Professor Barth Nnaji has resigned from his appointment as Minister of Power with immediate effect. This came after it was revealed that he had used his position to help a company he maintained acquire the Afam power station in Port-Harcourt.
The Presidency confirmed the resignation, saying in an official statement the President Goodluck Jonathan had accepted the resignation, thanking him for his services under his administration and wishing him well in his future endeavours.
Speaking to Thisday on Tuesday night, Nnaji said he decided to resign in order to save the privatisation and reform programme from those who planned to use ulterior motives to bring down the programme. Nnaji said he met with GEJ on Tuesday afternoon, who told him his company was going to be used as a proxy to acquire shares in the Afam power station on behalf of the president.
After hearing this, Nnaji told the president that he would resign, rather than drag the president and the whole reform process through the dirt. He further explained that there have been all sorts of attempts to bring him down ever since he was Special Adviser to the President on Power, a position he held before he became Minister, and that it was best to leave rather than interrupt the privatisation process.
Insiders in the Presidency though, said that Prof. Nnaji had no choice other than to resign, as he would have been sacked if he didn’t. The president was said to be extremely disappointed in Nnaji, who is said to have broken the Code of Ethics of the privatisation process, which prevents staff of the Bureau of Public Enterprises and members of the National Council of Privatisation from buying shares in the companies being privatized.