Re: Senate Targets Osibanjo, Fashola, Others Over Multimillion Dollar Power Deal – Newspaper’s wicked lies exposed

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This is completely false. Osinbajo was not even in office when the agreement was signed, as far back as in April 2013. by Per Second News July 26, 2020, 11:12 pm Share VP Yemi Osinbajo   By Dr. Ahmed Rahman. On Tuesday July 21, the Chairman of the Senate Committee on Power, Senator Gabriel Suswam, presented a report on ‘Addressing Nigeria’s Power Sector Problems’ for debate at Plenary. As may be expected, the report recounted many of the well-known woes and inadequacies of the Nigerian Power Sector. At the same time, it tried to ascribe reasons to them. In the course of that, the Senator dwelled on the Azura Power Generating Company and what the transaction was costing the Federal Government. As may be expected, most papers reported it the next day, but of all of them, the approach taken by the Daily Sun stood out. Here, we shall take a look at the key contents of the Daily Sun report and place them side by side with the facts on record. 1. In its screaming headlines, the newspaper proclaimed that “Senate targets Osibanjo, Fashola, others over multimillion dollar power deal.” Fact: Senate has not said or implied that it was targeting anybody. None of the Senators present at the session mentioned anything suggestive of such targeting. One cannot but wonder where the Sun got its conspiracy theory from. 2. The Daily Sun reports that “Vice President Yemi Osibanjo, Babatunde Fashola and others who were part of the team are believed to have erroneously signed an agreement that was not in favour of Nigeria.” Fact: 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 (see below first page of agreement with date shown, as well as the signature page). It must also be pointed out that the Take or Pay Clause in the Power Purchase Agreement, which obliges Government to pay for power declared available by the company, whether or not it is taken by the Government-owned Transmission Company, is fairly standard, especially where, as in this case, the plant is a huge one requiring enormous set up cost. 3. The Daily Sun went further to say, “The Presidential Power Reform Transaction, which was headed by Osibanjo when the deal was struck obligated Nigeria to pay between $30 million and $33 million monthly to Azura for power for powers generated, even if not “dispatched.” Fact: Again, this

 

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