The House of Representatives Ad hoc Committee investigating Nigeria’s power sector reforms has queried the Azura-Edo Power Plant over the ₦18 billion it received from the Federal Government through the Nigerian Bulk Electricity Trading Plc.
Chairman of the Ad hoc committee Arc Ibrahim Mustapha Aliyu, gave the query at the resumed investigative hearing of the panel after discovering that the company has failed to account for the funds in its submission to the committee.
Arc Mustapha Aliyu, explained that official records showing that between January and June 2023, the company has received over ₦18 billion as excess tariff payments and other financial settlements from government stressing that the payments directly fall under the scope of ongoing investigations of expenditure in the power sector.
Responding, Head of Legal Compliance to the company Akeem Olabende, said the company had focused its submission on operational data such as installed capacity, generation profile, dispatch performance, and availability figures.
The committee Chairman however, stressed that the probe was not limited to technical performance but also the financial commitments of the Federal Government to private operators particularly through the Central Bank’s intervention windows, and budgetary appropriations.
Members of the committee who spoke reminded the Azura company of its obligations under the Constitution to provide full disclosures or compel the committee to invoke legislative powers to ensure compliance.
COV/TSIBIRI
