Maryam Aminu
The Investment Committee of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has opened fresh talks with the Nigerian Bulk Electricity Trading PLC (NBET) as part of efforts to strengthen transparency and boost revenue management in Nigeria’s power sector.
Led by Hon. Ekene Enefe, Federal Commissioner representing Anambra State, the committee paid a courtesy visit to NBET headquarters in Abuja, underscoring its constitutional mandate to demand and obtain critical information from both government and private sector operators.
Hon. Enefe noted that the engagement was triggered by concerns raised during a recent session with the Niger Delta Power Holding Company (NDPHC), where NBET’s indebtedness was flagged.
“Since government intervention in the power sector is ongoing, RMAFC is reviewing the revenue allocation formula to guarantee adequate funding of critical projects, particularly infrastructure,” he explained.
In response, NBET’s Managing Director/CEO, Mr. Johnson Akinnawo, described NBET as a “special trader” in Nigeria’s Electricity Supply Industry (NESI). He emphasized that NBET acts as a stabilizer in the sector purchasing power from GenCos and selling to DisCos while ensuring investor confidence through structured contracts.
On the debt issue, Akinnawo clarified that debt recovery is shared among agencies, with the Nigerian Electricity Regulatory Commission (NERC) and Central Bank of Nigeria (CBN) playing key monitoring roles.
He, however, assured RMAFC that NBET would provide a detailed list of indebted GenCos and facilitate broader stakeholder discussions to address the challenge.
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