President Bola Tinubu is expected to meet with the leadership of Nigeria’s power-generating companies as part of an emergency effort to address the N4 trillion debt threatening to cripple the country’s electricity supply chain. The move follows a high-level meeting on Tuesday between the Minister of Power, Adebayo Adelabu, and chairmen of GenCos in Abuja, amid mounting fears of a …

Nigeria exported N181.62 billion worth of electricity from January to September of 2024, analysis of data from the National Bureau of Statistics (NBS) has shown. A breakdown showed that N58.65 billion was exported to Togo, Benin and Niger Republic in the first quarter of 2024 followed by N63.28 billion in the second quarter and N59.69 billion in the third quarter. …

Chairman, board of directors of Transnational Corporation Plc, Mr Tony Elumelu has urged the federal government to expedite action in the payment of the over N2 trillion owed to power generation companies (GenCos) by the Nigerian Bulk Electricity Trading Plc (NBET) to sustain the reliable flow of electricity from the GenCos. He said the distortion in the liquidity flow in …

Under the current arrangement, the Nigerian Bulk Electricity Trading Plc (NBET), procures power in bulk from Independent Power Producers (IPPs), and GenCos for resale to DisCos, eligible or international customers. Under the new regulation or order approved by the Nigerian Electricity Regulatory Commission (NERC), NBET that carries out the role of a “pool” administrator for the Nigerian electricity market, it …

The Minister of Finance, Budget and Planning, Mrs Zainab Ahmed has lamented the N1.3 trillion electricity intervention fund provided by the Nigerian government did not make significant impact. Five years ago, the Federal Government approved N701 billion as a power assurance guarantee fund for the Nigerian Bulk Electricity Trader (NBET) to pay for two years the electricity produced by the …