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NBET Pays N42bn To GenCos For Nov Power Supply

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4 years ago

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The Nigerian Bulk Electricity Trading Plc, yesterday, disclosed that it remitted N42billion to power generation companies (GenCos) for electricity supplied to the national grid in November 2021.
The bulk trader, in a statement in Abuja, explained that the payments were a combination of market receipts and supplementary payments from Electricity Distribution Companies (DisCos) made to NBET.
NBET said it processed market payment of N42,486,673,723.75 to the power generators for the November 2021 Payment Cycle for grid distributed electricity.
It stated that these payments were made last week to GenCos for delivered electricity to the National grid during the period.
“DisCos and GenCos payments are based on the electricity market settlement”, it added.
NBET explained that “Market Settlement Statement is issued in arrears by the Market Operator (MO) following a period of 28 days after a cycle. The MO takes the readings of the various meters via the grid network to determine the quantum of electricity supplied to the grid by each generation companies into the national pool, which is then wheeled via the transmission network to the distribution companies and subsequently to the end-users.
“The settlement statement forms the basis of invoicing and processing of payments to the GenCos”.
NBET said it has continued to ensure “timely payments to generating companies for energy generated and distributed to end users via the grid despite the average market performance of DisCos”.
In the statement, NBET Head of Corporate Communications, Ms. Henrietta Ighomrore, added that the payments were made following its internal payment committee meetings and approval by management.
“NBET continues to fulfill its mandate in ensuring an efficient and effective transactions environment for the bulk purchase and resale of power in the Nigerian Electricity Supply Industry.
“For the 2021 payment cycle, NBET processed an average of N68billion worth of electricity via the grid, making sure that GenCos received an average minimum settlement of 85% of generation invoices”, she said.
According to her, for January – June 2021 settlement cycle, NBET ensured that all GenCos received payment of 90 – 99per cent of generation invoices for grid distributed electricity through the NBET Payment Assurance Facility (PAF) and market receipts.
NBET named Eko Electricity Distribution Company (EKEDC) as the best performing DisCo with a rating of 93per cent of its Minimum Remittance Order (MRO) for November, 2021 while Abuja Electricity Distribution Company (AEDC) and Kaduna Electricity Distribution Company (KEDCO) were named as the least performing companies with both remitting below 20per cent of the MRO.
“The increase, timeliness and consistency in payments to the GenCos has ensured stability of the national grid and sustained power generation across the country. It is evident that the quantum of power delivered to the grid has been on a steady increase as GenCos can leverage payments to third parties and ensure maintenance of their plants.
“With a new license, NBET is suitably positioned to lead the NESI towards a viable power exchange for the good of the sector”, Ighomrore added.

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198 UNIBEN Students Bag First Class

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5 days ago

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November 24, 2025

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A total of 198 students of the University of Benin (UNIBEN ) Edo State, bagged a First Class degree out of 14,083 students to be awarded first degree at the institution’s 51st Convocation and Founder’s Day ceremony.
Vice Chancellor of UNIBEN, Prof. Edoba Omoregie, disclosed this on Monday in Benin at a pre-convocation press briefing.
He said 4,217 students bagged a Second Class Upper,  7, 928 got a Second Class Lower, while 578 bagged a Third Class degree.
He said 15 new approved programmes by the National Universities Commission (NUC) would commence in the 2025/2026 academic session.
According to him, “The wheel of progress is on course and moving steadily in the University of Benin.  This administration is poised to deliver on its mandate of effective, practical teaching, sound learning, result-oriented research and impactful community service.
“We must applaud the President Bola Ahmed Tinubu, for establishing NELFUND, and by so doing significantly reducing the financial stress of students in the process of acquiring tertiary education.   We enjoin students and their parents to take full advantage of the federal government’s benevolence in instituting the fund.”
Prof. Omoregie disclosed that Nigeria’s Minister of Regional Development, Engr. Abubakar Momoh, would deliver the Founders’ Day lecture with the topic,  “Reforms for a Shared Prosperity”.
The UNIBEN VC said Director General of the Nigerian Institute of International Affairs and Former Vice Chancellor of Igbinedion University, Okada, Edo State, Professor Eghosa Osaghae, would deliver the Convocation Lecture on the theme, “Making Our Universities Great”.
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Bayelsa Education Fund, British Council  trains tra 1,000 teachers

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5 days ago

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November 24, 2025

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The last batch of 400 public school teachers in Bayelsa State on Monday commenced training under the sponsorship of Bayelsa Education Development Trust Fund (EDTF) and the British Council.
This batch will bring to 1000 the number of public school teachers in the state who have benefited in the partnership arrangement.School supplies
The EDTF, British Council and Teachers Training, Registration and Certification Board collaborated in the capacity development programme.
Speaking at the opening ceremony of the five day capacity building program, Commissioner for Education Dr Gentle Emelah reiterated the commitment of the Bayelsa government to training and capacity of teachers in the state.
He noted that the improved teaching methodology in the state was responsible for the state producing the best student in the 2025 West African School Certificate Examinations.
Prof Ebimiowei, Executive Secretary at EDTF, noted that the collaboration is aimed at improving learning outcomes for pupils and students of public primary and secondary schools in Bayelsa.
“You will agree with me that until the cutlass is sharpened, it will have no impact on the hands of the farmer and so it is with our teachers., you need to be sharpened very well to give good delivery in your various classes and schools.
“Let me at this juncture appreciate the British Council for accepting to train 1,000 teachers, 50 education managers and 60 trainers for Bayelsa,” he said.
On his part, Chairman of the EDTF board, High Chief Fidelis Agbiki expressed appreciation to the Commissioner for Education Dr Gentle Emelah for his supportive role to the fund.
Agbiki urged the beneficiaries to justify the enormous resources invested by the government of Bayelsa by being dedicated within the five days the exercise would last.
He said; “This board will not operate on business as usual but on business unusual as we will push the frontiers outside the box to ensure that we get value for money,” Agbiki said.
 Chairman of Development Partners Committee of the EDTF applauded the commitment of the partners for the successful completion of the programme, urging them to sustain the tempo
Speaking on the programme, Mr Fwanshishak Daniel, Head, English and Schools, British Council noted that the Bayelsa government had shown exemplary commitment to educational development.
He explained that the commitment has enabled the British Council and Bayelsa government to achieve within one year greater milestones that took other states three years to achieve.
He explained that the resources of the British Council have been made available to Bayelsa with the training of 60 resource persons from the state who will in turn train other teachers to improve education.
According to Daniel, the training will lay emphasis on new teaching methods, use of digital tools for self development and access to school amongst others.
Dr Peremoboere Ogola, Acting Chairman of TTRC, which facilitated training, thanked the EDTF for supporting training of teachers in Bayelsa with world class resources of the British Council.
She noted that another batch of newly recruited teachers are currently undergoing training at State government owned University of Africa, Toru Orua, Sagbama LGA in Bayelsa
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RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE

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5 days ago

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November 24, 2025

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The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.

The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.

Dr Anabraba who also serves as Chairman of the Committee

highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.

“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.

Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.

The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.

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