A stakeholder in the electricity industry, Mr. Nathaniel Hule, Saturday in Abuja said that the 18 GenCos & DisCos were undersold at about $3 billion instead of the $12 billion valued price to 14 Nigerians.
He said the whole process was marred and characterised by fraud. Former Sky Bank collapsed primarily due to the huge amount of money Mr. Tunde Ayeni (Jonathan’s protégée) and others obtained in buying this utility company and failed in remitting back.
He said just like the P&ID case, this government can review and revoke the licenses of these monster companies with a view to doing justice to the 200 million Nigerians who have only benefitted poor services and darkness in the last six years.
“Let us see the enemies of Nigeria that would want to challenge the process. Every legal action and channel should be taken and followed to ensure that majority of Nigerians are not shortchanged,” he said.
Hule pointed out that, Nigerians have a balance of $9 billion if due diligence is followed because it was sold to political cronies at a very cheap price on November 1, 2013 in order to get support for 2015 re-election.
