The Nigerian Bulk Electricity Trading Plc has requested the renewal of its operating licence from the Nigerian Electricity Regulatory Commission, citing its contributions to the power sector.<\/p>\n
NBET\u2019s current licence is set to expire on November 21, 2024, and it is seeking a five-year renewal.<\/p>\n
The request was made during a public hearing organised by NERC in Abuja on Thursday.<\/p>\n
Speaking at the hearing, NBET Managing Director, Johnson Akinnawo, highlighted the company\u2019s achievements.<\/p>\n
Akinnawo also emphasised the company\u2019s role in attracting nearly $1bn in greenfield power generation investment and managing the privatisation of Power Holding Company of Nigeria assets.<\/p>\n
The execution of these agreements paved the way for about $2.5bn in investments in Gencos and Discos,\u201d he noted, adding that NBET envisions a self-sustaining electricity market driven by private investments.<\/p>\n
NERC Commissioner, Dafe Akpeneye, acknowledged the importance of stakeholder input in the licence renewal process.<\/p>\n
The commission doesn\u2019t believe that we know it all. Given how the industry is changing and evolving, it\u2019s important that we get critical stakeholders\u2019 input into NBET\u2019s request,\u201d he said.<\/p>\n
The Managing Director of Azura Energy, Edu Okeke, expressed support for extended licence renewal, stating, \u201cNo investor will agree to invest long-term if NBET licence is only renewed for five years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigerian Bulk Electricity Trading Plc has requested the renewal of its operating licence from the Nigerian Electricity Regulatory Commission, citing its contributions to the power sector. NBET\u2019s current licence is set to expire on November 21, 2024, and it is seeking a five-year renewal. The request was made during a public hearing organised by […]<\/p>\n","protected":false},"author":25,"featured_media":48392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-48390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/48390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=48390"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/48390\/revisions"}],"predecessor-version":[{"id":48393,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/48390\/revisions\/48393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/48392"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=48390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=48390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=48390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}