It was revealed at the Senate chambers on Tuesday, that the Federal Government has invested N2.74 trillion in Nigeria’s power sector since 1999.

The money was pumped into the power sector during the administrations of former President Olusegun Obasanjo, late President Umaru Yar’Adua, and President Goodluck Jonathan.

The Permanent Secretary, Ministry of Power, Ambassador Godknows Igali, and the Managing Director, Niger Delta Power Holding Company, James Olotu, made the disclosure before a Senate Ad-hoc Committee probing the activities of the power sector in the last 16 years.

Igali gave a breakdown of the appropriation and money released from 1999 to 2015 as follows:

*1999 – N11.206 billion appropriated, N6.698billion released;

*2000 – N59.064billion appropriated, N49,785 billion released;

*2001 – N103. 397 billion appropriated, N70.927 billion released;

*2002 – N54.647billion appropriated, N41.196 billion released;

*2003 – N55.583billion appropriated, N5.207billion released;

*2004 – N54.647billion appropriated, N54. 647billion released;

*2005 – N90.283 billion appropriated, N71.889 billion released;

*2006 – N74.308 billion appropriated, N74. 3 billion released;

*2007 – N100 billion appropriated, N99.8 billion released;

*2008 – N156 billion appropriated, N112 billion released;

*2009 – N89. 5 billion appropriated, N87billion released;

*2010 – N172 billion appropriated, N70 billion released;

*2011 – N125 billion appropriated, N61 billion released;

*2012 – N197. 9 billion appropriated, N53. 5billion released;

*2013- N146 billion appropriated, N49 billion released;

l2014 – N69.8 billion appropriated, N48 billion released; and,

*2015 – N5. 240billion appropriated, no money released yet.

Igali added that N155 billion intervention fund was released to the Ministry for the Multi-Year Tariff Order, MYTO, to cushion the effects of the shortfalls in expenditure for the power sector between 2009 and 2013.

The funds, which were released for a period of five years, is broken down as follows:

*2009 – N30.8 billion

*2010 -N43.2 billion

*2011 – N37.0 billion

*2012 – N11.5 billion

*2013 – N32.6 billion.