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RMAFC wades into N600bn NBET’s indebtedness to NDPHC

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From Isaac Anumihe, Abuja

Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), today, waded into the over N600 billion debt owed the Niger Delta Power Holding Company (NDPHC) by Nigeria Bulk Electricity Trading (NBET) with a view to resolving the crisis crippling the power sector.

The situation prompted the Investment Committee of RMAFC to pay a courtesy visit to NBET in Abuja.

In his remarks, the head of the committee, Ekene Enefe (Federal Commissioner representing Anambra State) stated that their action was necessitated by the commission’s constitutional mandate as provided under the RMAFC Act of 2025, Section 6 (2), which empowers the commission to demand and obtain relevant information from government agencies as well as private sector operators.
He disclosed that the purpose of the visit was to interact with and better understand the activities, roles, and challenges facing NBET in the discharge of its mandate.

The commissioner further recalled that during a recent interactive session with NDPHC, the issue of NBET’s indebtedness to the company was raised, prompting the committee to engage NBET directly to ascertain efforts being made to recover the outstanding funds.

“Since government’s intervention in the power sector is a continuous process, RMAFC has initiated activities to review the revenue allocation formula with a view to ensuring adequate funding of the critical federal government projects, especially in the area of infrastructural development” Enefe stated.

The Managing Director/Chief Executive Officer of NBET, Mr. Johnson Akinnawo described the agency as a “special trader” in the Nigerian Electricity Supply Industry (NESI). He explained that NBET serves as a bulk purchaser and reseller of electricity, managing contracts and obligations under the power purchase agreements.

According to him, NBET acts as a bridge between power generation companies (GenCos) and distribution companies (DisCos), thereby ensuring stability and reliability in electricity supply. He added that NBET’s activities are designed to incentivise private sector investment in power generation and serve as a key government intervention mechanism in the sector.

On the issue of indebtedness to NDPHC, Akinnawo clarified that while NBET plays a role in debt recovery for GenCos and DisCos, the real-time monitoring of income and the sanctioning of defaulting organisations fall under the purview of the Nigerian Electricity Regulatory Commission (NERC) and the Central Bank of Nigeria (CBN).

In a statement, he assured the committee that NBET would provide a comprehensive list of indebted GenCos to aid the commission’s work and further disclosed plans to convene an interactive session with relevant government agencies, to which the RMAFC Committee members would be invited.



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