FG denies allegation of non-release of funds

The Federal Government has denied allegations that progress of work on power projects in the country was being hampered by the non-release of funds by the Federal Ministry of Finance.
A statement by the Ministry on Wednesday said the Federal Government has so far paid a total of N72.2 billion to the Federal Ministry of Power for implementation of the power road map.
The allegation made by the Chairman, House Committee on Power, Patrick Ikhariale, the statement said, is completely wrong and “tends to personalize an important national issue. It also betrays a limited understanding of the current status of power sector financing which the administration of President Jonathan has made a key priority in the implementation of the Power Roadmap.
“As stated in a news release issued on by the Ministry on May 23, the Federal Ministry of Finance has paid a total of N72.7 billion to the Federal Ministry of Power so far this year to cover various items in line with the implementation of the Power Roadmap
The statement said the amount includes the sum of N45 billion paid to PHCN workers as part of the power privatization programme and  also includes the sum of N5 billion paid for the Multi Year Tariff Order (MYTO).
“Other beneficiaries include the Power Ministry headquarters, Power Holding Company of Nigeria, National Rural Electrification Agency, National Electricity Regulatory Commission, National Power Training Institute, National Electricity Liability Management Limited/GTE (NELMCO) and Bulk Trader.
“A breakdown of the figures shows that N59,089,522,721 billion was paid in the first quarter while N13,733,822,832 has been paid so far in the second quarter”.

The statement added that against this background, the notion that the Coordinating Minister is personally responsible for current power supply challenges facing the country is absolutely wrong and cannot be justified by the facts.
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