The House of Representatives Committee on Finance has
summoned the Managing Director/Chief Executive Officer of the Transmission
Company of Nigeria (TCN), Sule Abdulaziz over a monthly payment of $33 million
to the Generation Company of Nigeria amid epileptic power supply.
The summon was issued on Monday but details of the
investigative hearing emerged on Tuesday, where the panel expressed concerns
that a whopping sum of $33 million was being paid monthly without commensurate
power generation.
At Monday’s sitting, the Executive Director, Transmission
Service Provider, TCN, Victor Adewunmi; Market Operator, TCN, Edmund Eje;
Director, Agreements, Benedict Ogbu; and General Manager, Corporate Planning
and Strategy were grilled by the panel and could not give details of how the
management arrived at the amount. A development, that a member of the panel,
Hon. Taiwo Oluga insisted on the appearance of the TCN Chief Executive to
clarify issues.
The TCN is currently paying the sum of $33 million to a power
Generation Company, Azura Power West Africa Limited whether it supplies power
or not.
Hon. Oluga, said, “The representative of the chief
executive, I will want to put it to you that with this document, you are
confusing the House.
“If it is your document and we are arguing on it, whether it
is megawatts or it is in kilowatts, an agreement has been signed on behalf of
Nigerians in megawatts. Now, you are presenting documents to the House in
kilowatts/hour.
“So, Mr Chairman, I will want to say that maybe these
documents should be re-presented while we expect the chief executive to come
and explain to Nigerians why $33m will be paid (to Azura) every month, yet we
are not getting results – we are not getting power – and that is the root of
all the problems in Nigeria as of today.”
The lawmaker expressed disappointment that government could
go into an agreement on behalf of Nigerians without the power supply, adding
that such is not done anywhere in the world.
In his remark, the Chairman of the Committee, Hon. James
Abiodun Faleke decried that the government, through the Nigerian Bulk
Electricity Trading Plc, failed to reach a formal agreement with several power
companies but signed a take-or-pay agreement with only Azura
Faleke said the lower legislative chamber picked interest in
the issue of $33 million for one power company when there are other
concessioned power stations with different arrangements.
“Egbin power station is the largest with 1,320 megawatts. It
is private. We did not sign a take-or-pay (deal) with them. This is where I am
going,” he said.
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