Abuja: The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has reaffirmed its commitment to national development by partnering with the Nigerian Bulk Electricity Trading Plc (NBET) to achieve the mandates of both agencies. This was highlighted during a courtesy visit by the RMAFC Investment Committee to the NBET headquarters in Abuja.
According to News Agency of Nigeria, Mr. Ekene Enefe, Commissioner representing Anambra State at RMAFC, led the delegation and stated that the visit aligned with the commission's constitutional mandate as outlined in Section 6(2) of the RMAFC Act, 2025. The law empowers the commission to demand and obtain relevant information from government agencies and private sector operators. Enefe explained that the purpose of the visit was to engage NBET for a better understanding of its operations, roles, and the challenges it faced in executing its mandate. He also mentioned a recent session with the Niger Delta Power Holding Company (NDPHC) where the issue of NBET's indebtedness was raised, prompting the need for direct clarification from NBET.
Mr. Johnson Akinnawo, Managing Director/Chief Executive Officer of NBET, responded by describing the agency as a 'special trader' in the Nigerian Electricity Supply Industry (NESI). He stated that NBET is responsible for purchasing electricity in bulk from generation companies (GenCos) and selling it to distribution companies (DisCos). He emphasized NBET's role in stabilizing the sector and encouraging private sector investment through power purchase agreements.
On the matter of indebtedness to the NDPHC, Akinnawo clarified that while NBET coordinates payments and debt recovery, it does not have full oversight of the entire process. Real-time revenue monitoring and enforcement are handled by the Nigerian Electricity Regulatory Commission (NERC) and the Central Bank of Nigeria (CBN). He assured that NBET would provide a comprehensive list of outstanding debts owed by GenCos to support RMAFC's investigation. Plans were also disclosed to convene an interactive session involving all relevant government agencies, with invitations extended to RMAFC committee members.