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Nigeria’s electricity invoices average N720b yearly, says NBET

By Kingsley Jeremiah, Abuja
20 October 2021   |   4:19 am
Nigerian Bulk Electricity Trading (NBET) Plc has stated that it processes an average of N60 billion worth of electricity monthly from the national grid, translating to about N720 billion every year.

Electric pole

Nigerian Bulk Electricity Trading (NBET) Plc has stated that it processes an average of N60 billion worth of electricity monthly from the national grid, translating to about N720 billion every year.

Managing Director of NBET, Dr Nnaemeka Eweluka, who disclosed this also noted that about N1.3 trillion has been managed by the agency as funding by the Federal Government to support the sector.

Privatised in 2013, the nation’s power sector has been struggling to spark optimism as infrastructure challenges compound with technical capacity and other issues to cripple the performance of the sector.

Though President Muhammadu Buhari recently sacked the Minister of Power and replaced him with Abubakar Aliyu, most Nigerians, who currently struggle to pay for the increased electricity tariff, are tirelessly looking forward to improvement in electricity supply.

Eweluka, who had played host to the Minister of State for Power, Dr. Goddy Jeddy-Agba reassured the Minister of the agency’s readiness to continue to work in synergy with the ministry and other stakeholders to improve their services.

Dr Jedy-Agba said although the work done in the sector, especially by NBET is commendable, “Nigerians expect more because until the country achieves stable and sustainable power supply, we can’t rest.”

He insisted that expectations were high for results as there is a lot to do for Nigeria to achieve projected goals of the power.

While reiterating the importance of power supply to the country’s development, he noted that “you remain a key player in our industry and regardless of where you are, this administration’s objective is one as Mr. President wants to leave an indelible mark in every sector of the economy. We must work together to achieve this aim because the President and Nigerians will hold us all responsible if we fail.”

NBET’s General Manager, Corporate Services, Abba Aliyu, stated the agency parades the best brains in the commercial electricity value chain in the country.