19 hours ago
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.
The Federal Government has supported the supply of electricity in the country with about N1.3 trillion as the Distribution Companies remitted N26.8 billion in June this year.
The failure of Federal and state governments, as well as their ministries and agencies to pay over N100 billion outstanding electricity bills, is currently worsening the liquidity crisis
The Senate has directed the Nigeria Bulk Electricity Trading Plc. (NBET) to refund N132,066,948.00 million it claimed it used on drivers’ uniforms, overseas training
The National Industrial Court (NIC) delivered its judgment in Sambo Abdullahi v. NBET & 3 Others on March 11, 2020. Abdullahi was until June 13, 2017, the Head of Audit at Nigeria Bulk Electricity Trading Plc. (NBET). Sometime in June 2017, the Office of the Accountant-General of the Federation (OAGF) posted treasury accountants from its…
Despite the intervention of Central Bank of Nigeria (CBN) and Nigerian Electricity Regulatory Commission (NERC) to address the liquidity crisis rocking Nigeria’s electricity market, the sector continues to struggle under heavy debt.
20 Nov 2020
For lack of convincing explanation, the Senate Committee on Public Accounts (SPAC) has ordered the management of the Nigerian Bulk Electricity Trading Company (NBET)
26 Aug 2020
The House of Representatives Committee on Public Accounts yesterday received the auditor’s reports on the activities of the Niger Delta Development Commission (NDDC) and Nigeria Bulk Electricity Trading (NBET) Plc which are replete with queries.
25 Aug 2020
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMB) to provide bank gurantees to Nigeria Bulk Electricity Trading (NBET) and Transmission Company of Nigeria (TCN) on behalf of Distribution Companies (DISCos).
27 Jul 2020
Leveraging off-balance-sheet products such as Guarantees, Letters of Comforts and similar instruments, the Federal Government’s contingent liabilities may hit N6.1 trillion, the 2021- 2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) has shown.
16 Jun 2020
The Nigerian Bulk Electricity Trading Plc (NBET) and the promoter of Omotosho and Olorunsogo power generation companies (GenCos), Sepco Pacific Energy Partners Limited, are at loggerheads over electricity invoices hovering around N13.2 billion.