By Mercy Aikoye
The House of Representatives Ad hoc Committee investigating Nigeria’s power sector reforms and expenditure has launched a fierce attack on Azura-Edo Power Plant over undisclosed payments. The committee demanded explanations from the company over ₦18 billion received from the Federal Government through the Nigerian Bulk Electricity Trading Plc (NBET) within a six-month period in 2023.
The committee chairman, Arch. Ibrahim Almustapha Aliyu, expressed disappointment over Azura’s failure to disclose or account for the funds in its submission to the panel. According to Aliyu, official records showed that Azura received the payments between January and June 2023 as excess tariff payments and other financial settlements from NBET.
Akeem Olabende, Azura’s Head of Legal and Compliance, admitted that the company did not submit any documents relating to the payments. He attributed the omission to a misunderstanding of the committee’s documentation requirements. “We did not fully understand the documentation that the committee required,” Olabende said.
The committee, however, insisted on transparency, stressing that the probe was not limited to technical performance but also financial commitments. Aliyu emphasized that the committee would not hesitate to invoke legislative powers to ensure compliance. “The probe is not just about technical performance but also the financial commitments of the Federal Government to private operators,” he said.
Members of the committee reminded Azura of its constitutional obligations, warning that continued failure to provide full disclosures could have consequences. The committee is determined to get to the bottom of the issue and ensure that all parties comply with the law.
Olabende promised to ensure that all financial documents and additional details requested by the committee are provided. “Now that I have a clearer understanding, we will go back and ensure that all the financial documents and additional details the committee has requested are provided,” he said.
The committee also summoned the Managing Director of Yola Electric Distribution Company, Engr Abdulrahman Isa, to defend its submissions. Isa was given another date to appear before the committee.
The committee’s investigation into Nigeria’s power sector reforms and expenditure is ongoing. The probe aims to uncover the truth behind the sector’s challenges and ensure that all parties comply with the law. The committee’s determination to get to the bottom of the issue is evident in its actions, and it remains to be seen what the outcome of the investigation will be.
