Edo govt nets N2.1bn from Azura power equity

The Edo State government has sold 50 percent of its share worth N2.1 billion in the Edo-Azura Power Project and divested the accrued fund in the anchor investor in the Benin Enterprise and Industrial Park.

In a statement, Special Adviser to the Edo State Governor on Media and Communication Strategy, Mr. Crusoe Osagie, said the fund would be instrumental in ensuring that the state government meets its obligations to .

Crusoe also said, “The state government will be providing the needed infrastructure for the project, including access roads and other needed structures to ensure the smooth take-off of the facility.

According to him, “the N2.1bn would go a long way in building the needed infrastructure for the park to come on stream.”

Continuing, the media aide said: “the government will meet its obligation by deploying the fund in constructing the access roads, clearing the environment as well as other physical structures to drive investment.

“We disclosed earlier that we have an anchor investor for the park. With the funds we now have, we have all that is needed to effectively kick-off.

“Nothing is going to be left to chance. As is characteristic of the governor, this is a masterstroke as we now have funds to begin the project.

“We expect other to cash-in on opportunities in the new industrial corridor.”

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