Jul 10 2012
By John Ofikhenua
He blamed the Petroleum Products Pricing Regulatory Agency for all the atrocities perpetrated in the management of the fund, saying the agency released the funds and did not account for it.
He submitted that as an intelligent chief he would simply check their letters of credit and bill of landing to bring all those who benefited from the subsidy to justice.
Ribadu, who spoke at the Nigeria Electricity Regulatory Commission in Abuja, said all the regulatory irregularities in Nigeria are due to “leadership failure.”
His words: “Look at the energy sector and see what we are talking about. Most of the problems we are talking about today are failure of regulation or regulators including the subsidy. If PPPRA had lived up to expectations we would not be having these problems. Nobody will take one penny from government if those agencies did not allow them.
“If I was to handle this subsidy I will just catch PPPRA. I will bring out each one of them and in one week I will get the people responsible because the gate keeper is the one in charge.
“I will just get them because nobody will make one penny from the subsidy unless PPPRA allows it. For every single person that benefited from subsidy I can assure you public officers gained three times,” Ribadu stated.
He added that the NERC Chairman, Dr. Sam Amadi, needs “courage” to carry out the reform in the power sector.
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