Power Plant Under Scrutiny for N18bn Payments

Committee Investigates Azura-Edo Power Plant's Financial Transactions

The House of Representatives Ad hoc Committee, tasked with examining Nigeria's power sector reforms and public expenditure from 2007 to 2024, has raised concerns over the financial dealings of the Azura-Edo Power Plant. During a hearing on Monday, the committee questioned the company regarding an alleged N18 billion received from the federal government through the Nigerian Bulk Electricity Trading Plc (NBET) within a six-month period in 2023.

This inquiry comes as the committee has summoned the chief executive officer of Azura-Edo Power Plant to appear before it on December 8, 2025. The committee expressed frustration over the CEO’s repeated failure to attend previous hearings despite multiple invitations.

At the resumed session held in Abuja, the chairman of the committee, Arch. Ibrahim Almustapha Aliyu, demanded detailed explanations after discovering that Azura had not disclosed or accounted for the funds in its submissions to the panel.

Aliyu cited official records showing that between January and June 2023, Azura received over N18 billion in excess tariff payments and other financial settlements from NBET. These payments, according to the committee, fall directly under the scope of their ongoing investigations into public expenditure on the power sector.

When questioned about these transactions, Akeem Olabende, Azura's Head of Legal and Compliance and representative at the hearing, admitted that the company had not submitted any documents related to the payments. He also confirmed that Azura had omitted information on budgetary allocations, loans, grants, bank settlements, and other financial inflows connected to federal power-sector spending.

Olabende explained that the omission was due to what he described as a misunderstanding of the committee's documentation requirements. He noted that Azura had focused its submission on operational data such as installed capacity, generation profile, dispatch performance, and availability figures.

"We did not fully understand the documentation that the committee required," Olabende said, adding, "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."

Aliyu emphasized that the probe was not limited to technical performance but also included the financial commitments of the Federal Government to private operators—particularly through NBET, the Central Bank's intervention windows, and budgetary appropriations.

Members of the committee reminded Azura of its obligations under the constitution, warning that continued failure to provide full disclosures could compel the committee to invoke legislative powers to ensure compliance.

During the sitting, the committee also provided another date for the Managing Director of Yola Electric Distribution Company, Engr Abdulrahman Isa, to defend its submissions.