The Special Adviser to the President on Infrastructure, Mr Ahmed Zakari, said on Wednesday that no documents signed from 2013 to 2015 stated that Nigeria would be liable to pay $1.
2bn if it defaulted on the contract for the Azura-Edo Independent Power Plant.
The Senate had expressed concern over the monthly payment of $30m by the Federal Government for power and resolved to assemble local and international experts to review the agreement. He said those who argued that the signing of the World Bank guarantees made the Federal Government under Buhari responsible for contracting Azura needed only to look at the two basic transaction documents.
“The only possible payout indicated in any of the agreements is in case the put and call option is activated.
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