Former President Olusegun Obasanjo has said that he will be ready for probe over the $16 billion power project allegedly squandered by his administration.

He said this, following the jibe by President Muhammadu Buhari on Tuesday that the former president could not account for the $16 billion.

In a statement by Obasanjo’s media aide Mr. Kehinde Akinyemi, the former president said that Buhari is ignorant about the $16 billion power project and apparently lacked correct information.

The statement said that Buhari’s jibe was based on ignorance that $16 billion was wasted on power projects by “a former President”.  We believe that the President was re-echoing the unsubstantiated allegation against Chief Obasanjo by his own predecessor but one.

While it is doubtful that a President with proper understanding of the issue would utter such, it should be pointed out that records from the National Assembly had exculpated President Obasanjo of any wrong-doing concerning the power sector and has proved the allegations as false.

For the records, Chief Obasanjo has addressed the issues of the power sector and the allegations against him on many occasions and platforms, including in his widely publicised book, My Watch in which he exhaustively stated the facts and reproduced various reports by both the Economic and Financial Crimes Commission (EFCC), which conducted a clinical investigation into the allegations against Chief Obasanjo, and the Ad-Hoc Committee on the Review of the Recommendations in the Report of the Committee on Power on the Investigation into how the Huge Sums Of Money was Spent on Power Generation, Transmission And Distribution between June 1999 and May 2007 without Commensurate Result.

We recommend that the President and his co-travellers should read Chapters 41, 42, 43 and 47 of My Watch for Chief Obasanjo’s insights and perspectives on the power sector and indeed what transpired when the allegation of $16 billion on power projects was previously made. If he cannot read the three-volume book, he should detail his aides to do so and summarise the chapters in a language that he will easily understand.