The Azura-Edo IPP – A Nigerian success story

It has been a year since President Muhammadu Buhari took office but little has changed in Nigeria’s energy sector – or wider economy. Indeed, Buhari has earned the nickname “Baba go slow” for his lack of progress to date. But despite increasing pessimism over the country’s outlook, Nigeria has one important success story to celebrate – it secured financial backing for the Azura-Edo 450 MW open-cycle gas-fired power plant near Benin City in Edo state. Azura has set a precedent as the first privately funded power plant in the country, and could in many ways pave the way for other potential investors in Nigeria and continental Africa. Gas Matters examines whether Azura will remain a one-off power project or if its success can be replicated – and how it made it this far.