A team of senior World Bank chiefs came to Abuja last week amid rising worries over an impending default on payment of about one $1 million to creditors of the 451MW Azura power plant located in Edo State, BusinessDay has learnt.
Azura is meant to collect cash for the power it generates in Nigeria and the Central Bank of Nigeria (CBN) is then expected to provide it with the required foreign exchange to meet its obligation to foreign lenders that funded the construction of the plant that produces over 10 percent of Nigeria’s grid power.
