NBET RECEIVE FRESH FUNDS TRANSFER

AD

The Association of Nigerian Electricity Distributors (ANED) and the Association of Electricity Distributors Investors (AEDI) alleged that the Ministry of Power had diverted the funds into awarding “frivolous, over-priced and senseless contracts”. The allegation followed the accusation by the Minister of Power, Works and Housing, Babatunde Fashola that the Discos failed to deliver on their mandate to the industry.

However, these allegations have been debunked by the Nigerian Sovereign Investment Authority (NSIA), on Thursday, who said it paid thee sum of $417.46 million to the country’s electricity bulk trader, the Nigerian Bulk Energy Trading Company Plc (NBET).

Executive Director of ANED, Sunday Oduntan, told a media briefing last week that the Federal Ministry of Power had diverted the funds to the Rural Electricity Agency (REA) to utilize in executing projects that are not only “exorbitant and overpriced” but also “do not make sense.”

 

NATIONAL POWER GRID HIGHLY UNSTABLE- BEDC

The Benin Electricity Distribution Company Plc (BEDC) has described the nation’s power grid as highly unstable, with over 2000 outages and interruptions recorded in its network coverage area of Delta, Edo, Ekiti and Ondo states between January and July.

The Managing Director/Chief Operating Officer, BEDC, Mrs Funke Osibodu, disclosed this during a media briefing in Benin, Edo state. Notwithstanding, Osibodu also said that the firm had been able to record several improvements across all states within the franchise area.

She said electricity supply had been restored to 54 communities in Delta state and various street lights were commissioned to enhance security in Asaba. In Edo state, the power supply has been improved from two hours to six to ten hours for locations with severe infrastructure limitations and 12 to 15 hours for locations with more improved infrastructure.

AD

Be the first to comment

Leave a Reply