Jun 27, 2008

E be like say that $20.00 Billion Foreign Reserve No Go Do.

Every once in a while you come across a story that makes you stop and say “woo” how in God’s name is this even possible? Nigeria needs $85bn to fix power, if according to experts it would cost about $2 billion dollars in today’s dollars to rebuild the Hoover dam from scratch then where are they getting these figures from? Remember that this figure does not factor in the $10.00 billion Baba Sege was supposed to have spent on power generation already. Quoting BBC News Africa “The most sensational revelations stem from an inquiry into the power sector, begun by a panel in the House of Representatives after Mr Yar'Adua said in January that more than $10bn had been spent on electricity under the previous government, with little to show for it.” Omo the way they spend money in Nigeria is scary.

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