Atiku challenges Tinubu’s government to prosecute him over alleged $16 billion spent on power under Obasanjo

Former Vice President and presidential aspirant of the African Democratic Congress (ADC) Atiku Abubakar has challenged the Bola Tinubu administration to investigate and prosecute him if the administration has evidence linking him to the alleged spending of $16 billion on the country’s power sector under the Olusegun Obasanjo administration.

Atiku, in a Wednesday statement issued by Senior Special Assistant for Public Communications, Phrank Shaibu,
accused the President Bola Tinubu-led government of recycling old allegations to divert attention from questions regarding the use of revenue saved from the removal of petrol subsidies.

He said the reemergence of allegations surrounding power sector projects, privatization and public assets was an attempt to divert public attention from the economic difficulties facing Nigeria.

Olusegun Obasanjo’s government allegedly spent around $16 billion on the power sector, an issue that became the subject of a House of Representatives investigation after he resigned from office in 2007.

In 2008, the Umaru Yar’Adua government raised questions about spending in the electricity sector, with allegations initially reported at $11 billion, before the figure became commonly cited as $16 billion.

In his defence, Obasanjo cited the EFCC investigation and the presidential review process, arguing that this had undermined allegations that $16 billion had been wasted.

A report claims only about $3.7 billion of the budgeted amount of $10 billion has actually been disbursed, with the rest held in accounts at the Central Bank of Nigeria.

Atiku challenged the Tinubu government to account for the resources it has acquired since the removal of fuel subsidies, asking, “Where is the people’s money?”

He said allegations against him had been repeatedly raised over the years without leading to any prosecution, despite successive governments having access to the state’s investigative machinery.

“The National Assembly investigated the power project. I was never invited to answer any allegations of wrongdoing.

“Yes, I lead the National Council for Privatization as Vice President. But regarding the power plant project, I did not agree with the concept and did not lead its implementation. The responsible minister did. The same applies to the Aluminum Smelter issue.

“I have repeatedly asked to be investigated. I left office in 2007 and have spent most of my time opposing the government in power. If there is evidence that I stole public money, why has no government brought it to justice?

“It’s still not too late. Investigate me. Invite me. Show me the evidence. Sue me if you have a case. But propaganda cannot replace evidence,” the statement read in part.

He stated that the controversy over the power project had resurfaced because his demands for greater transparency regarding the results of subsidy removal were politically inconvenient for the government.

“They removed subsidies from the poor and promised that these sacrifices would free up resources for development. Nigerians suffered tremendous suffering for these promises. “Today, fuel is more expensive, transportation is more expensive, food is more expensive, and the purchasing power of Nigerian workers has been destroyed,” he added.

He further questioned the government’s fiscal priorities, and stated that although ordinary Nigerians were asked to bear the consequences of the removal of subsidies, powerful economic interests continued to benefit from fiscal incentives, relief and concessions.

“Meanwhile, government revenues are rising, while fiscal incentives, breaks, tax credits and concessions continue to be available to powerful economic interests. So, our question remains simple: where is the people’s money?”

Atiku argued that the government could not justify removing large amounts of aid to Nigerians because the resulting savings would be diverted to development and at the same time portrayed economic interventions targeted at powerful interests as incentives.

“You cannot take aid from the poor, celebrate the income generated and then tell the poor that government intervention on their behalf is economically irresponsible, while interventions that benefit powerful interests are called incentives. That is precisely the hypocrisy that we are challenging,” he stressed.

“Those who abolished subsidies for the poor cannot scare us into silence by resurrecting allegations that the government with all the investigative machinery in the Nigerian state has had almost two decades to build,” he said.

“If you have evidence against Atiku, bring it. If you have a case, prosecute it. But if you have neither, stop the manufactured harassment and answer Nigerians. You abolished subsidies. You collected savings. Where is the money?”, the statement read.