What is so novel or complicated about the take or Pay provision in the Power Purchase Agreement between the Federal Government of Nigeria and the promoters of the 459MW Azura Gas Fired Electricity ...
What is so novel or complicated about the take or Pay provision in the Power Purchase Agreement between the Federal Government of Nigeria and the promoters of the 459MW Azura Gas Fired Electricity generating power plant? Only those who obviously don’t know how the world works can claim to be confused.
It is clear that the members of the National Assembly seeking to rewrite these Power Purchase and Shareholder Agreements are most belated in their response to these matters of major national importance. This is a huge shame considering that many of them have been in parliament for two or more terms. Even if they came in as greenhorns, they have had enough time to get themselves properly educated on what their lawmaking and oversight functions entail.
For the avoidance of doubt, the Supply and Purchase Agreements between the West African Gas Pipeline Consortium, a.k.a. WAGPI, on the supply and uptake ends, provide for both Supply Or Pay and Take Or Pay provisions. The certainty makes it possible to keep unit pricing low. However, this aspect demands planning and hard work which is seriously lacking in these parts.
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