Dino Melaye Accuses Fashola’s Ministry Of Squandering $385m

Dino Melaye, Senator of the All Progressives Congress, APC, representing Kogi West, on Thursday accused the Ministry of Power, Work and Housing headed by Babatunde Fashola, of squandering $385 million on projects not appropriated in the budget between 2013 and 2016.


Senator Melaye, speaking on the floor of the Senate, alleged that the Power Ministry had committed “monumental fraud”, explaining that $300 million of the fund was given to IBEX while another $35 million was paid to General Electric and some others.

“Mr. President, in line with the anti-corruption posture of this chamber and especially now that our cries, observations are yielding dividends as expressly manifested in the case of Babachir Lawal, today, I bring to the attention of this Senate a monumental fraud in the power sector.

“In July 2013, the Federal Government raised $1 billion from Eurobond issue. From the proceeds, $350 million was given to IBEX in 2014.

“Mr. President, this money was stolen in installments. As I speak to you, sometimes last year again, the Ministry of Power came up with a term they call fast power. This indigested project is supposed to build new generating plants to add power to our grid.”

He sought the leave of the Senate to present a substantive motion on the issue while asking questions on how the Ministry spent the funds it received.

The Senate President, Bukola Saraki asked Mr. Melaye to present the issue as a motion on Tuesday after a voice vote in its favour.

Credit: The Independent