In a dire warning, Minister of Power, Adebayo Adelabu, painted a bleak picture of Nigeria’s energy future, cautioning that failure to enact the planned increase in electricity tariffs could plunge the nation into darkness within the next three months.

Adelabu’s stark revelation unfolded during a high-stakes appearance before the Senate Committee on Power in Abuja on Monday, where scrutiny over the recent electricity tariff escalation by the Nigerian Electricity Regulatory Commission intensified.

He said, “The entire sector will be grounded if we don’t increase the tariff. With what we have now in the next three months, the entire country will be in darkness if we don’t increase tariffs.

“The increment will catapult us to the next level. We are also Nigerians, we are also feeling the impact. For this sector to be revived, the government needs to spend nothing less than 10 billion dollars annually in the next 10 years.

“This is because of the infrastructure requirement for the stability of the sector. But the government cannot afford that. And so we must make this sector attractive to investors and to lenders.

“So, for us to attract investors and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing.

“If the value is still at N66 and the government is not paying subsidy, the investors will not come. But now that we have increased the tariff for A Band, there are interests being shown by investors. ” he added

In a session at the Ikeja Special Offences Court in Lagos on Monday, Mr. John Ayoh, a former Director of Information Technology at the Central Bank of Nigeria (CBN), unveiled details of allegedly receiving $600,000 in bribes from contractors on behalf of the ex-governor of the apex bank, Godwin Emefiele.

Ayoh, who served eight years in the CBN, disclosed this while under examination by the Economic and Financial Crimes Commission (EFCC) counsel, Mr. Rotimi Oyedepo (SAN).

He mentioned receiving a letter from the agency regarding two transactions he facilitated for Emefiele.

Ayoh, the Head of the Procurement and Support Services (PSS) Department, testified that he received $400,000 in the first envelope at his Lekki residence and $200,000 in the second envelope at the Tinubu Head Office of the CBN.

He further explained that his role included receiving applications for contract awards and selecting successful bidders.

He clarified that the initial part of the transaction took place at his residence in Lekki Phase One, while the second envelope containing money was received at the Tinubu Head Office of the CBN.

He said: “The man to deliver the second transaction came to our office in Lagos and I informed the governor but he said he did not want to see a third party that I should bring the envelope myself.

“I complied with the instruction and went to his office and delivered it. I complied with the instruction and went to his office and delivered it.

“Mr John Adeola was the one I sent my address to and he came to my house. He is the governor’s assistant and the total money I received on his behalf was $400,000 and $200,000, respectively.”

The witness revealed to the court that the vendors responsible for bringing the money-filled envelopes were overseeing the implementation of Netapp Storage Architectural and Infrastructural Services.

During cross-examination by the first defense counsel, Mr. Olalekan Ojo (SAN), he stated that although his duties did not explicitly involve running errands for Emefiele, he worked directly under him.

Ayoh affirmed to the court that Emefiele was not part of the Procurement and Support Services (PSS) but rather a member of the Major Contract Tender Committee (MCTC).

He further stated that he had never facilitated any criminal activity.

Ojo inquired if the witness mentioned in his statement that he was coerced to assist in accepting gratification.

The witness said: “I do not remember the exact word that I used and I did not write in my statement that I opened the two envelopes on the two occasions to check the total sum of money.

“I wrote a statement and it implied that the money in the envelopes was given to me to influence the award of contract.

“I did not take part in the decision of the MCTC but I recommended that the award be given and I was not bribed.

“I was invited by the EFCC on Feb. 17, I was not arrested but I returned home on administrative bail.”

The witness informed the court that he operated under duress when receiving the two envelopes from the contractors.

The defense counsel then asked if he indicated in his statement that he was acting under duress while running errands for the first defendant.

The prosecution objected to the question, arguing that the witness’s statement was not presented before the court.

The defense counsel requested that the defendant’s statement be admitted into evidence.

Justice Rahman Oshodi admitted the witness’s statement, consisting of three pages, into evidence after deliberations between the counsels.

The Senior Advocate reiterated that the witness’s statement clearly indicated that he acted under duress.

The witness confirmed to the court that instructions from Emefiele implied bending rules.

Following the proceedings, the judge adjourned the case until May 3 for the continuation of cross-examination.

Emefiele’s counsel requested the court to release the defendant to him on self-recognition as he hadn’t met with his bail application yet.

The Senior Advocate, however, urged the court to ensure that the defendant meets the requirements before May 17.

The second defense counsel didn’t object, and the prosecution left the decision to the court’s discretion.

Minister of Power, Adebayo Adelabu has emphasized that an annual investment of $10 billion for the next decade is essential to rejuvenate Nigeria’s power sector and address its persistent challenges.

He made this assertion during his appearance before the Senate Committee on Power to discuss the recent electricity tariff increase by the Nigerian Electricity Regulatory Commission (NERC) on Monday.

Adelabu said “For this sector to be revived, government need to spend nothing less than 10 billion dollars annually in the next 10 years.

“This is because of the infrastructure requirement for the stability of the sector. But government can not afford that. And so we must make this sector attractive to investors and to lenders.

“So for us to attract investors and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing.

“If the value is still at N66 and government is not paying subsidy,, the investors will not come. But now that we have increased tariff for a Band, there are interests being shown by investors.” he added

Adelabu pointed out that the government’s challenge in settling the N2.9 trillion subsidy arrears stemmed from limited resources, underscoring the necessity of implementing strategies to sustain the power sector.

He appealed to lawmakers to support the process of clearing debts owed to operators across the entire value chain, including generation, transmission, and distribution.

Furthermore, he outlined initiatives aimed at enhancing power supply, such as ongoing investments in hydroelectric power.

Specifically, he mentioned the commencement of construction for a 700-megawatt power plant in Zungeru and the pending evacuation of the 40-megawatt Kashimbila Hydroelectric power plant to improve generation capacity.

Adelabu also highlighted ongoing efforts to invest in 26 small hydro power dams to augment electricity production nationwide.

The Senate Committee on Power, led by Senator Enyinnaya Abaribe, expressed concerns about the hardships faced by Nigerians and criticized the minister and his team for what they perceived as insufficient efforts.

Senators Simon Lalong and Adamu Aliero highlighted the lack of prior consultations before the tariff increase, emphasizing the importance of providing palliatives during the process.

Abaribe, as the Committee Chairman, emphasized the public’s desire for solutions to the sector’s challenges and measures to ensure its financial stability.

He also criticized the absence of the company “ZIGLAKS,” which had reportedly failed to fulfill its agreement to provide prepaid meters for Nigerians despite receiving N32 billion over 20 years for the purpose.

Additional stakeholders who participated in the investigative hearing were the Nigerian Electricity Regulatory Commission (NERC), the Manufacturers Association of Nigeria (MAN), the Association of Power Generation Companies (Gencos), and the Electricity Distribution Companies (DisCos), among various others.