Nigeria’s Minister of Power, Adebayo Adelabu, has denied any connection to the controversial ₦128 billion financial issues recently highlighted within the country’s electricity sector, insisting that the disputed transactions occurred before he assumed office.
The minister reacted after renewed public attention surrounding audit findings involving the Ministry of Power and the Nigerian Bulk Electricity Trading Plc (NBET) triggered calls for investigation and accountability.
Civil society organization Socio-Economic Rights and Accountability Project (SERAP) had earlier urged President Bola Ahmed Tinubu to direct the Attorney General, Lateef Fagbemi, and other relevant agencies to examine the alleged financial irregularities linked to the sector.
However, Adelabu maintained that the audit report being referenced concerns the 2022 financial year, long before his appointment as Minister of Power in August 2023.
According to Gossip News Now, the minister, through his media aide Bolaji Tunji, described attempts to associate him with the disputed funds as misleading and based on records predating his administration.
He emphasized that the financial transactions under scrutiny cannot fairly be connected to his tenure since he was not occupying the office at the time the reported activities occurred.
Despite distancing himself from the controversy, Adelabu reportedly expressed support for any lawful and transparent investigation capable of uncovering the truth behind the audit findings.
He stated that his administration has no intention of obstructing legitimate accountability processes and remains committed to improving electricity supply and restoring confidence in Nigeria’s power sector.
The minister also highlighted his commitment to integrity and responsible public service, stressing that ethical governance remains a major part of his approach to leadership.
Meanwhile, SERAP pointed to several issues contained in the audit observations, including claims of questionable payments linked to power projects such as the Mambilla, Zungeru, and Kashimbilla projects.
The organization also raised concerns over alleged payments lacking sufficient documentation, consultancy services reportedly not executed, foreign travel expenses without proper approval, and procurement practices that may have violated official procedures.
Questions were equally raised about certain transactions involving NBET, with concerns reportedly centered on contract awards, unexplained transfers, and procurement irregularities.
SERAP argued that recovering mismanaged public funds could help Nigeria reduce fiscal pressure, improve governance standards, and strengthen efforts to address long-standing electricity challenges across the country.
Political and Economic Commentary
The latest controversy surrounding the power sector once again highlights the deep public concern over accountability and financial management within Nigeria’s critical infrastructure sectors.
Analysts believe the electricity sector remains one of the most sensitive areas of governance due to its direct impact on economic growth, business productivity, and everyday life for millions of Nigerians.
Observers also note that audit-related disputes involving past administrations often create political pressure for current office holders, even when the transactions occurred before their appointments.
As calls for investigation continue, many Nigerians are likely to pay close attention to whether the government pursues transparent accountability measures capable of rebuilding public trust in the power sector.
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