 billion in private investment and a 40-year concession.
These projects form part of Nigeria’s broader effort to develop its blue economy and expand maritime trade capacity.
Construction partners
Engineering and construction of the Snake Island container terminal will be handled by:
• ITB Nigeria Limited
• DEME Group
ITB Nigeria Limited is part of the Chagoury Group and owned by the Chagoury family, while DEME Group is a globally recognised Belgian marine engineering and dredging company with extensive experience in port construction.
MSC profile
Founded in 1970 by Italian shipping entrepreneur Gianluigi Aponte and his wife Rafaela Aponte-Diamant, MSC has grown from a single cargo vessel into the largest container shipping company in the world.
Headquartered in Geneva, Switzerland, the company operates in more than 155 countries and serves over 500 ports worldwide, with a fleet of roughly 900 container ships and over 200,000 employees globally.
The MSC Group also operates major logistics and maritime businesses including inland logistics through Medlog, cruise tourism through MSC Cruises, and port terminal operations across several continents.
According to Forbes, the estimated net worth of MSC founder Gianluigi Aponte is about $43.9 billion as of February 2026, placing him among the world’s richest shipping magnates. The company remains privately owned by the Aponte family, with both founders holding equal ownership stakes.
Management comments
Speaking on the development, MSC Group President Diego Aponte said the company is committed to strengthening its operations in Nigeria and across Africa.
“We are proud to expand our presence in Nigeria through this important infrastructure project. The Snake Island terminal will enhance service delivery and improve port efficiency for our customers and partners in the region,”
Chief Executive Officer of Nigerdock, Maher Jarmakani, described the agreement as a major milestone for the Nigerian maritime sector.
“We are delighted to partner with MSC in developing a world-class container terminal that will enhance Nigeria’s logistics capabilities and support economic growth,” he said.
Economic impact
Industry analysts say the project could significantly strengthen Nigeria’s maritime economy by expanding cargo handling capacity, reducing congestion at Lagos ports and attracting additional international shipping traffic.
The development is also expected to create thousands of direct and indirect jobs across maritime operations, logistics, transport services and port-related commercial activities.
Infrastructure expansion
Beyond the port development, plans are also underway for Nigeria’s first underwater tunnel, linking Ahmadu Bello Way in Victoria Island through Snake Island and connecting the Lagos-Calabar Coastal Highway with the Sokoto-Badagry Superhighway corridor through Badagry.
The tunnel project is expected to significantly improve freight movement and road connectivity between Lagos ports and national transport networks.
Strategic milestone
With the entry of MSC into the Snake Island development, industry observers say Nigeria is taking a significant step toward modernizing its maritime infrastructure and positioning itself as a regional hub for global shipping and trade.
For a project that has waited for decades for major international investors, the Snake Island concession represents a turning point in Nigeria’s port development strategy and a strong signal of global confidence in the country’s maritime future.
By Prince Adeyemi Shonibare
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