SERAP calls for probe into missing power sector funds
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to investigate allegations of over ₦128 billion missing or diverted from the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Plc. In a letter dated January 3, 2026, SERAP referenced findings from the 2022 annual report of the Auditor-General of the Federation, published on September 9, 2025. The group called for the recovery of any missing funds and prosecution of those responsible. SERAP emphasized that addressing corruption in the power sector is crucial for improving electricity supply and public trust.
What we know
- SERAP sent a letter dated January 3, 2026 to President Bola Tinubu urging an immediate probe into the alleged diversion of over ₦128 billion in public funds from the power sector.
- The allegations are based on the 2022 annual report of the Auditor-General of the Federation, published on September 9, 2025.
- The report highlighted unaccounted transfers, undocumented payments to contractors, unauthorized travel expenses, and questionable expenditures within the Ministry of Power and the Nigerian Bulk Electricity Trading Plc.
- SERAP requested that any recovered funds be used to address the 2026 budget deficit and Nigeria’s debt crisis.
- The group warned of possible legal action if the government fails to act within seven days of receiving the letter.
