Mkpoikana Udoma
Port Harcourt — The Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, has opened fresh engagements with the Nigerian Bulk Electricity Trading Plc, NBET, over rising debt concerns in the power sector, particularly obligations to the Niger Delta Power Holding Company, NDPHC.
The RMAFC Investment Committee, led by Hon. Ekene Enefe, Federal Commissioner representing Anambra State, paid a courtesy visit to NBET’s headquarters in Abuja, underscoring the Commission’s resolve to probe funding gaps affecting the Nigerian Electricity Supply Industry, NESI.
Enefe explained that the intervention was in line with Section 6 (2) of the RMAFC Act 2025, which empowers the Commission to demand and obtain relevant information from government agencies and private sector operators.
“The purpose of this visit is to interact with and better understand the activities, roles, and challenges facing NBET in the discharge of its mandate. During our recent interactive session with the Niger Delta Power Holding Company, the issue of NBET’s indebtedness to NDPHC was raised. That is why we are engaging NBET directly to ascertain efforts being made to recover the outstanding funds,” he stated.
The RMAFC Commissioner further stressed the broader implication of power sector funding on Nigeria’s development goals.
“Since government 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 critical federal government projects, especially in the area of infrastructural development,” Enefe added.
Responding, the Managing Director and Chief Executive Officer of NBET, Mr. Johnson Akinnawo, described NBET as a “special trader” in the electricity market, serving as an intermediary between generation companies (GenCos) and distribution companies (DisCos).
“NBET serves as a bulk purchaser and reseller of electricity, managing contracts and obligations under power purchase agreements. We act as a bridge between GenCos and DisCos, thereby ensuring stability and reliability in electricity supply,” Akinnawo said.
On the issue of debt recovery, Akinnawo clarified NBET’s role in the sector’s financial framework.
“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,” he explained.
He assured that NBET would provide RMAFC with a comprehensive list of indebted GenCos to aid its oversight work and disclosed plans for an interactive session with key government agencies to which the Committee would be invited.
The engagement signals a stronger push to resolve financial bottlenecks in Nigeria’s power sector, a recurring challenge that continues to undermine investor confidence and stable electricity delivery.
