Nnaji why i resigned as minister of power

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Make in Nigeria. A spokesman for Mr Nnaji said he had faced "totally wrongful accusations", Reuters news agency reports. Politicians in Nigeria, where corruption is rife, rarely resign over conflicts of interest, analysts say.

President Goodluck Jonathan, who pledged to tackle the electricity crisis when he took office in , said he accepted Mr Nnaji's resignation.

Neither he nor Mr Nnaji gave reasons for the decision, but it came after Nigerian newspapers reported that the ex-minister had an interest in a company involved in bidding for two state assets being sold off. A spokesman for Mr Nnaji confirmed he had a stake in the company, but denied that this amounted to a conflict of interest as the regulator had been informed, Reuters reports.

Chronic power shortages are an everyday headache for Nigerians. Nigerian newspapers on Tuesday reported that Barth Nnaji had inappropriately held a stake in Geometric, a company involved in bidding for two of the state power assets being sold as part of an overhaul of the dilapidated and corrupt electricity sector.

The presidency later announced Nnaji had resigned. Nnaji said on Wednesday he did have a stake in Geometric but said it was above board, adding he felt it better to resign.