The Economic and Financial Crimes Commission (EFCC) in Nigeria has recently voiced strong concerns over corruption in the country’s power sector.
The EFCC’s statement calls for intensified efforts in tracking and recovering stolen assets, which they argue could make a significant difference in addressing the sector’s longstanding challenges.
Despite massive investments and various reforms over the years, Nigeria’s power sector continues to struggle with inefficiencies, and corruption is often cited as a root cause.
The EFCC highlighted the importance of asset recovery as a way to reinvest in the sector, potentially leading to better infrastructure and more reliable electricity supply. They urged for stricter oversight and accountability measures, as well as improved cooperation with other government agencies and international partners, to more effectively combat financial crimes within the industry.
This statement comes amid growing frustration from citizens and businesses facing frequent power outages, rising costs, and slow progress in the sector’s development. The EFCC’s emphasis on corruption underscores the complex issues impeding Nigeria’s energy progress and the need for systemic change to achieve sustainable improvements.
