The Azura Electricity Power Project, Is It Adams Oshiomhole Scam? EXPOSED!
Written by Confidence Osaro
The Edo State, Benin Azura Power is a world class company whose main objective is to provide electric power for millions of Africans.
The project in Edo State have so many phase, the first phase of the project, which was conceptualized in 2010 and jointly incubated by the Edo State Government under the Governorship of Governor Adams Oshiomhole and AMAYA CAPITAL, the key promoters of Azura Power. This project was a Public Private Partnership project and the Edo State government was to provide the land, A private investor was to invest about N10billion into the project.
In the year 2012/2013, Governor Adams Oshiomhole assessed a N30billion Facility from the world bank and the loan was sourced majorly for the Water Storm project.
After the State Government had taken delivery of the Loan, N10billion was diverted and invested in the Azura power project through Africa Infrastructure investment Managers AIIM. AIIM is an investment firm registered in 2000 with Afrinvest West Africa Ltd as major share holders in the investment firm. So the N10billion was actually Edo State government funds from the loan, diverted as equity contribution through AIIM (the private investor). Other equity investors in the Azura project are Aldwych Azura Ltd and the ARM-Harith Infrastructure Fund, Siemens bank, Standard bank.
As agreed, The Edo Government provided the land and therefore an estimated cost of the land was ascertained and thereafter converted into shares and presented to the State Governor.
Gov Oshiomhole and his stooge used Edo State funds to pay equity contribution to the project through a private investor firm partly owned by Godwin Obaseki one of the APC candidate for the Governorship election of Edo State.
Little wonder the overwhelming interest of Mr Godwin Obaseki owner of Afrinvest Ltd and Gov Oshiomhole who helped in the diversion of the said monies for fund the project. Godwin Obaseki is being imposed on the APC as Governorship candidate as a reward for his secret deals and to consolidate on their gains and cover the tracks for Oshiomhole.
Our source said that these are an exact representation of the facts, of what is happening at the electricity power in Edo.