Presidency Rejects Senate’s Call to Terminate Azura Power Agreement
The presidency yesterday rejected the call by the Senate, asking the federal government to pull out of its power purchase agreement with Azura power plant and allow the company to pull $1.2 billion from the foreign reserves.
Reacting to the call, a top presidential source, who did not want to be named, told THISDAY that contrary to the claim by the Senate that Vice President Yemi Osinbajo and former Minister of Power, Works and Housing, Mr. Babatunde Fashola, signed the agreement on behalf of the federal government, both men were not in office between 2013 and 2014 when the agreement was signed.
The source described the claim that Osinbajo and Fashola signed the agreement as misplaced, wondering how persons who were not in office when an agreement was signed could have been accused of signing such an agreement. “Neither Vice President Osinbajo nor Mr. Fashola signed any such agreement. They were not even in office when the Azura agreements were signed. Records show that the Power Purchase Agreement or PPA for the transaction in question was signed on April 22, 2013, during the tenure of the then President Goodluck Jonathan.”
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