NBET Receives Only N60 Million of N858 Billion Budget

The Nigerian Bulk Electricity Trading (NBET) Plc, led by Managing Director Johnson Akinnawo, reported that only N60 million has been released from its N858 billion budget for 2025. This disclosure was made during a budget performance review, where Akinnawo highlighted the significant gap between the appropriated funds and actual releases, which severely constrains the agency's ability to fulfill its obligations to power generation companies.

Lawmakers expressed concern over the widening financial strain in the power sector, which could have nationwide implications for electricity supply. Despite the substantial budget aimed at addressing tariff gaps, the actual funding has fallen drastically short, with the N60 million released remaining unutilized due to procurement process constraints.

NBET plays a crucial role in stabilizing Nigeria's power sector by guaranteeing payments to electricity generation companies and maintaining liquidity across the electricity value chain. However, ongoing structural deficits and delayed government interventions have left NBET increasingly exposed to mounting debts owed to generation companies.