Chapter 66 / 8
Money without accountability buys nothing.
SERAP reports ₦11–20 trillion+ lost in the power sector since 1999. Realistically, only ₦1–3 trillion could be recovered.
⚠ Estimate — recovered money would cover at most about 5–15% of the bill.
- Reported lost since 1999₦11–20T+
- Realistically recoverable₦1–3T
Loss: SERAP (Socio-Economic Rights and Accountability Project). Recovery: estimate, Refresh Nigeria dossier.
- Inflated contracts
- Estimated billing
- Gas diversion
- Distribution company capture
- Power and equipment theft
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- Loss figure: SERAP. Recovery range: Refresh Nigeria dossier (aggressive case up to ₦6 trillion).
- Common leaks: inflated contracts, estimated billing, gas diversion, distribution company capture, theft.
- Fixes: publish every contract, independent megawatt checks, milestones tracked in public.
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