$33m Azura Power Deal:  House C’ttee Invites Ministers of Finance, Power, BPP, Others

$33m Azura Power Deal:  House C’ttee Invites Ministers of Finance, Power, BPP, Others

Juliet Akoje in Abuja

The House of Representatives Committee on Finance has invited the Ministers of Power, Finance, Heads of Bureau of Public Procurement (BPP), Niger Delta Power Holding Company (NDPHC), Nigeria Bulk Electricity Transmission (NBET), Transmission Company of Nigeria (TCN) and the Nigeria Electricity Regulatory Commission (NERC) over the $33 million Azura power purchase agreement.

The Chairman of the House Committee on Finance, Hon. James Faleke, while investigating alleged breach of agreement and perennial power failure in the country invited heads of all the agencies in Abuja yesterday.

Faleke noted that the agencies would be brought before the committee to explain their role in the power deal, adding that the appropriate date would be communicated to the agencies invited

The Committee had on August 19 revealed that the country was committed to a monthly payment of $ 33 million in a take or pay deal.

The Committee disclosed 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 consequently told the Managing Director, TCN, Mr. Engr Sule Abdulazeez to present its budget allocation from 2002 and the contract awarded and the certificates by TCN on power transmission line.

He said 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 however asked the TCN to provide it with its Internally Generated Revenue (IGR) from 2010, including its audit report, while also picking hole on the IGR being spent by TCN outside budgetary provision.

Related Articles