DisCos’ debts to NBET, market operator hit N103 billion
The Electricity Distribution Companies (Discos) in Nigeria are indebted to the Nigerian Bulk Electricity Trader (NBET), and Market Operator (MO) to the tune of N103billion, according to the Nigerian Electricity Regulatory Commission recent (NERC) report released this week. DisCos were issued an invoice totalling N147billion for energy received from NBET and for the service charge…
NBET’s $350m investment in NSIA yields $67m profit
Power generating firms may soon heave a sigh of relief as the Nigeria Bulk Energy Trading Company Plc (NBET) has received $417.46 million from the Nigerian Sovereign Investment Authority (NSIA).
Liquidity crisis persists despite N701bn power sector intervention fund
Despite approval by the Federal Executive Council (FEC), for a N701-billion Central Bank of Nigeria (CBN) facility to ameliorate liquidity crisis in the power sector, funding challenges remain a big issue.
Tougher times await DISCOs, experts predict
Industry experts have predicted tougher times for the nation’s electricity distribution companies (Discos), contending that the problem was not just about huge financial shortfall...
NBET’s January indebtedness to Gencos tops N42 billion
The indebtedness of the Nigerian Bulk Electricity Trading Plc (NBET) to electricity Generation Companies (Gencos), has reached N42.15 billion as at January 2018.
Power sector and the blame game
The power sector is no exception from the ups and down recorded in 2017. The year started with a generally low mood in terms of the quantum of power generation available for distribution from none to a peak of 5,222MW.
Buhari presents N8.612 trillion budget for 2018
President Muhammadu Buhari yesterday presented to a joint session of the National Assembly a budget estimate of N8.612 trillion for the 2018 fiscal year.
Senate to probe alleged $1.35b power sector fraud
The Senate is set to commence an investigation into an alleged $1.35 billion fraud in the power sector.