Energy Business Digest
President Buhari Reappoints Dr Amobi, Constitutes NBET Board
Dr. Marilyn Amobi has been reappointed the Managing Director, Nigeria Bulk Electricity Trading Company Plc. (NBET) for another four years by President Muhammadu Buhari. The reappointment was communicated in a release, Thursday, by the Honourable Minister of Finance, Budget & National Planning, Zainab Usman and signed by her Special Adviser, Media and Communications, Yunusa Tanko […]
President Buhari over-rules Minister of Power, reinstates NBET MD
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 […]
Power Minister Asks MD, NBET to Step Down, Suspends MD, 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 […]
More Problems for the DisCos as NERC Issues Intention to Cancel Licences of 8 DisCos
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 […]
Power Industry Regulator Absolves NBET MD of Alleged 2B Over-Invoicing
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 […]
23 Power Generation Companies Receive NI53b from NBET in 7 months
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 […]
Use Consultancy Services to Conserve Foreign Reserve & Enhance Capacity – Shehuri Tells Universities
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 […]
FG, World Bank Sign $237m Partial Risk Guarantee for Azura 450MW IPP
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 […]
TEM Gets Credibility Boost
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 […]
President Buhari Reappoints Dr Amobi, Constitutes NBET Board
Ikeja Electric Gets new CEO, Signs Supply Agreement with Estate
TCN restores bulk power supply to areas in Ibadan DisCo after fire incident
Clement on TCN Commissions 2 Power Transformers in 2 States in One Day
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