The Association of Power Generation Companies (APGC) has stated that power Generation Companies (Gencos) have not received payment for electricity generated since June 2018 from the Nigerian Bulk Electricity Trading Plc (NBET). The Executive Secretary of APGC, Dr. Joy Ogaji, said this in an interview with the News Agency of Nigeria (NAN) in Abuja yesterday. […]
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The Nigeria Sovereign Investment Authority has paid the sum of $417.46 million to the Nigeria Bulk Energy Trading Company Plc (NBET) following the expiration of the 4 years investment term. NSIA transferred the funds in three tranches as follows; US$8 million (May 2016), US$5.5 million (August 2016) and lastly US$403.96 million (July 2018). The returned […]
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The House of Representatives has mandated its Committee on Power to investigate the ₦701 billion Payment Assurance Facility and the ₦194 billion interest payment approved by the Federal Government for funding gas supply and generation sub-sectors of the electricity industry. The committee is to report back to the House within four weeks for further legislative […]
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The Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari, Wednesday, approved the sum of ₦25,994 billion for Distribution Companies (Discos), to offset some of the debts owed by Ministries Departments and Agencies (MDAs). The Council approved the verified sum of ₦25.994 billions for Discos out of the claims of ₦67.41 billions, leaving […]
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