Wednesday, September 27, 2023
Home POWER $33m Azura power deal: Reps invite ministers of finance, power, others

$33m Azura power deal: Reps invite ministers of finance, power, others

The House of Representatives has invited the Ministers of Power and Finance and heads of Bureau of Public Procurement (BPP), Niger Delta Power Holding Company (NDPHC) over a $33 million Azura power purchase agreement.

Other agencies invited include: Nigeria Bulk Electricity Transmission (NBET), Transmission Company of Nigeria (TCN) and Nigeria Electricity Regulatory Commission (NERC).

Chairman, House of Reps Committee on Finance, James Faleke, which is investigating alleged breach of agreement and perennial power failure in the country invited the heads of all the agencies in Abuja on Tuesday.

Faleke said the agencies would be brought before the committee to explain their role in the power deal, adding that the appropriate date for their appearance before the committee would be communicated to the affected agencies.

The committee had on Aug. 19 discovered that the country was committed to a monthly payment of $33 million in a take or pay deal.

The committee however discovered that Azura power plant had not been able to deliver the 450 megawatt of electricity agreed to with TCN to the national grid since the contract was signed.

Faleke, however told the Managing Director, TCN, Mr Sule Abdulazeez to present its budget allocation from 2002 to date and the contract awarded and the certificates  by TCN on power transmission line

He said that if  Azura would demand money in dollars from power being generated, Nigeria should also demand money from Azura in dollars for power being used from the national grid.

The committee also asked TCN to provide it with its Internally Generated Revenue (IGR) from 2010 including its audit report, while also picking holes in the IGR being spent by TCN outside budgetary provision.


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