{"id":125585,"date":"2026-02-13T07:40:34","date_gmt":"2026-02-13T06:40:34","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=125585"},"modified":"2026-02-13T07:40:34","modified_gmt":"2026-02-13T06:40:34","slug":"senate-queries-nbet-over-%e2%82%a6858bn-power-tariff-gap","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/senate-queries-nbet-over-%e2%82%a6858bn-power-tariff-gap\/","title":{"rendered":"Senate Queries NBET Over \u20a6858bn Power Tariff Gap"},"content":{"rendered":"<div style=\"text-align: justify;\">By Lizzy Chirkpi<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Nigerian Senate has summoned the Nigerian Bulk Electricity Trading (NBET) Plc over the failure to release \u20a6858 billion approved in the 2025 budget to address the nation\u2019s electricity tariff shortfall, raising fresh concerns about the worsening financial condition of the power sector.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Lawmakers raised the issue during NBET\u2019s 2025 budget performance review and defence of its 2026 appropriation before the Senate Committee on Finance, chaired by Senator Muhammad Sani Musa.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">NBET\u2019s Acting Managing Director, Johnson Akinnawo, told the committee that although the agency\u2019s recurrent expenses for 2025 were funded through regulatory earnings\u2014covering personnel costs and overheads the electricity market continues to suffer from non\u2013cost-reflective tariffs.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He explained that the Federal Government had earmarked \u20a6858 billion in capital funding to bridge the widening gap between actual power generation costs and the tariffs approved for distribution companies (DisCos), as well as to settle outstanding obligations to generation companies (GenCos). However, only \u20a660 million has so far been released.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to Akinnawo, the amount released could not be utilised due to procurement bottlenecks, effectively leaving the intervention funds inaccessible.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThe gap between generation costs and the allowed tariffs is substantial. Without sustained government intervention, the market cannot remain stable,\u201d he said, warning that NBET\u2019s indebtedness to GenCos continues to rise as a result of the funding shortfall.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">NBET, which operates as a bulk power purchaser within Nigeria\u2019s electricity value chain\u2014buying electricity from GenCos and reselling to DisCos while providing payment guarantees\u2014has struggled to fulfil its stabilising role due to inadequate capitalization.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Expressing concern over mounting liabilities in the sector, Senator Sani Musa asked whether the National Assembly should recommend a review of the existing tariff regime or explore alternative financing options to close the deficit.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cShould the committee consider recommending a review of the tariff regime or explore alternative funding mechanisms to address this shortfall?\u201d the senator queried.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Lawmakers also sought clarification on NBET\u2019s plans to secure additional capitalization to strengthen its operations and restore confidence in the market.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In response, Akinnawo acknowledged that poor capitalization remains a core structural challenge. He disclosed that NBET\u2019s management is engaging the Budget Office and the Ministry of Finance over the delayed release of the appropriated funds.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He warned that without adequate financial backing, NBET\u2019s ability to function as a stabilising intermediary would remain severely constrained, with ripple effects on power generation and electricity supply nationwide.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Following the session, Senator Musa directed NBET to submit a comprehensive funding strategy and reform roadmap outlining how it intends to address the sector\u2019s structural weaknesses.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The committee is expected to review the submission as part of deliberations on the 2026 budget, as legislative scrutiny of Nigeria\u2019s struggling power industry intensifies.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Lizzy Chirkpi The Nigerian Senate has summoned the Nigerian Bulk Electricity Trading (NBET) Plc over the failure to release \u20a6858 billion approved in the 2025 budget to address the&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":109300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-125585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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