I did not know what to think or believe when the news of the $16billion saga of the last administration began to infiltrate the air. You know what I am talking about - the money spent by the last administration to revamp NEPA or POWER HOLDING COMPANY of NIGERIA as they are today called.
Before I begin to express my feelings and thought on this issue, please note that this $16billion is what has been reported, meaning that the unreported part of the amount could be as much as the reported amount - something around $32billion. But for the pirpose of being fair, let's stay with $16billion.
As the thought of this irrepairable and reckless spending ran through my mind time and again, I decided to do a small calculation of what the money will amount to in naira. This is what I got. When I multiplied $16billion by N115 (N115 to one Dollar), this is what I got, N1,840,000,000,000 (i.e. One Trillion, Eight Hundre and Forty Billion Naira). That is how much was spent by the last administration 'officially' on NEPA (you can imagine the unofficial amount).
In case this does not border you in any way, look at this; the interpretation is that if this money is to be shared at N100,000 per head, the 15million people living inLagos will all get without exception and about 3,400,000 people in Ogun State will also get N100,000 each.
That is not the most painful part of the story, the most painful part is that NEPA has refused to work!
I ask you dear reader, should OBJ, I mean Baba-iyabo be forgiven?
Anyway, this is Nigeria, and they have said that anything is possible in this country.
May God help us all.
Abiodun Mabadeje
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