We Process N60bn Electricity Invoices Monthly – NBET

The Nigerian Bulk Electricity Trading Plc on Sunday said it processed N60bn electricity invoices monthly for various operators in the power sector.

NBET, a wholly owned agency of the Federal Government, is the manager and administrator of the Nigerian electricity supply industry.

The agency stated that aside from processing invoices, the bulk trader had successfully administered the Federal Government’s N701.9bn Payment Assurance Facility meant for gas used for power generation.

It disclosed this in a statement issued in Abuja to announce the scheduled visit of the Minister of State for Power, Goddy Jedy-Agba, to the headquarters of NBET.

The statement read in part, “It is important to note that transparency trumps any other consideration for an agency like NBET that processes about N60bn electricity invoices monthly with a 100 per cent accuracy rate.”

NBET told the minister that it managed the second tranche of the N600bn Payment Assurance Facility, adding that the agency had remained the administrator of the financial flow for grid generated electricity in Nigeria.

Jedy-Agba commended the management and staff of the NBET for their contribution towards the growth of the power sector and charged them not to rest on their oars.

NBET’s Managing Director, Nnaemeka Eweluka, reassured the minister of the agency’s readiness to continue to work in synergy with the Federal Ministry of Power and other stakeholders to improve their services in power delivery.