4 ways the billions stolen by the former NNPC could have saved lives of Nigerians

On February 3, 2017, operatives of the Economic and Financial Crimes Commission (EFCC), in a special operation raided a building belonging to a former group managing director of the Nigerian National Petroleum Corporation (NNPC), Dr Andrew Yakubu.

Engr. Andrew Yakubu

The house in Kaduna yielded a staggering sum of $9,772,800 (Nine Million, Seven Hundred and Seven Two Thousand, Eight Hundred United States Dollars) and another sum of £74,000 (Seventy Four Thousand Pound Sterling) cash. The huge cash was hidden in a fire proof safe.

The huge amount of cash found could have gone a long way in helping the lives of Nigerians if it had been put in various projects. Nigeria has epileptic power supply, poor infrastructure and several bad road networks that take lives on a daily basis.

Here are some projects, the money could have been put into:

1. Zungeru power plant project

Power plant / File Photo

Construction work recently resumed at the site of the 700 megawatts (MW) Zungeru power plant in Niger state.

This was after the federal government facilitated an out of court settlement by parties involved in the dispute.

Minister of Power, Works and Housing, Babatunde Fashola, revealed this. The plant will go a long way in solving Nigeria's electricity problem. Did you know that with only N1.36bn out of the N3.03bn found with Andrew Yakubu would have solved the problem.

2. Off-grid solar power plant

Solar power plant / File Photo

As part of the Green Energy Project with the UN Development Program (UNDP), Nigeria’s Bank of Industry (BoI) on January 19, 2017 launched a 1 billion naira (US$3.1 million) off-grid solar energy fund.

The bank will lend and/or invest the fund’s capital on favorable, concessionary terms to qualified businesses installing mobile pay-go and other forms of off-grid solar energy systems and services across the country, according to a news report.

If 1 billion naira out of the recovered money is put into the project, renewable power will go a long way in helping Nigeria's power supply.

3. Road construction in Niger state

Ongoing road construction in Nigeria / File Photo

In the just accented 2016 appropriation bill, the following are the road projects approved by the Federal Government to be handled and supervised by Ministry of Power, Works and Housing headed by former Governor of Lagos State Babatunde Raji Fashola.

The uncompleted road projects in Niger state will be completed if N1bn is sunk into the project, saving many lives lost to road mishaps monthly.

4. Transformers

Power transformers / File Photo

Buying extra transformers will go a long way in helping to solve Nigeria's power supply problem. Several transformers could have been purchased with a little part of the money found in Yakubu's safe.

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