Chief Adelabu Defends Record as Alleged Missing N128bn Hits Power Ministry
The Nigerian energy sector is currently embroiled in a significant financial controversy following claims of an Alleged Missing N128bn in Power Ministry funds, a situation that has forced the Minister of Power, Adebayo Adelabu, to issue a formal clarification. Responding to a petition filed by the Socio-Economic Rights and Accountability Project, SERAP, the Minister stated categorically that the discrepancies in question occurred well before his tenure began.
Adelabu clarified that the financial records being scrutinized by the Auditor General of the Federation pertain to the 2020 fiscal year, long before he was appointed to lead the ministry under the current administration.
The controversy stems from an audit report highlighting unexplained expenditures and missing funds totaling approximately 128 billion Naira within the ministry’s accounts. SERAP had demanded that the Minister account for the funds or face legal action, prompting a swift rebuttal from the ministry’s leadership.
Adelabu emphasized that his administration has prioritized transparency and accountability since he took office, and he welcomed any investigation that would help clear the air. He noted that the ministry is fully cooperating with relevant oversight bodies to ensure that past financial irregularities are identified and addressed appropriately.
Beyond the defensive stance, the Minister’s response highlights a broader systemic issue regarding financial oversight in Nigeria’s public sector. Adelabu pointed out that the 2020 audit findings reflect the activities of previous leadership and that it is unfair to attribute those historical gaps to the current management.
He reiterated his commitment to the “Renewed Hope” agenda, asserting that the focus of his team remains on stabilizing the national grid and improving electricity supply across the country, rather than being distracted by legacy financial hurdles.
As the public demands more accountability, the focus has now shifted toward the individuals who were in charge during the period identified in the audit report. Legal experts and anti-corruption advocates are calling for a deeper probe into the 2020 financial records to recover any misappropriated public funds.
While Adelabu has successfully distanced himself from the immediate blame, the pressure remains on the federal government to demonstrate that there will be no sacred cows in the fight against corruption within the nation’s critical infrastructure departments.