Tag: Nigerian Bulk Electricity Trading (NBET

Nigerian Govt Paid N36bn For Electricity Subsidy In 3 Months – NERC

Abibat Babalola

The Nigerian Electricity Regulation Commission (NERC) has said the federal government paid the sum of N36bn to subsidise electricity consumption in the first quarter of 2023. In its quarterly report, NERC said the money amounted to the payment of N12bn monthly which was paid to the Nigerian Bulk Electricity Trading (NBET). With the NBET charged with the collection of revenues due to generation companies and the Transmission Company of Nigeria from the DisCos, the sum of N141.5bn was paid to the NBET from the N209.2bn invoice given to the DisCos.…

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Nigerian Govt Signs New Power Purchase Agreement for 726MW

Abibat Babalola

as Finance minister, NBET seek enabling environment, more investors       Nigerian Bulk Electricity Trading (NBET) Plc has signed 20-year 726 megawatts Power Purchase Agreement (PPA) to improve electricity supply and attract investment. The deal was signed with Transcorp Plc. Zainab Ahmed, Minister of Finance, Budget and National Planning, said government will remain committed to improving environment for doing business in the power sector. Speaking, Managing Director of NBET, Dr. Nnaemeka Ewelukwa, said there was need for more investment in the power sector, adding that the new PPA would…

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