Oshiomhole exposes N20 billion wasted on Nigeria’s nuclear energy projects

DDM News

According to a report from Diaspora digital media (DDM) on Saturday, February 1, Senator Adams Oshiomhole has revealed that Nigeria has wasted a staggering N20 billion on nuclear energy projects that have failed to generate any financial returns.

Speaking during a recent Senate session, Oshiomhole highlighted the deep inefficiencies within the country’s nuclear energy sector.

He criticized the lack of progress despite heavy investments and stressed the urgent need for reform to prevent further financial losses.

Oshiomhole took particular aim at the Nuclear Regulatory Authority, stating that the agency has failed to fulfill its purpose.

He noted that, despite the initial optimism surrounding its creation, the authority has not delivered any meaningful results.

Instead, its inefficiencies have led to massive financial waste, leaving Nigeria’s nuclear ambitions unfulfilled.

Addressing fellow senators, Oshiomhole lamented the tendency to focus on trivial matters rather than tackling the pressing issues in the country’s energy sector.

He emphasized that Nigeria has a habit of establishing institutions without the necessary commitment or capacity to run them effectively.

This pattern, he warned, leads to poor management and wasteful spending, as seen in the nuclear sector.

Oshiomhole explained that the mismanagement of nuclear projects has far-reaching consequences beyond financial losses.

By failing to properly develop nuclear energy, Nigeria is missing a crucial opportunity to expand its power sector and enhance energy security.

He stressed that the country’s inability to manage its nuclear resources efficiently is a significant setback for national development.

The senator called on President Bola Tinubu to take immediate action to address these inefficiencies.

He urged the administration to implement stricter oversight and accountability measures to ensure that future investments in nuclear energy are properly managed.

Oshiomhole argued that without decisive intervention, Nigeria will continue to waste valuable resources on projects that yield no tangible benefits.

He also pointed out that the lack of financial returns from nuclear energy projects reflects broader issues of poor governance and mismanagement in the public sector.

According to Oshiomhole, the failure of the nuclear energy sector is a clear example of why Nigeria must reassess its approach to infrastructure and energy development.

He warned that unless reforms are enacted, the country will struggle to achieve its long-term energy goals.

The senator’s remarks have sparked discussions on the need for greater transparency and accountability in Nigeria’s energy policies.

Critics argue that the government must prioritize projects that offer real value and have a clear strategy for implementation.

Meanwhile, energy experts have echoed Oshiomhole’s concerns, emphasizing that Nigeria cannot afford to continue wasting funds on poorly managed projects.

The mismanagement of nuclear investments, they argue, underscores the need for a more effective regulatory framework.

As the debate continues, all eyes are on the government’s next steps in addressing the challenges within the nuclear energy sector.

Oshiomhole’s revelations serve as a wake-up call for policymakers to rethink their approach and ensure that Nigeria’s nuclear resources are put to productive use.

His insistence on accountability and efficiency reflects a growing demand for better governance in the country’s energy sector.

Moving forward, Nigerians will be watching to see whether the government takes meaningful action to correct the flaws highlighted by Oshiomhole.

Without urgent reforms, the N20 billion already lost could be just the beginning of even greater financial waste.

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