Saturday, January 19, 2019

Tag "NBET"

    GenCos: Abysmal performance of DisCos responsible for challenges in power sector

GenCos: Abysmal performance of DisCos responsible for challenges in power sector

The Association of Power Generation Companies (APGC) says the abysmal performance of electricity distribution companies (DisCos) is responsible for the challenges in the power sector.In a statement on Tuesday, Joy Ogaji, executive secretary of APGC, said the generation companies are being short-changed as they don't receive full payment for the amount of power generated.Ogaji said this in response to a [...]

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    Ogaji: DisCos owing power generation firms N500bn

Ogaji: DisCos owing power generation firms N500bn

Joy Ogaji, executive secretary of Association of Power Generation Companies (APGC), says the Nigerian Bulk Electricity Trading (NBET) is yet to pay the N500bn debt owed by electricity distribution companies (DisCos).Speaking with reporters in Abuja on Sunday, Ogaji said power firms have been taking loans from banks to be able to generate electricity.She said the federal government has only paid 80 [...]

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    NERC: DisCos’ poor remittances deepen liquidity challenge in power sector

NERC: DisCos’ poor remittances deepen liquidity challenge in power sector

The Nigerian Electricity Regulatory Commission (NERC) says poor remittances by electricity distribution companies (DisCos) to the Nigerian Bulk Electricity Trader (NBET) has deepened liquidity challenge in the sector.In the 2017 third quarter report of the power sector, NERC said during the three months under review, DisCos paid N44bn from N147bn invoice issued by NBET, leaving a shortfall of N103bn.The report [...]

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    NSIA pays $417.46m to NBET ‘to develop electricity market’

NSIA pays $417.46m to NBET ‘to develop electricity market’

The Nigeria Sovereign Investment Authority (NSIA) has paid $417.46 million to Nigeria Bulk Energy Trading Company (NBET) to develop the electricity market.Titilope Olubiyi, NSIA communications adviser, said this followed the expiration of a four-year investment agreement terms.The funds were transferred in three tranches with $8m paid on May 2016, $5.5m in August 2016 and the last on July 2018 with [...]

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Exchange Rates

January 18, 2019USDGBPEUR
INTERBANK306397354
LAGOS362463411
KANO361465413
PH361462412
ABUJA362462413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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