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NBET Executes N1.3 Trillion Power Sector Payment Assurance Facility


…Minister Demands More Commitment….
The Minister of State, Power, Dr Goddy Jedy Agba, has commended the Management and staff of the Nigerian Bulk Electricity Trading (NBET) Plc for their contribution towards the growth of the power sector while charging them not to rest on their oars.
The Minister while making the commendation said the present administration is working assiduously to improve activities across the sector’s value chain.
The agency has successfully managed and administered the federal government’s over NN1.3 trillion Payment Assurance Facility without in the sector a single discrepancy.
The payment and transaction invoices were processed and paid efficiently.
The first tranche was N701.9 billion as well as another N600 billion Payment Assurance Facility and has also remained a transparent and efficient administrator of the financial flow for Grid generated electricity in Nigeria.
Jedy-Agba, who was on scheduled visit to the agency’s head office in Abuja, maintained that NBET’s commitment and dedication to improving the electricity supply in the country are quite commendable.
In the words of the Minister, “I like the work you are doing here, but Nigerians expect more because until the country achieves stable and sustainable power supply, we can’t rest. In the Ministry of Power, we’re happy with what you have achieved, but we expect you to do more because there’s still a lot to do for Nigeria to achieve the power plan of Mr President “.
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.
In his opening remark, the Managing Director of NBET, Dr Nnaemeka Eweluka, reassured the Minister of the agency’s readiness to continue to work in synergy with the Ministry of Power and other stakeholders to improve their services.
On his part, the General Manager, Corporate Services, Abba Aliyu, stated that the staff and management of NBET remain passionate and committed to delivering on their mandate.
According to Aliyu, the agency which the labour force has an average age of twenty-six parades the best brains in the commercial electricity value chain in the country.
“We’re grateful for having you here and appreciate you for all your support. The average age of our staff here is twenty-six; this means that we have young people who are motivated and committed because they’re just starting their careers. The energy is still there, and I can assure you that we have the best brains here”, he said.
It is equally important to note that transparency trumps any other consideration for an agency like NBET that processes about N60 billion electricity invoices monthly with a 100% accuracy rate.
The Nigerian Bulk Electricity Trading (NBET) Plc is the manager and administrator of the Nigerian electricity supply industry (NESI). The agency, which the Federal Government of Nigeria wholly owns, has continued to attract local and international commendation for its strict adherence to professionalism and best practice in managing the electricity pool.

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