NBET

President Buhari over-rules Minister of Power, reinstates NBET MD

Posted: January 10, 2020 at 11:02 pm   /   Government, Ministry of Power, NBET, NERC, REA

The Power Sector has of recent become the theatre of chess games! The latest move is that of President Buhari reversing the moves of the Minister of Power, Engr Sale Mamman. The Minister of Power had in the wee hours of December 2019 technically “sacked” the Managing Director of the Nigerian Bulk Electricity Trader, NBET […]

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Power Minister Asks MD, NBET to Step Down, Suspends MD, REA

Posted: December 29, 2019 at 7:41 am   /   Government, Ministry of Power, NBET, REA

In one fell swoop, the Federal Minister of Power, Engr Sale Mamam has asked the Managing Director of Nigerian Bulk Electricity Trading Company, NBET, Dr Merilyn Amobi to step down and suspended the Managing Director of Rural Electrification Agency, REA, Mrs Damilola Ogunbiyi in what seems to be a major shake up in the Power […]

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More Problems for the DisCos as NERC Issues Intention to Cancel Licences of 8 DisCos

Posted: October 13, 2019 at 7:24 pm   /   Discos, NBET, NERC, Regulation

The times are really not good for the electricity distribution companies, DisCos, in Nigeria. They have been receiving bashing from the Transmission Company of Nigeria for rejecting huge amount of electricity generated by the GenCos and transported to load centers. Only a few months ago, the Electricity Market Operator descended on several DisCos for not […]

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Power Industry Regulator Absolves NBET MD of Alleged 2B Over-Invoicing

Posted: March 3, 2019 at 4:09 pm   /   Government, NBET, NERC, Regulation

The Nigerian Electricity Regulatory Commission, NERC, has fully absolved the MD of the Nigerian Bulk Electricity Trader, NBET, Dr Marilyn Amobi of the alleged 2b over payments to two generating companies made against her by two of her subordinates. The regulatory commission on receipt of the petition set up an investigative panel with heard from […]

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23 Power Generation Companies Receive NI53b from NBET in 7 months

Posted: January 22, 2018 at 6:56 pm   /   Gencos, NBET

Power generating companies in the country have heaved a sigh relief through the payment of N153billion by the Nigerian Bulk Electricity Trader, NBET for power generation into the National Grid. Recall that the power generating companies were, not too long ago, crying to the high heavens that their business was collapsing with NBET only able […]

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Use Consultancy Services to Conserve Foreign Reserve & Enhance Capacity – Shehuri Tells Universities

Posted: March 9, 2016 at 3:10 pm   /   Gen. Biz, Gencos, Government, Ministry of Power, NBET, NERC

The Minister of State for Power, Works and Housing, Hon. Mustapha Baba Shehuri has advocated for the use of c onsultancy services being offered by Nigerian Universities to build  capacities and, most importantly, conserve the nation’s fast depleting foreign reserve. He stated this at a Memorandum of Understanding (MOU) signing ceremony between the Nigerian Bulk […]

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FG, World Bank Sign $237m Partial Risk Guarantee for Azura 450MW IPP

Posted: August 24, 2015 at 9:43 pm   /   Gencos, Government, Ministry of Power, NBET

The Federal Government has officially signed the papers endorsing the $237 million World Bank Partial Risk Guarantees (PRG) for the construction of the 450 megawatts (MW) Azura-Edo Independent Power Plant (IPP). According to a statement from the Nigerian Bulk Electricity Trading Plc (NBET) on Sunday in Abuja, the federal government has by this act underscored […]

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TEM Gets Credibility Boost

Posted: April 23, 2015 at 1:53 am   /   Government, NBET

The possibility of participants in the electricity market being paid promptly for their services in the contract based Transitional Electricity Market, TEM, has been boosted with many of the new owners of the distribution companies posting their Letters of Credit (L/Cs). Letters of Credit are bank guarantees the electricity distribution companies were expected to provide […]

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