Nigerian Senate Questions NBET's Financial Viability Amidst Budget Shortfall

The Nigerian Senate's Finance Committee interrogated the Nigerian Bulk Electricity Trading Plc (NBET) management over its operations with only N60 million from its N858 billion budget for the 2025 fiscal year. Senator Sani Musa expressed shock at NBET's ability to function without adequate funding, raising concerns about the implications for Nigeria's fragile electricity market.

NBET's Managing Director, Johnson Akinnawo, disclosed the company's heavy reliance on regulatory income to sustain operations due to the significant shortfall in released capital. The lack of capital allocation poses a severe financial risk to NBET and the entire electricity supply chain, impacting power generation companies (GENCOs) and market stability.

The Senate emphasized the urgent need for additional funding to prevent a collapse in the power sector.